Can You Make a Claim For the Cost of a Car Key Replacement?
If you have comprehensive car insurance coverage, you might be able to submit an claim for the cost of a replacement key. The conditions and terms of the policy will determine if you can claim for an additional key.
Unfortunately, it is not uncommon for insurers to pay theft claims without conducting an exhaustive check of the keys' forensic information.
Theft
Car key theft is a major issue because it could leave you without a vehicle and in need of a different means of transportation. Your auto insurance policy could help you in such a situation. The nature of the incident and the terms and conditions of your policy will determine whether or not you make an insurance claim. For instance, if are in an accident and your keys are inside of the vehicle at the time, it may not be considered a theft since the car is used by someone else. In this situation, it would be best to call the police and inform them immediately.
Car thefts that result from locked cars and keys that are left inside are increasing, according to the National Insurance Crime Bureau (NICB). These crimes can result in high auto insurance rates, so it is important to understand your coverage and what is covered under your policy.
Most car insurance policies do not cover the cost of replacement keys in the event they are damaged or lost, even if comprehensive coverage is included. Some policies offer roadside assistance that includes keys replacement within a certain limit. For this reason, it is important to carefully consider the worth of your car's key and the amount it would cost to replace them before filing claims.
Thatcham Research explains that many modern "smart key" systems utilize commercial radiowaves to communicate with sensors or control modules. This system is called the controller area networks, also known as CAN. The criminals have discovered an opportunity to steal the signal and unlock or start the vehicle from outside. For this thieves collaborate in pairs. One thief is outside with a transmitter device in order to detect the signal, while another is trying to steal the key fob.
Also, personal property inside a car is usually covered by homeowners or renters insurance. It might be worthwhile to replace your car's remote fob in the event that the cost is lower than the deductible, or if you anticipate future insurance premiums that are incurred by making claims.
Damage
If a lost car key is not replaced promptly, the owner may be charged a high price to repair damaged lock mechanisms. These expenses can even surpass the cost of replacing keys.
Insurance can help cover some of the damages if you have comprehensive coverage on your vehicle. However, this is not always the case. It's important to talk with your auto insurance agent and read your policy closely to know what's covered.
Most car insurance policies exclude insurance for keys that have been stolen. The only exception is the case if you have roadside assist coverage. In these instances the insurance company will offer to tow your vehicle to a locksmith who will create an entirely new key. The driver is accountable for the cost of the new key.
You may also contact your landlord or homeowner's insurance to see if they offer personal property insurance. If your key is lost in a purse or backpack, you may be able to claim all of the contents in the bag. You would have to pay a deductible that is usually more than the cost of replacing a key.
In general filing an insurance claim is not worth the hassle. The replacement costs are usually less than your deductible and many newer keys require programming which can be very expensive.
Save all receipts if you decide to file an insurance claim. Your insurance company can pay you back if the claim is approved, however this will be contingent on the terms of your specific policy.
If you are unsure whether your home or car insurance covers stolen or lost keys, call your local Hibbs independent insurance agent. We can assist you in selecting the best auto, renters', or home insurance policy to protect your loved ones. If it's time to review your insurance plan We can help you compare quotes and help you select the best options for your needs.
Replacement
It is important to think about your options in the event that you've lost or had your car keys stolen. The type of car keys you have will determine the insurance policy that will replace it and how much it may cost. You also have to consider whether filing a claim on your car insurance will affect your insurance premiums.
You'll need to call your dealer if you own a vehicle with an electronic key. In this instance the dealer will require evidence of ownership of the vehicle such as the title or registration in order to make an appropriate key for you. This is the reason it's essential to keep the original registration and the purchase of your car in a safe place.
In some instances, comprehensive coverage may cover the cost of a stolen or lost car key. However, you should be prepared to pay for the minimum deductible, which will likely be higher than the cost of the new key. If you own an ignition with a standard turn key, it could be easier for you to buy the new one from a local locksmith or auto parts store.
Another alternative for car owners who have lost or stolen keys is to file a claim with their home or renters insurance. Personal property coverage is usually included in these policies and covers a specific amount to cover the loss of keys or other items kept at home.
You can also contact your local garage to inquire whether they have the equipment needed to reprogram your key fob. Some garages offer on-site key programming services, which can save you money as well as time. It is important to keep in mind that these businesses may not be able to handle more advanced smart keys, and you may need to send your key fob to a third party to reprogramme it.
In the here majority of cases, filing an insurance claim to replace a stolen or lost key isn't worth the effort. The costs of replacing the key fob could exceed your deductible and it will remain on your file which could lead to higher premiums upon renewal.
Uninsured/Underinsured Motorist Coverage
If you're a smart owner of a car you are likely to have a spare set of keys in a safe location. What happens if they get lost or stolen? It's a stressful and costly situation.
Standard auto insurance policies don't cover car key loss or theft. Some policies may cover key loss or theft under comprehensive and collision coverage. However, this is only applicable if the car was in use at the time. It's not certain that the belongings in your vehicle are covered. You can find policies that include additional coverage for electronic fobs, such as RFIDs, but these are rare.
Typically, you'll need to file a separate claim under your renters or home insurance policy for the items in your vehicle to be replaced. If you have both policies combined, you can save time by filing both claims together.
Even the most secure locking system could fail over time. This is why it's crucial to always keep a spare set of keys in the lock and to look for signs of wear and tear regularly.
Understanding your options can aid in reducing stress. There are insurance companies that provide roadside assistance programs that can provide you with replacement keys if yours are ever stolen. Some of these plans will also provide you with locksmith services and reprogramming your immobiliser at no cost.
While these services are convenient but they're not an alternative to the full benefit of a comprehensive or collision insurance policy for vehicles that provides the protection of stolen car keys. It is recommended to speak with a licensed insurance agent If you have any doubts about your provider's ability to provide this type of protection. They can help you choose the right policy to meet your budget and needs. Contact us today to get a no-cost quote. We will help you shop for the best insurance coverage for car keys stolen insurance, at competitive rates.