Are Lost Or Stolen Car Keys Covered by Insurance?
We've all left the keys in the car and it can be a big trouble to retrieve them. It's also costly to replace your keys, especially in the case of a sophisticated key fob.
Thankfully, comprehensive auto insurance (also called "other than collision coverage") could cover the cost for keys that are lost or stolen. But is it worth claiming?
What is the key replacement coverage in Car Insurance?
The Car Key Replacement Cover is a policy that can be added to a comprehensive car insurance plan. It will pay for the cost of repair or replacement of keys or locks, as well as locksets in the event that they are stolen, lost, misplaced or damaged. The policy is available online, easy to purchase and settle and it doesn't affect your no-claim bonus at the time of renewal.
It is important to remember that the cost of replacing lost or stolen car keys and your insurance deductible could not be enough to justify the expense. Outdated mechanical keys are less expensive to replace, while high-tech remote car keys can be costly. In these cases the cost of a replacement claim for keys could easily exceed your insurance deductible. If you file a claim to cover the loss of your keys the claim will be recorded on your claims file and could result in higher premiums when it comes time for renewal.
If you are looking for an insurance policy for your car that is comprehensive that covers car key replacement, choose a policy that has the lowest or no deductible. This will allow you to save money. Compare quotes from a variety of insurance companies to find the best price.
The process for claiming insurance for keys to your car varies depending on the insurance company. In most instances, you'll have to notify the insurer of the incident immediately and provide any documentation required to your insurance provider. You'll also have to submit a police FIR which is among the most important documents for a car insurance claim.
Many renters and homeowners policies cover key replacement. You can file an claim under the personal property protection insurance. This is because most homeowners and rental policies will cover the theft of personal items including keys to your car. The specifics of the coverage may vary from one insurance company to the next and therefore it is important to read the policy conditions and terms carefully.
Most drivers are aware of how important it is to have a functioning and functioning car key. However, they are unaware that even a key that works well could be damaged. Keys are prone to scratches, cracks and other types of damage. This makes them more likely to be stolen or damaged. Fortunately, the majority of these issues can be solved with a bit of preventive care and regular maintenance.
Are keys protected against wear and tear?
Typically, keys for cars aren't covered under your car insurance policy. Instead you can purchase an additional key replacement insurance policy to receive assistance with replacing keys that have been stolen or lost. This type of coverage depends on a variety of variables.
The cost of coverage is the first thing you need to be considered. Replacing your keys might not be as costly as you think. In fact, depending on the type of keys you own, such as electronic key fobs or traditional turn-key ignitions it's possible that they could be less expensive than your insurance cost deductible.
It is also important to consider the cost of making a claim. Your car insurance policy might require you to pay the deductible prior to any claims being settled. If the cost of replacing the keys to your car exceeds your deductible, it's unlikely that you'll be benefited from filing a claim.
Another factor to take into consideration is whether your home or renters insurance policy offers any protection for keys stolen or lost. Personal property protection is usually included in these policies and will cover the theft of keys as well as other items stolen from your home. It is important to keep in mind that your deductible still applies and you may end up paying yourself for the keys that were stolen.
Finally, you should contact your local car dealer to determine if they offer any special coverage for keys as part of the buying process. In the time of your car purchase can save you money if you ever require replacing your keys in the future.
Certain insurance companies offer essential replacement coverage as an optional product or add-on. Whether or not this coverage is worth the extra cost will depend on your individual needs and how much you can afford to spend on cost each month. If you do opt to purchase this insurance be sure to keep the receipts so you can claim the insurance in the event your keys are lost or stolen.
Do I need to file a claim for key replacement?
If you have comprehensive car insurance, the loss of keys may be covered by the policy. The insurance provider may also provide key replacement services as an option with a cost. Certain providers have national networks of locksmiths who can provide you with the services needed to replace your keys, or recode your immobiliser even in the event that the key was not actually taken from the vehicle. This can be a valuable service if you have lost your keys permanently or here you are locked out of your vehicle. Many vehicles have electronic ignition systems that require to be programmed to start the vehicle.
If your car keys were stolen, you'll need submit a claim to the police and file an initial report. You'll also have to contact your insurance provider and submit the required documentation. Some providers offer cashless settlements if you visit one of their garages and have your key replaced. You must ensure that the replacement cost is not more than your deductible, and you adhere to any other requirements outlined by the insurance company.
In most instances the filing of a claim is not worth the cost of a stolen or lost key. It's because the standard insurance deductible for a new vehicle is $1000, however your keys could only cost $200 to $500 each. It's typically cheaper to buy new keys on your own when you have spare keys. You'll also avoid the possibility of your future premiums rising because of filing claims.
However, if you have items stolen from the car that are covered by different types of insurance like homeowners or renters, it may be worth filing claims. This is particularly true if the item was valuable or difficult to replace and you have a small deductible.
Although it's not likely, some insurance companies may allow you to add an endorsement for personal property to your policy, which will protect you from losing your keys to your car. This type of coverage is typically offered as an addition to the comprehensive coverage and it's important to talk to your insurance provider about your options before you purchase the car.
Can I file a claim for Key Replacement if I Left the Keys in the Car?
Your state and insurer will determine whether you can make a claim if someone steals your keys. Certain states have laws that permit you to purchase key replacement cover as part of your comprehensive or other than collision insurance and some don't. You should also know that you won't be able to make a claim against your auto insurance if you lose your keys while the vehicle is locked and the engine is running, and the vehicle is parked in a public space. You may be able to file claims under your property or vehicle insurance.
Inputting your keys in the car is considered to be negligence, so most insurers will reject the claim. In some cases you may be able to file an insurance claim through your home insurance or a roadside service plan that offers locksmith services. Some of these plans include a section that deals with keys that have been stolen or lost. A claim for stolen car keys is not worthwhile unless there's serious damage or accident to the vehicle.
Even then, it can be risky to file a claim to recover the cost of a stolen or lost key. If you file a lost-key claim and are able to prove that the theft was not caused by an event such as a car accident or a tornado the insurance premium could go up.
If you lose keys to your car It's generally cheaper to replace them than submit an insurance claim to pay the cost of buying a new car. The replacement of a standard key is relatively cheap, and there's a good chance it won't cost more than the deductible of your policy. A transponder or smart key can cost you up to $200 or even more, when you take into account the cost of labor and the hourly charge for programming.