Are Lost Or Stolen Car Keys Covered by Insurance?
We've all left the keys in the car and it can be a big hassle to get them back. The cost of replacing your keys is also high, especially if they are keys fobs.
Thankfully comprehensive car insurance (sometimes called "other than collision" coverage) can be able to cover the cost of stolen or lost keys. But is it worth the risk?
What is the most important replacement Coverage in Car Insurance Policy?
Car Key Replacement Cover is an added policy that is part of a comprehensive car insurance plan that covers the cost of repair or replacement of the keys of the insured vehicle or lock/lockset in case they get stolen, lost, misplaced, damaged or broken. The policy is available on the internet, is simple to purchase and settle and won't affect the eligibility of your no-claim bonus at the time of renewal.
It's important to note that the cost of replacing stolen or lost car keys and your insurance deductible might not make it worthwhile. Replacement of keys made of metal older ones can be less expensive, whereas remote car keys that have high-tech features can be more expensive. In these instances claims for replacement keys could easily exceed your policy deductible. If you file a claim to cover the loss of your keys, the incident will remain on your claims record which could lead to higher premiums when it comes time for renewal.
If you're looking for an insurance policy for your car that is comprehensive that covers car key replacement, choose a policy with an affordable or no deductible. This will help you save money. It's also a good idea to compare quotes from a variety of insurance providers to determine the most affordable price.
The procedure for claiming key replacement coverage varies by insurance company. In most instances, you'll need notify the insurer of the incident immediately and provide any necessary documentation to your insurance company. You'll need to submit the police FIR, which is one of most important documents when filing a claim for car insurance.
While the majority of car insurance policies do not provide key replacement coverage, some home and renters insurance plans permit you to claim through personal property protection coverage. This is because most homeowners and rental policies protect personal belongings from theft including keys to your car. The specifics of the coverage may vary from one insurer to another therefore, make sure you review the policy's terms and condition carefully.
Many drivers are aware of how crucial it is to have a functioning and functioning car key. However, they are unaware that even a key that functions well can be damaged. Keys are prone to cracks, scratches and other kinds of damage. This makes them more prone to be broken or stolen. Fortunately, most of problems can be addressed with a small amount of regular maintenance and preventive care.
Are keys covered against wear and tear?
Car keys aren't covered by your auto insurance policy. You can opt to purchase a separate protection for your car keys to get help in replacing your lost or stolen key. Whether this type of coverage is worth it will depend on a variety of factors.
The cost of insurance is the first thing to take into consideration. Replacing your keys may not be as expensive as you'd think. It is possible to purchase keys for less than the insurance deductible depending on whether you have electronic key fobs, traditional turn-key ignitions or both.
It is also important to think about the cost of filing a claim. The policy for your car insurance might require you to pay the deductible prior to any claims being settled. If the cost of replacing the keys to your car exceeds the deductible, it's unlikely that you'll be benefited from filing a claim.
Another factor to be aware of is whether your home or renters insurance policy offers any protection for keys stolen or lost. In general, personal property coverage provided through these policies will include the theft of your keys in addition to other items that are stolen from inside or outside your home. It is important to keep in mind that your deductible will still apply and you could end up paying yourself for keys stolen.
It is also advisable to check with your dealership to see whether they offer keys with a special insurance policy as part of the purchasing process. If you choose to purchase this coverage when you purchase your car you can save money in the future if you need to replace the keys.
Certain providers offer essential replacement coverage as an optional product or add-on. The decision on whether or not this insurance is worth the additional cost will depend on your individual needs and how much you are able to afford on your policy cost each month. Keep your receipts in case you decide to purchase check here this coverage. You could then make a claim should you lose or steal your keys.
Do I Need to File a Claim for Key Replacement?
If you have comprehensive car insurance, lost keys may be covered by the policy. The insurer may also offer key replacement services as an optional service for an additional cost. Some insurers have a national network of locksmiths who will replace your keys or recode the immobiliser even if you have not removed the keys from your car. This can be a valuable service in the event that you've lost your keys for the last time or you are locked out of your vehicle. Many vehicles have electronic ignition systems that need to be programmed to allow you to start the car.
You'll also need to call your insurance provider and provide the necessary documents. You will also need to contact your insurance company and provide the required documents. Certain providers offer cashless settlements when you visit one of their network garages and request a replacement key. You'll have to ensure that the replacement costs don't exceed your deductible, and that you meet other requirements set by the insurer.
In the majority of instances it's not worth filing an insurance claim for a lost or stolen key. This is because the average insurance deductible for new vehicle is $1000, but keys can cost $200 to $500 each. If you have spare keys, it's generally more affordable to pay for the new keys out of pocket. You'll also avoid increasing your premiums in the future due to.
It could be worthwhile to file claims if the items that were stolen from your vehicle are covered by another 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.
Although it's not likely, some insurance companies may permit you to add an individual property endorsement to your policy that will be able to cover the loss of your keys to your car. This type of coverage can be added to comprehensive coverage. It's best to discuss your options with your insurance company prior to purchasing a car.
Can I make a claim for a key replacement if I left keys in the car?
Your state and insurer will decide if you are able to make a claim in the event that someone steals your keys. Some states allow you to purchase key replacement insurance as part of comprehensive insurance or other than collision insurance, but others do not. You should also be aware that you won't be able make a claim for your auto insurance if you lose your keys when the vehicle is not locked or the engine is running and the car is parked in public. You may be able make a claim under your property or vehicle insurance.
The act of leaving keys in your car is considered to be negligence, which is why most insurance companies will deny a claim. In some cases you may be allowed to file a claim through your home insurance or a roadside assistance plan that offers locksmith services. Some of these plans may contain a specific section regarding keys that are stolen or lost. In general,, a claim for keys that were stolen will not be worth filing unless it's to do with a significant damage or loss to your car.
Even then, it can be risky to file a claim to get back the cost of a stolen or lost key. For instance, if you submit a claim to recover lost keys and you find that the theft was not caused by an event covered like a vehicle fire or a tornado, your automobile insurance premium could rise.
It's usually more affordable to simply replace your car keys in the event that you lose them than it is to file a car insurance claim to cover the cost of replacing your vehicle. Replacing your regular key is relatively cheap and most likely you'll pay less than the deductible in your insurance policy. A transponder or smart card could cost as much as $200, or even more, if you consider the cost of labor and the hourly cost for programming.