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 eligible to get a new key. The terms and conditions of the policy will determine if you are eligible to claim a replacement key.
It is not unusual for insurance companies to pay out theft claims without scrutinizing the forensic information of the keys.
Theft
The theft of car keys is a serious problem, because it could leave you stranded without a vehicle. You may need to find another way of transport. Fortunately, your car insurance policy could help in this situation. The decision to submit an insurance claim will depend on the nature of the incident as well as the specific terms and conditions specified in your policy. For instance, if are involved in an accident and your keys are in the interior of the vehicle at the time of the accident the incident, it might not be considered a theft since the car is used by another. In this situation it is recommended to notify the police right away.
Car thefts resulting from unlocked cars and keys that are left inside are increasing, according to the National Insurance Crime Bureau (NICB). These crimes can result in higher insurance premiums for autos which is why it's important to understand your coverage and what is covered under your policy.
In general, automobile insurance policies do not pay for the replacement of keys if they are stolen or lost even if you have comprehensive coverage. However, some plans do provide roadside assistance that includes keys replacement up to a specific limit. It is essential to take a close look at the value of your car's keys and the amount it would cost to replace them before making claims.
Modern "smart" key systems use commercial radio waves to communicate with sensors and control modules, as explained by Thatcham Research. This is known as controller area networks, also known as CAN. The thieves have figured out a way to hijack the signal to unlock or start the car from outside. To accomplish this, thieves usually operate in pairs. One thief stands in the street with a transmitter device in order to detect the signal, while another tries to take the key fob itself.
Also, personal property in a car is usually covered by homeowners or renters insurance. If the cost of replacing your vehicle's key fob is less than the deductible and any future insurance premiums that could be incurred when filing an insurance claim, it might be worth it.
Damage
If a car key is lost and is not replaced immediately the owner could be charged expensive fees to repair damaged lock mechanisms. These expenses can even surpass the cost of replacing the keys.
If you have comprehensive insurance on your vehicle it could help pay for some damages. However, this isn't always the case. To understand your policy, it's important to talk to your agent and read it carefully.
Most insurance policies for cars do not include coverage for stolen keys. The only exception is the case if you have roadside assist coverage. In these instances the insurance company could help towing your vehicle to a locksmith who will make the new key. The driver is responsible for the cost of the new key.
Check with your renters or home insurance provider to determine whether personal property is covered. If you lose your key in a bag or purse, you may be able to claim all of the contents in the bag. However, you'll have to pay the deductible, which is likely higher than the cost of the replacement key.
Generally, it's not worth the effort to file an insurance claim to replace missing keys. The replacement costs are rarely less than your deductible and most newer keys require programming which can be expensive.
Keep all receipts in case you decide to file an insurance claim. Your insurance company can pay you back if your claim is approved, however this will be contingent on the terms of your specific policy.
If you have questions about whether your car or home insurance covers stolen or lost keys, contact your local Hibbs independent insurance agent. We can assist you in finding the best home, auto, or renters' insurance policy to protect your family. If it's time for you to review your insurance plan, we can compare quotes and help you pick the best option for your needs.
Replacement
If you've lost or had your car keys stolen, it's important to take a close look at the various options available to replace keys. The type of car keys you own will determine the insurance policy that will provide for its replacement and how much it may cost. You should also think about the impact of submitting an insurance claim through your vehicle insurance on your premiums.
If your car is a more recent model that has an electronic key fob, you'll likely need to visit the dealer to get a replacement made. In this instance the dealer will require proof of ownership like the title or registration of the vehicle to make an appropriate replacement key for you. This is the reason it's essential to keep copies of your registration and the purchase of your car in a secure place.
In some cases comprehensive coverage will cover the cost for a lost or stolen key. However, you must be prepared to pay the deductible, which is likely higher than the cost of the new key. If you have an ordinary turn-key ignition it may be easier to get a replacement at an auto parts or locksmith store.
A car get more info owner who has a lost or stolen car key can also file a claim with their home or renters' insurance. Personal property insurance is typically included in these policies and includes a specific amount to ensure the replacement of keys or other belongings kept at home.
You can also call your local garage to find out whether they have the equipment necessary to reprogram your car's key fob. Some places provide key programming on-site and can save you time and money. It's important to note that these businesses may not be able to manage the more sophisticated smart keys and you may need to send your key fob to a third-party to reprogramme it.
In the majority of cases, submitting an insurance claim to replace a lost or stolen key is not worth the effort. The cost of replacing the key fob will likely be more than your deductible, and it will remain on your record. This could lead to higher insurance premiums when renewal time comes around.
Uninsured/Underinsured Motorist Coverage
If you're a savvy car owner, then you probably have a spare set keys in a safe place. What happens if they're lost or stolen? It's a costly and frustrating situation.
Unfortunately, standard auto insurance policies do not typically cover key theft or loss. Some policies may cover key loss or theft under collision and comprehensive coverage. However this coverage is only available to cars that were in use at the time. It's also not guaranteed that the contents of your vehicle will be covered either. There are policies that cover electronic fobs, but they are extremely rare.
Typically, you'll have to file a separate claim with your renters or home insurance policy for the items that are in your vehicle that need to be replaced. However, if you have both policies bundled together and you're able to save yourself time by filing both claims at once.
It's important to keep in mind that even the most secure locking systems can fail with time. This is why it's crucial to always keep a spare set keys on hand and to check for signs of wear and tear regularly.
While it's never a good idea to lose your keys, knowing what options are available can ease the burden. Insurance companies provide roadside assistance plans which will give you replacement keys if yours are ever stolen. Some of these services will also offer locksmith services and reprogramming your immobiliser at no cost.
These services may be convenient however they aren't able to replace the benefits of a comprehensive auto insurance policy that includes stolen vehicle key coverage. If you're uncertain whether your insurance provider can offer you this type of coverage, it's best to talk to an agent licensed to discuss your options. They can also assist you to pick the right policy that meets your requirements and budget. Contact us today to receive an estimate for no cost. We can assist you in finding the best coverage for you at competitive rates, including insurance for keys to your car stolen.