Are Lost Or Stolen Car Keys Covered by Insurance?
We've all lost our keys in the car. Getting them back isn't easy. It's also not cheap to replace your keys, particularly if you have an advanced key fob.
Thankfully comprehensive car insurance (sometimes called "other than collision" coverage) could cover the cost of stolen or lost keys. But is it worth the expense?
What is the key replacement coverage in Car Insurance?
Car Key Replacement Cover is an additional policy in a comprehensive car insurance plan that assists in paying the cost of replacing or repairing the keys of the insured vehicle or locks in the event of them being lost, stolen, lost damaged or destroyed. This policy is easy to purchase and pay online. It doesn't affect your eligibility for a no-claim bonus at renewal.
It's important to note that the cost of replacing stolen or lost car keys as well as your insurance deductible could not make it worthwhile. Outdated mechanical keys are less expensive to replace, while high-tech remote car keys can be costly. In these cases the cost of key replacement could easily exceed your deductible. If you submit a claim based on the loss of keys, it will be recorded on your record of claims, which could lead to higher renewal premiums.
If you're in search of a comprehensive auto insurance plan that covers key replacement make sure you select a plan with an affordable or no deductible. This will help you save money. Compare quotes from a variety of insurance providers to get the best price.
The procedure for claiming key replacement coverage varies by insurer. In the majority of instances, you'll have to report the incident promptly and provide all necessary documentation to your insurance provider. You'll also need to submit an FIR from the police that is one of the most important documents for an insurance claim for a car.
Many home and renters policies include key replacement coverage. You can also make an claim under the personal property protection insurance. This is because most rental and homeowners policies cover theft of personal belongings, including your car keys. The specifics of the coverage can differ from one insurer to another therefore, make sure you read the policy conditions and terms carefully.
Most drivers are aware of how important it is to have a working and functioning car key. However they don't realize that even a key that functions well can be damaged. Keys are susceptible to scratches, cracks and other kinds of damage. This makes them more likely to be broken or stolen. Most of these issues are easily solved by regular maintenance and preventive maintenance.
Are keys covered for wear and Tear?
Typically, car keys aren't covered under your car insurance policy. You can opt to buy a separate insurance policy for your car keys to get help in replacing your lost or stolen key. This type of coverage depends on a variety of variables.
The first thing you should consider is the cost of the insurance. Replacing your keys may not be as costly as you think. In fact, depending on the type of keys you own like electronic key fobs or traditional turn-key ignitions it's possible that they will be less expensive than your policy deductible.
It is also important to take into consideration the cost of filing a claim. Your insurance policy for your car might require you to pay your deductible prior any claims being paid. If the total cost of your vehicle key replacement is greater than your deductible, it's unlikely you'll be able to benefit from making an insurance claim.
If you have a homeowners or renters insurance policy it is essential to check if your policy covers theft or loss of keys. Personal property insurance is typically provided by these policies and will cover the theft of keys as well as other items stolen from your home. It is important to note that your deductible will apply and you may end up paying for the keys stolen by yourself.
You should also inquire with your dealer to find out whether it provides any specific coverage for keys as part of the purchase process. If you choose to purchase this coverage when you purchase your vehicle you can save money in the future should you have to replace keys.
Certain insurance companies provide key replacement coverage as an optional feature or an add-on. The extra cost of this coverage will depend on the specific needs you have and how much money you can afford each month to cover your insurance. Keep your receipts in case you decide to purchase this insurance. You can make a claim should you lose or steal your keys.
Do I have to file a Claim for a Key Replacement?
If you have comprehensive auto insurance, the policy could cover lost keys. The insurer may also offer the replacement of keys as an option at an additional charge. Some providers have national networks of locksmiths that can provide you with the services needed to replace your keys or recode your immobiliser even if the key was never actually taken from the vehicle. This is an extremely useful service when your keys are lost or if you are locked out of your vehicle especially since a lot of cars are equipped with electronic ignition systems that require to be programmed to start the engine.
You'll also need to call your insurance provider and provide the required documents. You'll also need to contact your insurance company and provide the required documents. Some insurance companies will offer a cash-free settlements if you go to one of their garages in their network to have your key replaced. You'll have to ensure that the replacement cost doesn't exceed your deductible and that you meet any other requirements set by the insurer.
In the majority of cases the filing of a claim isn't worth it for a stolen or lost key. This is because the typical car insurance deductible is $1000. Likewise, keys could cost between $200-$500 to replace. It's typically cheaper to purchase new keys yourself when you have spare keys. You'll also be able to avoid the possibility that your premiums will increase in the future as a result of making a claim.
It may be worth filing an insurance claim if the items that were taken from your vehicle are covered by a different type of insurance, such as homeowners' or renters'. This is especially true if you have a low-deductible and the item is expensive or difficult to replace.
It's unlikely, but some insurance companies may permit you to add an endorsement to your policy to protect the loss or theft of your car keys. This type of insurance could be added to comprehensive insurance. It's best to discuss your options with your insurance provider before purchasing a vehicle.
Can I file a Claim for Key Replacement if I Left the keys in the car?
If you leave your keys in your car, and someone takes them away the answer to whether or not you are able to file a claim will depend on your state and the insurance company. Certain states permit you to purchase key replacement insurance as part of comprehensive or other than collision insurance, whereas others do not. Additionally, you should be aware that if your keys get stolen while your vehicle is unlocked, with the engine running and it is parked in a public place and you are unable to make a claim through your auto insurance. However, you might be able to file an claim through the insurance for property or vehicle protection on your policy.
Most insurers will not pay out the keys you have left in your vehicle. This is because it is considered negligence. In some instances, you may be able to file a claim with your home insurance, or a roadside service plan that provides locksmith services. Some of these plans may include a specific section for keys that have been stolen or lost. A claim car stolen with keys in it for keys stolen from a car is not worth filing unless there's an accident that is major or caused damage to the vehicle.
Even so, it could be risky to file a claim in order to recuperate the cost of a stolen or lost key. If you file a lost-key claim and it is determined that the loss was not caused by an event covered like a car crash or a tornado the insurance premium could go up.
If you lose keys to your car It's generally cheaper to replace them than to make an insurance claim to pay the cost of a new car. The replacement of your regular keys can be relatively inexpensive and, in most cases, you won't pay more than the deductible of your policy. A transponder or smart card could cost up to $200, or even more, if you consider the cost of labor and the hourly charge for programming.