Can You Make a Claim For the Cost of a Car Key Replacement?
If you have a comprehensive coverage for your car insurance, you may be eligible to claim the cost of the purchase of a new key. The conditions of the policy will determine if you are eligible to claim the replacement of a key.
It is unusual for insurers to pay theft claims without a thorough examination of the keys' forensic data.
Theft
Car key theft is a significant issue as it can leave you without a vehicle and in need of a different means of transportation. Fortunately, your car insurance policy may help you in this circumstance. Whether or not you make an insurance claim will be contingent on the nature of the incident and the specific terms and conditions that are listed in your policy. For instance, if are in an accident and your keys are inside of the vehicle at the time of the accident the incident, it might not be considered a crime since the vehicle is used by another. In this scenario it is recommended to notify the police right away.
According to the National Insurance Crime Bureau, car thefts are on the increase due to unlocked vehicles and keys left in vehicles. These incidents can result in high auto insurance rates, so it is important to understand your coverage and what is covered by your policy.
In general, the majority of auto insurance policies won't cover your costs for new keys in the event that they are lost or stolen, even when you have a comprehensive insurance. However, certain plans provide roadside assistance, which includes key replacement up to a specific limit. It is crucial to think about the cost of replacing your car keys before making a claim.
Many modern "smart" key systems make use of commercial radio waves to communicate with sensors and control modules, as explained by Thatcham Research. This system is known as controller area networks, or CAN. Thieves have discovered a technique to steal the signal which allows them to open or start the car from outside it. To accomplish this thieves, they work in pairs. One thief utilizes a transmitter to pick up the signal while the other attempts to steal the key fob.
It's also worth noting that personal property inside the vehicle is typically covered by renters or homeowner insurance. If the cost of replacing your vehicle's key fob is lower than the deductible and any future increases in insurance premiums that could be associated with making an insurance claim, it may be worth it.
Damage
If a lost car keys is not replaced immediately, the owner may be charged high-priced fees to repair damaged lock mechanisms. These costs can be more than the cost of replacing the keys.
If you have insurance coverage that is comprehensive on your car it could help pay for some damages. However, this isn't always the situation. It is important to speak with your auto insurance agent and carefully read your policy to understand what is covered.
The majority of car insurance policies do not include coverage for keys that are stolen. The only exception is if you have roadside assistance coverage. In these situations the insurance company could pay to tow your car to a locksmith who can make a new key. However the driver will be responsible for paying for the new key.
You may also contact your home or renters' insurance provider to see whether they provide personal property coverage. You may be able to file an insurance claim if the key is stolen from a backpack or purse. However, you'll need to pay the cost of deductible, which will likely be higher than the cost of the replacement key.
In general making an insurance claim isn't worth the effort. The cost of replacing a lost key is usually higher than your deductible. Additionally, many keys are programmed and can be costly.
If you do decide to file a claim with an insurance company be sure to save all your receipts. Your insurance company can reimburse you if your claim is approved, but it will depend on the terms of your specific policy.
If you're unsure whether your car or home insurance covers lost or stolen keys, contact your local Hibbs independent insurance agent. We can help you choose the right renters', auto, or home insurance to safeguard your loved ones. We can assist you in comparing quotes for your insurance policy and choose the best option for your needs.
Replacement
If you've lost or have your car keys stolen, it's important to examine the various options available to replace them. The kind of car key you own will determine the insurance policy that will replace it and the amount it will cost. You should also consider the impact of filing claims with your car insurance on your cost of insurance.
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 an alternative key made. In this instance, the dealer will need proof of ownership like the title or registration of the vehicle to create the replacement key for you. This is why it's important to keep the original registration and car purchase documents in a safe place.
In certain cases, comprehensive coverage will cover the cost for a lost or stolen key. You'll have to pay a deductible which is typically higher than the cost of the replacement key. If you have a standard turn-key ignition, it may be easier to get a replacement at a locksmith or auto parts store.
Another option for car owners who have lost or stolen keys is to file a claim through their renters or homeowners insurance. This is because personal property coverage on these policies usually includes an amount that is specific to the loss of keys or other items which are kept at your home.
You can also contact your local garage and inquire whether they have the necessary equipment to reprogram your key fob. Some places offer key programming on-site, which can save time and money. However, it's important to keep in mind that these companies typically will not be capable of handling more sophisticated types of smart keys. You might require sending the key fob off to reprogramme it.
In the majority of stolen car keys from house instances it's not worth the time and effort to file an insurance claim for a stolen or lost car key. The cost of replacing the key fob could be more than your deductible. It will also stay on your record, possibly leading to higher premiums upon renewal.
Uninsured/Underinsured Motorist Coverage
If you're a responsible car owner, then you probably have a spare set of keys somewhere secure. What happens if they're lost or stolen? It's a stressful and costly situation.
Unfortunately, standard auto insurance policies don't usually cover car key loss or theft. Some policies may cover car key loss or theft under comprehensive and collision coverage. However, this is only applicable when the vehicle was operating at the time. The items in your vehicle might not be covered as well. There are policies that cover electronic fobs, but they are rare.
It is typical to make an independent claim to your renters or homeowners insurance for the things you want to replace in your vehicle. If you have your policies combined, you can often save yourself time by filing both claims at the same time.
Even the most secure locking system could fail over time. This is why it's important to always keep a spare set of keys in your possession and to look for signs of wear and tear regularly.
Knowing your options can aid in reducing stress. Insurance companies offer roadside assistance plans which will give you replacement keys if yours are ever stolen. Some of these plans will also offer locksmith services and reprogramming your immobiliser for free.
These services may be convenient however they aren't able to replace the advantages of a comprehensive auto insurance policy with stolen car key insurance. If you're unsure whether or not your insurance provider can offer you this type of protection, it's recommended to speak with an authorized agent to discuss your options. They can help you select the best policy to meet your needs and budget. Contact us today to get a no-cost quote. We'll help you find the best coverage at affordable rates, including insurance for keys stolen from your car.