Can You Make a Claim For the Cost of a Car Key Replacement?
If you have comprehensive insurance for your car coverage, you might be able to file an claim for the cost of replacing a key. It will depend on the terms and conditions of your policy however.
It is not unusual for insurance companies to pay theft claims without examining the forensic information of the keys.
Theft
Car key theft is a major problem because it can cause you to be without a car and in need of alternative transportation. Fortunately, your auto insurance policy may help you in this circumstance. The decision to submit an insurance claim is contingent on the nature of the incident and the specific terms and conditions listed in your policy. If you're in a car accident and your keys were within the vehicle, it might not be considered theft as the vehicle was occupied by another person. In this scenario it is recommended to call the police immediately.
Car thefts due to unlocked cars and keys left inside are increasing according to the National Insurance Crime Bureau (NICB). These incidents can result in the cost of insurance for automobiles to be high therefore it is important to be aware of the coverages your policy provides.
Most car insurance policies don't cover the cost of replacement keys in the event that they are lost or damaged even if comprehensive coverage is provided. Some plans include roadside assistance, which includes key replacements up to a limit. For this reason, it is crucial to consider the value of your car's keys and how much it will cost to replace them before making a claim.
Thatcham Research explains that many modern "smart key" systems use commercial radiowaves to communicate with sensors or control modules. This system is known as controller area networks, also known as CAN. The thieves have figured out a way to hijack the signal and unlock or start the car from outside. For this thieves, they work in pairs. One thief is outside with a transmitter device in order to receive the signal while another tries to take the key fob.
It's also important to note that personal property contained within the vehicle is typically covered by renters or homeowner insurance. If the cost of replacing your car's key fob is less than the deductible and future insurance premiums that could be associated with filing an insurance claim it could be worth it.
Damage
If a lost car key is not replaced immediately the owner could be charged a high price to repair damaged lock mechanisms. These costs could even exceed the cost of replacing keys.
Insurance can cover a portion of the damage if you have comprehensive insurance on your vehicle. However, this isn't always the case. It is important to speak with your insurance representative and read your policy closely to know what's covered.
The majority of car insurance policies do not provide the coverage of keys that are stolen. The only exception is the case if you have roadside assist coverage. In these situations the insurance company will help towing your vehicle to a locksmith who can make the new key. The driver is responsible for the cost of the new key.
Contact your renters or home insurance provider to determine whether your personal property is insured. If your key is lost in a purse or backpack you might be able to file a claim for everything in the bag. However, you'll need to pay your insurance deductible, which is usually higher than the cost of a replacement key.
Generally, it's not worth the hassle to submit an insurance claim for missing keys. The replacement costs are usually less than your deductible, and most newer keys require programming that can be very expensive.
Save all receipts if you decide to submit an insurance claim. Your insurance company can reimburse you if your claim is approved, however this will be contingent on the specifics of your policy.
Contact your local Hibbs independent agent if you have concerns about whether your home or auto insurance will cover stolen or lost keys. We can help you find the best auto, home, or renters' insurance to protect your family. We can help you compare quotes for your insurance policy and select the best option for your situation.
Replacement
It is crucial to think about your options in the event that you've lost or had your car keys stolen. The type of car key you have will determine the insurance policy that will provide for its replacement and the amount it will cost. You should also consider whether filing a claim with your vehicle insurance will impact your insurance premiums.
You'll need to call your dealer if you own an electronic key. In this case, the dealership will need evidence of ownership of the car such as the registration or title to make a new key for you. This is why it's crucial to keep a copy of your registration and car purchase documents in car stolen lost spare key a secure place.
In some instances, comprehensive insurance will cover the cost of a lost or stolen key. You'll need to pay a deductible which is usually more than the cost of an alternative key. If you have an ignition that is standard, it may be easier to find a replacement at a locksmith or auto parts store.
Another alternative for car owners who have a stolen or lost key is to file a claim through their renters or homeowners insurance. Personal property insurance is typically included in these policies and includes the amount needed to protect against the loss of keys or other items that are kept at home.
You can also call your local garage to inquire if they have all the equipment needed to reprogram your key fob. Some places offer on-site key programming that can save you money as well as time. It's important to remember that these companies might not be able to manage more advanced smart keys, and you may have to send your key fob to a third party for reprogramming.
In the majority of cases, submitting an insurance claim to replace a stolen or lost key isn't worth the effort. The cost of replacing the key fob is likely be higher than the deductible, and it will remain on your record. This could lead to higher insurance premiums at renewal.
Uninsured/Underinsured Motorist Coverage
If you're a responsible owner of a vehicle and you have a spare key set in a safe location. What happens if they are stolen or lost? It's a stressful situation, and getting replacements could be even more expensive.
Unfortunately, standard auto insurance policies don't usually cover key loss or theft. They might provide some protection under comprehensive or collision coverage, but this is only if your vehicle was being driven at the time of the theft. It's also not guaranteed that the belongings in your vehicle are covered. There are policies that include additional coverage for things like electronic fobs however, they are not common.
Typically, you'll have to file a separate claim under your home or renters insurance policy for the items in your vehicle to be replaced. If you have both policies combined, you can save time by filing the claims together.
Even the most secure locking system could fail over time. It is essential to have an extra key on hand and to examine for wear and tear frequently.
Although it's not ideal to lose your keys, understanding what your options are can help ease the stress. Find insurance companies that offer roadside assistance plans. These will give you new keys in the event yours is stolen. Some of these services will also offer locksmith services and the reprogramming of your immobiliser at no cost.
These services can be beneficial however they aren't able to substitute the benefits of a comprehensive auto insurance policy that includes stolen vehicle key insurance. You should speak to a licensed insurance agent If you have any doubts about the capability of your provider to provide this kind of protection. They can also assist you to select the best policy that meets your budget and needs. Contact us today for no-cost quotes. We can help you shop for the best coverage including car key theft insurance, at competitive rates.