Can You Make a Claim For the Cost of a Car Key Replacement?
If you have comprehensive insurance for your car coverage, you might be able to submit an claim for the cost of a replacement key. It will depend on the terms and conditions of your policy, however.
Unfortunately, it is not common for insurers to settle theft claims without doing a thorough check of the keys' forensic information.
Theft
Car key theft is a major problem because it can result in you not having a car and needing alternative transportation. Fortunately, your auto insurance policy can help in this situation. The nature of the incident, along with the terms and conditions of your policy will determine whether or not you can file an insurance claim. If you are in a car accident and your keys were in the vehicle, it may not be considered theft as the car was already occupied by a different person. In this case, it is best to contact the police immediately.
According to the National Insurance Crime Bureau, car thefts are on the increase because of unlocked vehicles and keys left in vehicles. These crimes can result in high auto insurance rates, so it is important to know your coverage and what is covered under your policy.
In general, most automobile insurance policies do not cover the cost of new keys that are stolen or lost even when you have a comprehensive insurance. However, some plans do offer roadside assistance coverage that covers key replacement up to a specific limit. It is important to consider the cost of replacing your car keys before filing an insurance claim.
Thatcham Research explains that many modern "smart key" systems use commercial radiowaves for communication with sensors or control modules. This system is called the controller area network, or CAN. Thieves have found a way to hijack the signal, which allows them to unlock or start the car from outside it. To accomplish this, thieves typically operate in pairs. One thief stands outside with a transmitter device in order to receive the signal while another tries to steal the key fob itself.
Also, personal property inside the vehicle is usually covered by renters or homeowners insurance. If the cost of replacing your vehicle's key fob is less than the deductible and any future insurance premium increases that might be associated with filing an insurance claim, it could be worth it.
Damage
If a car key is lost and is not replaced immediately the owner could be charged a high price to repair damaged lock mechanisms. These costs could even exceed the cost of replacing keys.
If you have comprehensive insurance on your car it may help to cover certain damages. This is not always true. It is essential to speak with your auto insurance agent and study your policy carefully to know what's covered.
The majority of car insurance policies do not cover keys that are stolen. Only when you have roadside insurance can you get coverage for keys stolen. In these cases, the insurance company will cover to tow 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 if personal property is covered. If you lose your key in a bag or purse it is possible to file a claim for all of the contents in the bag. You will have to pay a deductible, which is usually more than the cost of replacing a key.
In general making an insurance claim is not worth the effort. The replacement costs are rarely less than your deductible and most newer keys require programming which can be very expensive.
Save all receipts if you decide to make an insurance claim. Your insurance company can pay you back if the claim is approved, however it will depend on the terms of your specific policy.
If you are unsure whether your home or vehicle insurance covers stolen or lost keys, call your local Hibbs independent insurance agent. We can assist you in selecting the appropriate renters', auto, or home insurance to protect your loved ones. If it's time to review your insurance plan We can help you compare quotes and help you choose the best options for your needs.
Replacement
If you've lost or have keys to your car stolen, it's important to take a close look at the various options available to replace them. The type of key you have can determine what kind of insurance policy you can use to replace it, and what the process will cost. You should also think about the impact of submitting claims with your car insurance on your costs.
If your car is a more recent model that has an electronic key fob you'll likely need to go through the dealer to have a replacement made. In this instance the dealer will require proof of ownership such as the title or registration of the vehicle to make an appropriate replacement key for you. This is why it's important to keep copies of your registration and the purchase of your car in a safe place.
In certain situations the comprehensive insurance may be able to cover the cost of a lost or stolen car key. You will have to pay a deductible, which is typically higher than the cost of an alternative key. If you have a standard turn-key ignition, it car keys stolen from house may be easier to find a replacement at an auto parts or locksmith store.
Another option for car owners who have a stolen or lost key is to file a claim through their renters or homeowners insurance. Personal property coverage is usually included in these policies and includes an amount that will ensure the replacement of keys or other items that are kept at home.
You can also try calling your local garage to find out if they have the equipment needed to reprogram your vehicle's key fob. Some garages provide key programming on-site, which can save time and money. However it is important to remember that these companies typically will not be able to handle more advanced types of smart keys. You might require sending the key fob off for reprogramming.
In most cases, filing an insurance claim to replace a stolen or lost key is not worth the effort. The cost of replacing the key fob will likely be higher than your deductible, and it will remain on your record. This could result in higher insurance premiums when renewal time comes around.
Uninsured/Underinsured Motorist Coverage
If you are a smart owner of a vehicle and you have a spare key set in a safe location. What happens if they get lost or stolen? It's a frustrating situation and getting replacements can be more costly.
Unfortunately the standard auto insurance policies don't usually provide coverage for car keys theft or loss. They may offer some coverage under comprehensive or collision coverage, but this is only available if your car was in use at the time of the theft. It's not a guarantee that the items inside your vehicle will be covered. You can find policies that include additional coverage for things like electronic fobs, but these are rare.
It is typical to file an independent claim with your renters or homeowners insurance for the items you want to replace in your vehicle. If you have both policies bundled and you want to save time by filing the claims together.
It's a good idea be aware that even the most secure locking systems could break down over time. This is why it's crucial to always keep a spare set of keys on hand and to be aware of wear and tear on a regular basis.
While it's never a good idea to lose your keys, knowing what options you have can ease the burden. Find insurance companies that provide roadside assistance plans. These will provide you with new keys in the event your keys are stolen. Some of these plans offer free locksmith services and can reprogram your immobiliser.
However, while these services are convenient but they're not an alternative to the full benefit of a collision or comprehensive auto insurance policy that offers stolen car keys coverage. It is recommended to speak with a licensed insurance agent If you have any doubts about the capability of your provider to offer this type of insurance. They can also help you in selecting the best policy that meets your budget and needs. Contact us today to receive no-cost quotes. We'll help you find the best coverage at competitive rates including insurance for car keys stolen.