Can You Make a Claim For the Cost of a Car Key Replacement?
If you have comprehensive coverage for your car insurance, you could be eligible to claim the cost of the purchase of a new key. The conditions and terms of the policy will determine whether you are eligible to claim the replacement of a key.
It is not uncommon for insurance companies to pay out theft claims without scrutinizing the forensic data of the keys.
Theft
Car key theft is a significant issue because it could leave you without a vehicle and needing alternative transportation. Fortunately, your car insurance policy may help you in this scenario. The decision to make an insurance claim will depend on the nature of the incident and the specific terms and conditions specified in your policy. For instance, if you are in an accident and your keys are inside of the vehicle at the time of the accident, it may not be considered a theft since the car is already being occupied by someone else. In this case, it is best to notify the police right away.
According to the National Insurance Crime Bureau, car thefts are on the rise because of unlocked vehicles and keys left in vehicles. These types of incidents can result in the cost of insurance for automobiles to be high, so it's important to know what your policy covers.
Most car insurance policies don't cover the cost of replacement keys in the event they get lost or damaged, even if comprehensive coverage is provided. However, some policies do provide roadside assistance that includes keys replacement up to a certain limit. This is why it is crucial to consider the worth of your car's key and how much it might cost to replace them prior to making claims.
Thatcham Research explains that many modern "smart key" systems use commercial radiowaves for communication with sensors or control modules. This system is referred to as the controller area network or CAN. Thieves have discovered a method to steal the signal which allows them to unlock or even start the car from outside it. To accomplish this thieves operate in pairs. One thief makes use of a transmitter to receive the signal while the second attempts to take the key fob.
Also, personal property in the car is typically covered by homeowners or renters insurance. If the cost of replacing your car's key fob is less than the deductible, and future insurance premium increases that might be incurred by making an insurance claim, it may be worth it.
Damage
If a lost car keys is not replaced promptly, the owner may be charged expensive fees to repair damaged lock mechanisms. These costs can even exceed the cost of replacing keys.
If you have a comprehensive insurance policy on your car it may help to cover some damage. This is not always true. To fully understand your policy, it's important to speak with your agent and read it carefully.
Most car insurance policies do not cover keys stolen. Only if you have roadside protection will you be able to get insurance for keys stolen. In this case, the insurance company will cover to tow your car to a locksmith to create the new car keys. The driver is responsible for the cost of the new key.
You may also contact your home or renters' insurance to see if they offer personal property protection. You may be able to file an insurance claim if the key is stolen from the purse or backpack. You will have to pay a deductible that is usually more than the cost of replacing the key.
In general, filing an insurance claim isn't worth the effort. The cost of replacing the key is typically higher than your deductible, and a lot of keys are programmed and can be costly.
If you do decide to file a claim with an insurance company be sure to save all your receipts. Your insurance company will reimburse you if your claim is approved, but it will depend on the terms of your specific policy.
Contact your local Hibbs independent agent if you have questions about whether or not your auto or home insurance will cover stolen or lost keys. We can help you find the best auto, home or renters' insurance to safeguard your family. We can assist you in comparing quotes for your insurance policy, and help you choose the most appropriate option for your specific needs.
Replacement
It's important to consider your options if you've lost or had your car keys stolen. The type of car key you have will determine the insurance policy that will replace it and the amount it will cost. You also have to consider whether filing a claim against your vehicle insurance will impact your cost.
You'll need to contact your dealer if you own an electronic key. In this instance, the dealership will need proof of ownership of the car such as the title or registration in order to make a new key for you. This is why it's crucial to keep a copy of your registration and the purchase of your car in a safe place.
In certain situations comprehensive insurance can be able to cover the cost of a lost or stolen car key. However, you read more should be prepared to pay the minimum deductible, which will likely be higher than the cost of an entirely new key. If you have an ignition that has an ordinary turn key, it could be simpler to purchase a new one at the local locksmith shop or auto parts store.
A car owner who has lost or stolen car key can also file a claim with their renters' or home insurance. Personal property insurance is typically included in these policies and covers a specific amount to ensure the replacement of keys, or other belongings kept at home.
You can also contact your local garage and ask if they have all the necessary equipment to reprogram your key fob. Some places offer key programming on-site, which can save time and money. However, it's important to keep in mind that these companies will not be able to handle more advanced kinds of smart keys. They might require sending the key fob away for reprogramming.
In most instances, it's not worth the effort and time to make an insurance claim for a stolen or lost car key. The cost of replacing the key fob are likely to be more than your deductible. It will also stay on your record which could lead to more expensive premiums at renewal.
Uninsured/Underinsured Motorist Coverage
If you're a smart owner of a car you are likely to have a spare key set in a safe location. What happens if they are lost or stolen? It's a stressful and costly situation.
Standard auto insurance policies don't cover the loss of keys to your car or theft. They might provide some protection under collision or comprehensive coverage, but this is only if your car was driving at the time of the theft. The things in your vehicle may not be covered. There are policies that cover electronic fobs, however they are rare.
You'll typically need to make an independent claim to your homeowners or renters insurance for the things you want to replace in your vehicle. If you have your policies in a bundle, you can often save yourself some time by filing both claims at the same time.
Even the most secure locking system may fail over time. This is the reason it's essential to keep a spare set keys in your possession and to check for signs of wear and tear on a regular basis.
While it's never ideal to lose your keys, knowing what options are available can help ease the stress. Find insurance companies that offer roadside assistance programs. These will provide you with new keys in the event you lose your keys. Some of these services include free locksmith services and can reprogramme your immobiliser.
While these services are beneficial but they're not an alternative to the full benefits of a collision or comprehensive insurance policy for vehicles that provides stolen car keys coverage. You should speak to a licensed insurance agent if you have any questions about the capability of your provider to provide this type of insurance. They can also help you in choosing the right policy to meet your requirements and budget. Contact us today to get a no-cost quote. We'll help you find the best coverage at affordable rates including insurance for keys to your car stolen.