Can You Make a Claim For the Cost of a Car Key Replacement?
If you have comprehensive coverage for your car insurance, you may be eligible to get the purchase of a new key. It's dependent on the terms and conditions of your policy however.
It is not unusual for insurance companies to pay out theft claims without examining the forensic data of the keys.
Theft
The theft of car keys is a serious issue, since it could leave you stranded without an automobile. You may have to find a different transportation option. Fortunately, your auto insurance policy can help in this circumstance. The nature of the incident, along with the terms and conditions contained in your policy, will determine whether or not you can file an insurance claim. If you're involved in a car accident and your keys were inside the vehicle, it could not be considered a theft since the vehicle was already being used by another person. In this case it is best to call the police and notify them immediately.
Car thefts that result from locked cars and keys left inside are on the rise, according to the National Insurance Crime Bureau (NICB). These types of incidents can lead to high auto insurance rates, so it is important to know your coverage and what is covered by your policy.
In general, most auto insurance policies won't pay for the replacement of keys in the event that they are lost or stolen, even when you have a comprehensive insurance. However, certain plans provide roadside assistance that covers key replacement up to a certain limit. For this reason, it is important to carefully consider the value of your car's keys and how much it will cost to replace them prior to 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 referred to as the controller area network, or CAN. The thieves have figured out an opportunity to steal the signal and then unlock or start the vehicle from outside. To do this, thieves typically operate in pairs. One thief is outside with a transmitter device in order to detect the signal, while another tries to steal the key fob itself.
Also, personal property in the vehicle is usually covered by homeowners or renters insurance. If the cost of replacing the key fob is lower than the deductible, and future insurance premiums that could be incurred when filing an insurance claim, it may be worth it.
Damage
If a car key is lost and is not replaced immediately, the owner may be charged expensive fees to repair damaged lock mechanisms. These expenses can even surpass the cost of replacing keys.
If you have a comprehensive insurance policy on your vehicle, it can help cover some damage. However, this is not always the situation. It is essential to speak with your auto insurance agent and study your policy carefully to know what's covered.
Most car insurance policies do not include coverage for keys stolen. Only when you have roadside insurance can you receive coverage for keys stolen. In these instances, the insurance company will be able to tow your vehicle to a locksmith for the creation of a new car key. However the driver is responsible for paying for the new key.
Check with your renters insurance or home insurance to see whether your personal property is insured. If your key is lost in a bag or purse it is possible to claim all the contents of the bag. However, you'll have to pay the cost of deductible, which will likely be higher than the cost of the replacement key.
In general, it's not worth the effort to make an insurance claim to replace missing keys. The cost of replacing a key is usually greater than your deductible. Additionally, many keys are programmed, which can be expensive.
Save all receipts if you decide to file an insurance claim. If your claim is accepted by your insurance company, you could be reimbursed. However, this will depend on your policy.
Contact your local Hibbs independent agent if you have questions about whether or not your auto or home insurance will cover lost or stolen keys. We can assist you in selecting the right insurance for your car, renters' or home insurance to safeguard your loved ones. We can assist you in comparing quotes for your insurance policy, and help you choose the best option for your specific needs.
Replacement
If you've lost or had your car keys stolen, it's important to be aware of the various options to replace keys. The kind of car key you have will determine the insurance policy that will replace it and the amount it will cost. You should also consider the effect of filing an insurance claim through your vehicle insurance on your cost of insurance.
If your car is a newer model that has an electronic key fob you'll probably need to contact the dealer to get a replacement made. In this instance keys stolen the dealer will require proof of ownership such as the title or registration of the vehicle to make a replacement key for you. It is important to keep a copy in a safe place of your registration and purchase papers.
In some instances, comprehensive insurance will cover the cost of the replacement of a stolen or lost key. However, you should be willing to pay the minimum deductible, which will likely be more than the cost of a new key. If you have an ignition that is standard, it may be easier to purchase a replacement from an auto parts or locksmith store.
A car owner who has lost or stolen car key can also file a claim with their home or renters' insurance. This is because personal property coverage on these policies usually covers an amount that is specific to the loss of keys or other belongings that are kept in your home.
You can also call the garage in your area to see whether they have the equipment required to reprogram your car's key fob. Some garages provide on-site key programming, which can save you money and time. It is important to keep in mind that these companies might not be able to manage the more sophisticated 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 lost or stolen key is not worth the effort. The cost of replacing the key fob is likely to be more than your deductible, and it will remain on your record. This could result in higher insurance premiums at renewal.
Uninsured/Underinsured Motorist Coverage
If you're a responsible car owner, then you probably have spare keys somewhere safe. What happens if they are lost or stolen? It's a frustrating and expensive situation.
Standard auto insurance policies do not cover car key loss or theft. They may offer some coverage under comprehensive or collision coverage, but only if your vehicle was being driven at the time of the theft. The things in your vehicle might not be covered. There are policies that include additional coverage for electronic fobs, such as RFIDs however, they are not common.
Typically, you'll have to make a separate claim to your renters or home insurance policy for the items inside your vehicle to be replaced. If you have both policies bundled and you want to save time by filing both claims together.
Even the most secure locking system could fail 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.
Although it's not ideal to lose your keys, understanding what options are available can help ease the stress. Find insurers who offer roadside assistance programs. These will give you new keys in the event that you lose your keys. Some of these insurance companies will also offer locksmith services and reprogramming your immobiliser without charge.
These services can be beneficial, but they don't replace the benefits of a comprehensive car insurance policy. They don't replace stolen car key coverage. It is recommended to speak with a licensed insurance agent should you have any concerns about the capability of your provider to offer this type of coverage. They can also help you in choosing the right policy that meets your budget and needs. Contact us today to get a no-cost quote. We will help you shop for the best coverage, including car key stolen insurance, at competitive rates.