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 replacing a key. It will depend on the terms and conditions of your policy however.
It is not uncommon for insurance companies to pay out theft claims without examining the forensic details of the keys.
Theft
Car key theft is a serious problem because it can result in you not having a car and needing alternative transportation. Fortunately, your insurance policy could help in this scenario. The nature of the incident and the terms and conditions contained in your policy will determine if you are able to make an insurance claim. For example, if you are in an accident and your keys are inside of the vehicle at the time of the accident, it may not be considered a theft because the car is used by someone else. In this instance, it would be best to contact the police and inform them immediately.
Car thefts due to unlocked cars and keys that are left inside are increasing, according to the National Insurance Crime Bureau (NICB). These types of incidents can lead to higher insurance premiums for autos, so it is important to understand your insurance coverage and what is covered under your policy.
In general, car insurance policies will not pay for the replacement of keys that are lost or stolen even if you have comprehensive coverage. Some policies offer roadside assistance that includes keys replacement up to a certain amount. It is important to carefully consider the importance of your car's keys and how much it might cost to replace them prior to making claims.
Thatcham Research explains that many modern "smart key" systems use commercial radiowaves to connect with sensors or control modules. This system is known as the controller area network or CAN. The criminals have found a way to hijack the signal and then unlock or start the car from outside. To accomplish this thieves operate in pairs. One thief uses a transmitter to pick up the signal while the other attempts to take the key fob.
Also, personal property in a car is usually covered by renters or homeowners insurance. If the cost of replacing your vehicle's key fob is lower than the deductible, and future increases in 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 as quickly as it should, the owner may be charged a high price to repair damaged lock mechanisms. These costs could even be higher than the cost of replacing keys.
Insurance can cover a portion of the damage if you have comprehensive insurance on your vehicle. However, this is not always the case. It is essential to speak with your insurance representative and read your policy closely to understand what is covered.
Most insurance policies for cars do not include coverage for stolen keys. The only exception is when you have roadside assistance coverage. In these instances, the insurance company will pay to tow your car to a locksmith for the creation of the new car keys. The driver is responsible for the cost of the new key.
You may also contact your landlord or homeowner's insurance to see whether they provide personal property coverage. If your key gets lost 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.
It's generally not worth the hassle to make an insurance claim to replace missing keys. The cost of replacing a lost key is usually greater than your deductible, and a lot of keys are programmed to be expensive.
Keep all receipts in case you decide to submit an insurance claim. Your insurance company will reimburse you if your claim is approved, however it will depend on the specifics of your 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 auto, home, or renters' insurance to safeguard your family. We can assist you in comparing quotes for your insurance policy and choose the best policy for your specific needs.
Replacement
It's important to consider your options in case you lose or have lost your car keys. The kind of car key you own will determine the insurance policy that will replace it and how much it could cost. You should also consider whether filing a claim with your car insurance will affect your premiums.
If your car is a newer model with an electronic key fob, you'll likely need to visit the dealer to have an alternative key made. In this scenario, the dealership will need proof of ownership of the vehicle such as the registration or title to make the new key for you. This is the reason it's essential to keep copies of your registration and purchase documents in a secure location.
In some cases, comprehensive coverage may be able to cover the cost of a lost or stolen car key. You'll have to pay a deductible that is usually higher than the cost of an alternative key. If you have an ignition that is standard, it might be easier to find a replacement at a locksmith or auto parts store.
Another alternative for car owners who have a stolen or lost key is to file a claim with their renters or home insurance. This is because personal property coverage on these policies usually covers a certain amount for the loss of keys, or other items which are kept at your home.
You can also call your local garage to find out whether they have the tools needed to reprogram your vehicle's key fob. Some locations offer key programming on site which can save time and money. However it's important to keep in mind that these companies will not be able to handle more advanced kinds of smart keys. They may need to send the key fob away to reprogramme it.
In most cases, it's not worth the effort and time to make an insurance claim for a stolen or lost car key. The costs of replacing the key fob will likely exceed your deductible and it will remain on your record and could result in more expensive premiums at renewal.
Uninsured/Underinsured Motorist Coverage
If you're a smart car owner, you likely have spare keys in a safe place. What happens if they're stolen or lost? It's a stressful and costly situation.
Standard auto insurance policies don't provide coverage for car keys lost or theft. They may offer some coverage under collision or comprehensive 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 contents of your vehicle are covered. There are policies that cover electronic fobs, but they are rare.
Typically, you'll need make a separate claim to your home or renters insurance policy for the items in your vehicle to be replaced. But if you have your policies in a bundle, you can often save yourself time by filing both claims at once.
It's a good idea keep in mind that even the most secure locking systems could be damaged in time. It is essential to have a spare key set on hand and to look for wear and tear often.
Although it's not ideal to lose your keys, knowing what options are available can help ease the stress. Find insurers who offer roadside assistance plans. They will give you click here new keys in the event that your keys are stolen. Some of these insurance companies will also offer locksmith services and reprogramming your immobiliser without charge.
However, while these services are convenient, they aren't an alternative to the full benefit of a collision or comprehensive auto insurance policy that includes stolen car keys coverage. It is recommended to speak with an insurance professional licensed to do so If you have any doubts regarding the ability of your insurance provider to offer this type of insurance. They can also help you in choosing the appropriate policy to meet your requirements and budget. Contact us now for a no-cost quote. We will help you shop for the best insurance for car keys stolen insurance at affordable rates.