Can You Make a Claim For the Cost of a Car Key Replacement?
If you have comprehensive coverage on your car insurance, you could be able to claim the cost of a new key. The conditions and terms of the policy will determine whether you are eligible to claim a replacement key.
Unfortunately, it is not unusual for insurers to pay theft claims without doing an exhaustive review of the keys' forensic information.
Theft
Car key theft is a major issue as it can cause you to be without a car and in need of alternative transportation. Your auto insurance policy could help you in such a situation. The nature of the incident as well as the terms and conditions in your policy, will determine whether or not you are able to make an insurance claim. If you are in a car accident and your keys were inside the vehicle, it could not be considered a theft since the vehicle was already being used by a different person. In this scenario, it is best to contact the police immediately.
According to the National Insurance Crime Bureau, car thefts are on the rise because of unlocked vehicles and keys left in the vehicle. These crimes can result in higher insurance premiums for autos, so it is important to understand your insurance coverage and what is covered by your policy.
Most car insurance policies do not cover the cost of replacement keys in the event they are damaged or lost, even if comprehensive coverage is included. However, some policies do offer roadside assistance coverage that includes keys replacement up to a specific limit. It is important to consider the cost of replacing your car keys before making an insurance claim.
Thatcham Research explains that many modern "smart key" systems utilize commercial radiowaves for communication with sensors or control modules. This system is called the controller area networks, also known as CAN. The criminals have found how to sabotage the signal to unlock or start the vehicle from outside. To accomplish this, thieves typically operate in pairs. One thief makes use of a transmitter to receive the signal while the other attempts to steal the key fob.
Also, personal property inside the vehicle is usually covered by homeowners or renters insurance. It may be worth it to replace your car's remote key fob in the event that the cost is lower than the deductible or insurance premiums that are incurred by filing an insurance claim.
Damage
If a car key gets lost and is not replaced promptly the owner may be liable to expensive fees to repair damaged locks. These expenses can even surpass the cost of replacing keys.
Insurance may help to cover a portion of the damage if have comprehensive coverage on your vehicle. However, this isn't always the case. To fully understand your policy, it's important to speak with your agent and read it carefully.
Most car insurance policies do not include coverage for keys stolen. The only exception is the case if you have roadside assist coverage. In these cases the insurance company will pay to tow your car to a locksmith who will make an entirely new key. However the driver is accountable for paying for the new key.
You can also inquire with your renters' or home owners' insurance to determine if they offer personal property protection. You might be able to file an insurance claim if your key is lost inside the purse or backpack. You will have to pay a deductible which is typically greater than the cost of replacing a key.
In general, filing an insurance claim isn't worth the hassle. The replacement cost is usually lower than your deductible and most newer keys require programming that could be costly.
Save all receipts if you decide to submit an insurance claim. If your claim is accepted by your insurance company, you may be reimbursed. However, this will depend on your policy.
If you have questions about whether your home or vehicle insurance covers stolen or lost keys, contact your local Hibbs independent insurance agent. We can assist you in choosing the appropriate renters', auto, or home insurance policy to protect your loved ones. We can assist you in comparing quotes for your insurance policy, and help you choose the best option for your needs.
Replacement
It is crucial to think about your options in the event that you lose or have had your car keys stolen. The type of key you have will determine which insurance policy will pay to replace it, and what the process will cost. You also have to be aware of whether filing a claim against your car insurance will affect your premiums.
If your car is a newer model with an electronic key fob you'll likely have to contact the dealer to get a replacement key made. In this case, the dealer will need proof of ownership like the title or registration of the vehicle to create an appropriate replacement key for you. It's important that you keep an exact copy in a secure location of your registration and purchase documents.
In some instances, comprehensive coverage may pay for the cost of a lost or stolen car key. However, you should be prepared to pay for the deductible, which is likely more than the cost of a new key. If you have an ignition that has an ordinary turn key, it may be easier for you to buy the new one from the local locksmith shop or auto parts store.
Another option for car owners with a stolen or lost key is to file a claim through their home or renters insurance. This is because personal property coverage in these policies typically includes an amount that is specific to the loss of keys, or other items that are stored in your home.
You can also call your local garage to see whether they have the equipment needed to reprogram your vehicle's key fob. Some locations offer key programming on-site, which can save time and money. It's important to note that these companies may not be able to manage more advanced smart keys, and you might have to send your key fob to a different company to be reprogrammed.
In the majority of cases, it's not worth the effort and time to make an insurance claim for a lost or stolen car key. The costs of replacing the key fob are likely to exceed the deductible, and it will stay on your record and could result in higher premiums when you renew.
Uninsured/Underinsured Motorist Coverage
If you're a smart owner of a vehicle and you have a spare set of keys in a safe location. What happens if they're lost or stolen? It's a stressful and costly situation.
Unfortunately, standard auto insurance policies do not typically provide coverage for car keys theft or loss. Certain policies might cover car key theft or loss under collision and comprehensive coverage. However, this is only applicable to cars that were being used at the time of the incident. The items in your vehicle might not be covered as well. There are policies that cover electronic fobs, however they are not common.
It is typical to make an independent claim through your homeowners or renters insurance for the items you want to replace in your vehicle. If you have both policies bundled, you can save time by filing both claims together.
It's a good idea be aware that even the most secure locking systems can be damaged over time. This is why it's important to keep a spare set keys in the lock and to look for signs of wear and tear on a regular basis.
While it's never ideal to lose your keys, knowing what options you have can ease the burden. There are insurance companies that offer roadside assistance plans that will provide you with replacement keys in the event that yours is ever stolen. Some of these insurance companies will also provide you with locksmith services and reprogramming your immobiliser without charge.
While these services are useful however, they're not a substitute for the full benefits of a collision or comprehensive auto insurance policy that includes stolen car keys coverage. If you're unsure whether or not your insurance provider more info can offer you this type of protection, it's recommended to speak with a licensed agent to discuss your options. They can help you select the best policy that meets your budget and needs. Contact us now for a no-cost quote. We can help you shop for the best insurance coverage, including car key stolen insurance, with competitive rates.