The rental car industry is growing at a rapid rate all across India. Many people opt for rental car services every day instead of using public transport or any other medium. It is also preferred by a large number of individuals for road trips or vacations. Currently, the car rental business is growing at a 12% rate annually and is expected to be worth around Rs. 1,500 Crore within the next 5 years.
However, rental car users have to take care of various things while they use that vehicle. Any physical damage to the interior or exterior will be chargeable by the rental company.
Misplacing the keys of your rental car often comes with a number of liabilities. You can only contact the company who owns that vehicle in such a scenario; any unauthorised method to obtain a duplicate key can lead to termination of your rental licence. The car company is also likely to charge a hefty fee because of the misplacement.
Fortunately, you can lessen the financial liability with a car key insurance policy. Such policies provide monetary support in case of a loss or theft of such items. Rental car companies are also likely to readily provide you with a replacement key if you have the insurance coverage.
How can you retrieve a replacement key?
You will have to inform your car rental company about the missing keys to get a replacement. You should also contact your insurer for a rental car key replacement.
Reach the car company by phone via the dedicated mobile application to register a lost item. Fill-up the necessary details including probable time and place of the incident, and submit the online form. You might have to pay the cost of a replacement online, or at the physical location of that car company. You can also reach the rental service via phone and talk with their representative for a replacement.
You can claim the replacement car key insurance by reaching the financial institution by phone or via a written application within 24 hours of the incident. Also, remember to file First Incident Report and include the details if there was a break-in attempt after the loss of the key.
Lodging a claim for a replacement car key is a simple process. You only have to fill up the claims forms and send it to the company within 3 days of the incident. Include the details of the FIR and the receipts for any expenses incurred for the replacements. The reimbursement process will be underway once these details are verified.
Car key insurance policy
You can avail key replacement insurance from Pocket Insurance policies brought to you by Bajaj Finserv. It comes with a hassle-free claim process and offers a multitude of features to cover the insured against various scenarios.
- Reimbursement – You will get reimbursed for a replacement if you are protected under the Key Replacement Insurance from Bajaj Finserv.
- Rental car reimbursement – The financial institution will bear expenses to a rental car if the replacement key takes more than 24 hours to arrive at your location.
You can get up to Rs. 20,000 as the sum insured for one year against a premium of only Rs. 499. Furthermore, you can add the rental car key replacement insurance with other insurance policies like Bajaj Finserv’s Pocket Insurance Road Trip Travel Insurance Plans. It covers against any loss or theft of valuables, offers roadside assistance in case your car breaks down, and even protects you against bounced hotel and travel bookings if you are stuck at a location due to some natural or manmade calamity.
Insurance policy for car keys is an ideal product for you if you prefer vehicles rentals. It protects you against any financial setback that you might experience in case you of misplacements.
