Can You Make a Claim For the Cost of a Car Key Replacement?
If you have comprehensive insurance for your car coverage, you may be able to submit an claim for the cost of a replacement key. It's dependent on the terms and conditions of your policy though.
It is uncommon for insurers to pay theft claims without doing a thorough check of the keys' forensic data.
Theft
Car key theft is a serious issue because it could cause you to be without a car and in need of alternative transportation. Fortunately, your car insurance policy can help in this circumstance. The nature of the incident, along with the terms and conditions in your policy, will determine if you make an insurance claim. If you're involved in a car crash and your keys were inside the vehicle, it might not be considered theft as the vehicle was already being used by a different person. In this situation it is recommended to call the police and inform them immediately.
According to the National Insurance Crime Bureau, car thefts are on the increase due to unlocked vehicles and keys left in vehicles. These crimes can result in the cost of insurance for automobiles to be high and therefore it is crucial to know your coverage and what is covered under your policy.
Most automobile 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 keys replacement within a certain limit. It is crucial to think about the cost of replacing your car keys before making a claim.
Thatcham Research explains that many modern "smart key" systems use commercial radiowaves for communication with sensors or control modules. This is known as controller area networks, also known as CAN. Thieves have discovered a technique to steal the signal which allows them to open or start a car from outside of it. To accomplish this, thieves collaborate in pairs. One thief is outside with a transmitter device to receive the signal while another is trying to steal the key fob itself.
Also, personal property inside the vehicle is usually covered by renters or homeowners insurance. It might be worthwhile to replace the remote key fob in the event that the cost is lower than the deductible or insurance premiums that are incurred by making an insurance claim.
Damage
If a lost car keys is not replaced as quickly as it should, the owner may be charged expensive fees to repair damaged lock mechanisms. These costs could even exceed 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 be aware of the policy, it's crucial to speak with your agent and to take the time to read it thoroughly.
The majority of car insurance policies do not cover stolen keys. The only exception is the case if you have roadside assist coverage. In these situations the insurance company could help towing your vehicle to a locksmith who will create the new key. The driver is responsible for the cost of the new key.
You may also contact your landlord or homeowner's insurance to see if they offer personal property protection. If you lose your key in a purse or backpack you might be able to claim everything in the bag. However, you would need to pay the deductible, which is likely more than the cost of the replacement key.
In general, filing an insurance claim is not worth the effort. The cost of replacing a lost key is typically higher than your deductible. Additionally, many keys are programmed to be expensive.
Keep all receipts in case you decide to submit an insurance claim. Your insurance company can pay you back 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 lost or stolen keys, call your local Hibbs independent insurance agent. We can help you choose the best renters', auto, or home insurance to safeguard your loved ones. If it's time to review your insurance plan we can review quotes and help you choose the best option for your situation.
Replacement
It is important to think about your options if you've lost or had your car keys stolen. The kind of key you own will determine what insurance policy will pay to replace it, and what the process will cost. It is also important to consider the impact of filing a claim with your vehicle insurance on your premiums.
If your car is a more recent model that has an electronic key fob you'll probably need to visit the dealer to have a replacement made. In this instance the dealer will require proof of ownership of the car such as the title or registration to create a new key for you. This is why it's crucial to keep a copy of your registration and purchase documents in a secure location.
In some cases the comprehensive insurance may pay for the cost of a stolen or lost car key. You will have to pay a deductible that is typically higher than the cost of a replacement key. If you have an ordinary turn-key ignition it is possible to get a replacement at an auto parts or locksmith store.
Another alternative for car owners with a stolen or lost key is to file a claim with their renters or homeowners insurance. Personal property coverage is usually included in these policies and includes the amount needed to protect against the loss of keys, or other belongings kept at home.
You can also call your local garage and inquire if they have all the necessary equipment to reprogram your key fob. Some places provide key programming on-site, which can save time and money. It's important to note that these companies might not be able to manage advanced smart keys, and you might have to send your key fob to a different company to reprogramme it.
In the majority of cases it's not worth the time and effort required to file an insurance claim for a stolen or lost car key. The cost of replacing the key fob is likely be more than the deductible, and it will remain on your record. This could lead to higher insurance premiums at renewal.
Uninsured/Underinsured Motorist Coverage
If you're a savvy car owner, then you probably have a spare set of keys somewhere safe. What happens if they get lost or stolen? It's a frustrating situation, and getting replacements may be more expensive.
Unfortunately, standard auto insurance policies do not typically cover key loss read more or theft. They may offer some coverage under collision or comprehensive coverage, but this is only if your vehicle was being driven at the time of the theft. It's not certain that the items inside your vehicle are covered. There are policies that cover electronic fobs but they are not common.
Typically, you'll need to file a separate claim with your renters or homeowners insurance policy for the items that are in your vehicle to be replaced. If you have both policies that are bundled, you can reduce time by filing the claims together.
It's a good idea to keep in mind that even the most secure locking systems could break down with time. It is essential to have a spare key set in your inventory and to look for wear and tear frequently.
Although it's not ideal to lose your keys, understanding what your options are will help ease the stress. Insurance companies offer roadside assistance plans that will provide you with keys to replace if yours is ever stolen. Some of these plans will also offer locksmith services and reprogramming your immobiliser for free.
Although these services are convenient, they aren't a substitute for the full benefits of a comprehensive or collision auto insurance policy that offers the protection of stolen car keys. If you're unsure whether your insurance company can provide you this kind of insurance it's recommended to talk to an agent licensed to discuss your options. They can also help you choose the right policy that meets your requirements and budget. Contact us today to receive a free quote. We'll help you find the best coverage for you at competitive rates, including insurance for car keys stolen.