Can You Make a Claim For the Cost of a Car Key Replacement?
If you have comprehensive coverage on your automobile insurance, you might be eligible to get a new key. The conditions and terms of the policy will determine whether you can claim for an additional key.
It is not uncommon for insurance companies to pay theft claims without examining the forensic details of the keys.
Theft
Car key theft is a serious issue as it can leave you without a vehicle and needing alternative transportation. Your auto insurance policy could assist you in this situation. The nature of the incident, along with the terms and conditions of your policy, will determine if you make an insurance claim. If you're in a car accident and your keys were inside the vehicle, it could not be considered theft as the vehicle was occupied by another person. In this case, it would be best to contact the police and notify them immediately.
According to the National Insurance Crime Bureau, car thefts are increasing due to vehicles that are not locked and keys left in the vehicle. These types of incidents can result in high auto insurance premiums therefore it is important to know what your policy covers.
In general, most automobile insurance policies do not pay for the replacement of keys if they are stolen or lost even if you have comprehensive coverage. Some plans include roadside assistance that includes keys replacement up to a limit. It is crucial to think about the cost of replacing your car keys before making a claim.
Thatcham Research explains that many modern "smart key" systems utilize commercial radiowaves to connect with sensors or control modules. This system is called the controller area network, or CAN. Thieves have discovered a method to hijack the signal, which allows them to unlock or start a car from outside of it. To accomplish this thieves, they work in pairs. One thief stands in the street with a transmitter device in order to receive the signal while another tries to take the key fob itself.
It's also important to note that personal property that's inside the vehicle is usually covered by homeowner or renters insurance. If the cost of replacing your car's key fob is lower than the deductible and future increases in insurance premiums that could be associated with filing an insurance claim it may be worth it.
Damage
If a car key gets lost and not replaced immediately, the owner can face high costs to repair damaged locks. These costs can be more than the cost of replacing keys.
If you have insurance coverage that is comprehensive on your car, it can help cover some damages. However, this isn't always the situation. It's important to talk with your insurance representative and read your policy closely to understand what is covered.
The majority of car insurance policies do not cover keys stolen. Only if you have roadside protection can you receive coverage for keys stolen. In these instances the insurance company will pay to tow your vehicle to a locksmith who will create a new car key. However the driver is accountable for the new key.
Check with your renters or home insurance provider to determine if personal property is covered. You may be able to file an insurance claim if the key is lost in the purse or backpack. However, you'll need to pay your deductible, which is likely higher than the cost of the replacement key.
In general, it's not worth the hassle to make an insurance claim for missing keys. The replacement costs are usually lower than your deductible and most modern keys require programming, which could be costly.
If you decide to file a claim with an insurance company, make sure to keep all receipts. Your insurance company will pay you back if your claim is approved, but it will depend on the terms of your specific policy.
If you're unsure whether your home or car 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 here quotes for your insurance policy and select the best option for your situation.
Replacement
If you lose or have your car keys lost, it's crucial to examine the various options available to replace keys. The type of car key you own will determine the insurance policy that will replace it and the amount it will cost. It is also important to consider the effect of filing an insurance claim through your vehicle insurance on your costs.
If your car is a more recent model with an electronic key fob, you'll likely have to visit the dealer to get a replacement made. In this situation the dealer will require evidence of ownership, such as the title or registration of the vehicle in order to create an appropriate replacement key for you. This is why it's important to keep copies of your registration and the purchase of your car in a safe place.
In certain cases, comprehensive coverage will cover the cost of a lost or stolen key. However, you must be willing to pay the deductible, which is likely more than the cost of an entirely new key. If you have an ignition that has a standard turn key, it could be easier for you to purchase a new one at an auto locksmith or a local locksmith parts shop.
A car owner who has a lost or stolen car key can also file a claim through their home or renters' insurance. Personal property coverage is usually included in these policies and covers the amount needed to ensure the replacement of keys, or other items that are kept at home.
You can also call your local garage and ask whether they have the equipment needed to reprogram your key fob. Some places offer key programming on site and can save you time and money. It's important to remember that these businesses may not be able to manage the more sophisticated smart keys and you might have to send your key fob to a different company for reprogramming.
In the majority of instances it's not worth the effort and time to submit an insurance claim for a stolen or lost car key. The cost of replacing the key fob could exceed your deductible. It will also remain on your record which could lead to higher premiums when you renew.
Uninsured/Underinsured Motorist Coverage
If you're a responsible car owner, then you probably have a spare set keys somewhere safe. What happens if they are lost or stolen? It's a frustrating situation, and getting replacements may be more costly.
Standard auto insurance policies do not cover the loss of keys to your car or theft. Some policies may cover key theft or loss under comprehensive and collision coverage. However, this is only applicable if the car was in use at the time. The items in your vehicle may not be covered. There are policies that cover electronic fobs but they are rare.
Typically, you'll need to make a separate claim to your renters or homeowners insurance policy for the items inside your vehicle that need to be replaced. If you have both policies that are bundled, you can reduce time by filing the claims together.
It's a good idea to be aware that even the most secure locking systems may break down over time. This is the reason it's essential to always keep a spare set of keys in the lock and to look for signs of wear and tear on a regular basis.
While it's never ideal to lose your keys, understanding what options are available can ease the burden. You can find insurers that provide roadside assistance plans that can provide you with keys to replace if yours is ever stolen. Some of these services include locksmith services that are free and will reset your immobiliser.
These services can be beneficial however they aren't able to take away the benefits of a comprehensive car insurance policy. They don't replace stolen car key coverage. If you're unsure whether or not your insurance company can provide you this kind of insurance, it's a good idea to talk to a licensed agent to discuss your options. They can also assist you to pick the right policy for your needs and budget. Contact us now for a no-cost quote. We will help you shop for the best coverage including car key theft insurance, with competitive rates.