Can You Make a Claim For the Cost of a Car Key Replacement?
If you have comprehensive car insurance coverage, you may be able to submit an claim for the cost of a replacement key. The conditions and terms of the policy will determine if you are eligible to claim the replacement of a key.
Unfortunately, it is not uncommon for insurers to pay theft claims without a thorough review of the keys' forensic data.
Theft
The theft of car keys is a serious issue, because it could cause you to be without the vehicle you need. You may need to find alternative transportation. Fortunately, your auto insurance policy could help in this situation. The decision to make an insurance claim will be contingent on the nature of the incident as well as the specific terms and conditions specified in your policy. If you are in a car accident and your keys were within the vehicle, it might not be considered theft as the vehicle was occupied by a different person. In this situation it is recommended to contact the police and inform them immediately.
According to the National Insurance Crime Bureau, car thefts are on the rise because of unlocked vehicles and keys left in vehicles. These types of incidents can lead to high auto insurance rates which is why it's important to know your coverage and what is covered under your policy.
Most car insurance policies do not cover the cost of new keys in the event they are lost or damaged, even if comprehensive coverage is included. Some policies offer roadside assistance, which includes key replacements up to a certain amount. For this reason, it is crucial to consider the worth of your car's key and the amount it would cost to replace them before filing a claim.
Thatcham Research explains that many modern "smart key" systems utilize commercial radiowaves to connect with sensors or control modules. This system is known as the controller area network, or CAN. Thieves have discovered a technique to sabotage the signal which allows them to open or start a car from outside of it. For this thieves operate in pairs. One thief stands in the street with a transmitter device to pick up the signal, while another is trying to steal the key fob.
Also, personal property inside the car is typically covered by renters or homeowners insurance. It may be worth it to replace your car's remote key fob when the cost is less than the deductible, or if you anticipate future insurance premiums will increase due to making an insurance claim.
Damage
If a car's key is lost and not replaced immediately, the owner can face high costs to repair damaged locks. These costs can be more than the cost of replacing keys.
Insurance can help cover some of the damage if have comprehensive coverage on your vehicle. However, this isn't always the case. To understand your policy, it's important to speak with your agent and read it carefully.
Most car insurance policies do not provide coverage for keys that are stolen. The only exception is if you have roadside assistance coverage. In these instances the insurance company will cover for towing your vehicle to a locksmith who will create a new car key. The driver is accountable for the cost of the new key.
Contact your renters or home insurance provider to determine whether your personal property is insured. You might be able to file an insurance claim if the key is stolen from a backpack or purse. You will have to pay a deductible, which is typically greater than the cost of replacing a key.
In general, it's not worth the hassle to make an insurance claim for missing keys. The cost of replacing a lost key is typically higher than your deductible, and a lot of keys are programmed to be expensive.
If you decide to file an insurance claim ensure that you save all your receipts. The insurance company may reimburse you if your claim is approved, however this will depend on the terms of your specific policy.
If you are unsure whether your home or vehicle insurance covers stolen or lost keys, contact your local Hibbs independent insurance agent. We can assist you in finding the right auto, home or renters' insurance policy to protect your family. We can assist you in comparing quotes for your insurance policy and select the most appropriate option for your needs.
Replacement
If you've lost or have keys to your car stolen, you must take a close look at the different options for replacing keys. The type of car keys you own will determine the insurance policy that will cover its replacement and the amount it will cost. It is also important to consider the impact of submitting a claim with your vehicle insurance on your cost of insurance.
If your car is a newer model that has an electronic key fob you'll probably need to contact the dealer to have a replacement made. In this case, the dealership will need proof of ownership of the vehicle such as the registration or title to make an appropriate key for you. This is why it's important to keep the original registration and car purchase documents in a safe place.
In some cases the comprehensive insurance may cover the cost of a lost or stolen car key. However, you must be prepared to pay the minimum deductible, which will likely be more than the cost of an entirely new key. If you have an ignition that has a standard turn key, it may be easier for you to purchase the new one from the local locksmith shop or auto parts shop.
A car owner who has a lost or stolen car key can also file a claim with their renters' or homeowner's insurance. This is because personal property coverage on these policies usually includes a certain amount for the loss of keys, or other items that are kept in your home.
You can also call your local garage to inquire if they have all the necessary equipment to reprogram your key fob. Some garages provide on-site key programming, which can save you money and time. However it is important to keep in mind that these companies will not be capable of handling more sophisticated read more types of smart keys and may need to send the key fob off to be reprogrammed.
In most cases, filing an insurance claim to replace a lost or stolen key isn't worth the effort. The cost of replacing the key fob will likely exceed your deductible, and it will remain on your record. This could lead to increased insurance premiums when renewing.
Uninsured/Underinsured Motorist Coverage
If you're a smart owner of a vehicle, you probably have a spare set of keys in a secure location. What happens if they are lost or stolen? It's a difficult situation, and getting replacements could be more expensive.
Standard auto insurance policies do not provide coverage for car keys lost or theft. Some policies may cover key loss or theft under collision and comprehensive coverage. However this only applies to cars that were in use at the time. The items in your vehicle may not be covered as well. There are policies that cover electronic fobs, but they are rare.
Typically, you'll need file a separate claim under your home or renters insurance policy for the items in your vehicle to be replaced. If you have both policies that are bundled and you want to save time by filing the claims together.
It's important to keep in mind that even the most secure locking systems may break down over time. It's important to keep an extra key on hand, and to check for wear and tear regularly.
Although it's not ideal to lose your keys, knowing what options you have can ease the burden. You can find insurers that offer roadside assistance plans which will give you replacement keys if yours are ever stolen. Some of these plans offer locksmith services that are free and will reset your immobiliser.
However, while these services are convenient but they're not a substitute for the full benefit of a comprehensive or collision auto insurance policy that includes keys stolen from cars coverage. You should consult a licensed insurance agent if you have any questions about your provider's ability to provide this type of protection. They can also help you in choosing the appropriate policy to suit your needs and budget. Contact us now for a no-cost quote. We will help you shop for the best coverage for car keys stolen insurance, with competitive rates.