Can You Make a Claim For the Cost of a Car Key Replacement?
If you have comprehensive insurance for your car coverage, you may be able to file an claim for the cost of replacing a key. The conditions of the policy will determine whether you can claim for the replacement of a key.
It is common for insurers to settle theft claims without conducting an exhaustive check of the keys' forensic information.
Theft
Theft of car keys is a serious issue, since it could leave you without the vehicle you need. You may have to find alternative transportation. Fortunately, your insurance policy may help you in this scenario. The nature of the incident, and the terms and conditions contained in your policy will determine if you can file an insurance claim. If you are in a car crash and your keys were inside the vehicle, it could not be considered a theft since the vehicle was occupied by a different person. In this case it is recommended to call the police immediately.
Car thefts due to unlocked cars and keys that are left inside are increasing according to the National Insurance Crime Bureau (NICB). These incidents can lead to high auto insurance premiums, so it's important to be aware of the coverages your policy provides.
In general, auto insurance policies won't cover your costs for new keys if they are stolen or lost even when you have a comprehensive insurance. Certain plans offer roadside assistance that includes keys replacement up to a certain amount. It is crucial to consider the worth of your car's key and the amount it would cost to replace them before filing claims.
A lot of modern "smart" key systems make use of commercial radio waves to communicate with sensors and control modules, explains Thatcham Research. This system is called the controller area network, or CAN. The thieves have figured out how to sabotage the signal and unlock or start the vehicle from outside. For this, thieves operate in pairs. One thief stands outside with a transmitter device to pick up the signal, while another tries to take the key fob.
Additionally, personal property within a car is usually covered by homeowners or renters insurance. If the cost of replacing your vehicle's key fob is lower than the deductible, and future insurance premium increases that might be associated with making an insurance claim, it might be worth it.
Damage
If a car key is lost and is not replaced as quickly as it should the owner could be charged high-priced fees to repair damaged lock mechanisms. These costs can be more than the cost of replacing keys.
Insurance can cover a portion of the damages if you have comprehensive insurance on your vehicle. However, this is not always the case. To be aware of the policy, it's crucial to talk to your agent and to read it carefully.
Most car insurance policies do not cover keys that are stolen. Only when you have roadside insurance can you receive coverage for keys that are stolen. In these cases the insurance company will cover to tow your vehicle to a locksmith to create the new car keys. However the driver is responsible for paying for the new key.
Check with your renters insurance or home insurance company to see if personal property is covered. If your key is lost in a bag or purse you might be able to claim all the contents of the bag. However, you'll have to pay a cost of deductible, which will likely be higher than the cost of the replacement key.
In general making an insurance claim is not worth the effort. The replacement costs are rarely less than your deductible, and many modern keys require programming, which can be expensive.
Save all receipts if you decide to make an insurance claim. Your insurance company can pay you back if your claim is approved, but this will depend on the terms of your specific policy.
If you are unsure whether your home or vehicle insurance covers stolen or lost keys, you can contact your local Hibbs independent insurance website agent. We can assist you in finding the best home, auto, or renters' insurance to safeguard your family. We can assist you in comparing quotes for your insurance policy and choose the best option for your specific needs.
Replacement
If you've lost or have keys to your car stolen, it's important to be aware of the various options available to replace them. The kind of car key you have will determine the insurance policy that will cover its replacement and how much it may cost. It is also important to consider the effect of filing a claim with your vehicle insurance on your cost of insurance.
You'll need to contact your dealer if you own an electronic key. In this scenario, the dealership will need evidence of ownership of the car like the title or registration to create a new key for you. It is essential to keep an exact copy in a secure location of your registration and purchase papers.
In some instances, comprehensive insurance will cover the cost for the replacement of a stolen or lost key. You'll need to pay a deductible that is typically higher than the cost of an alternative key. If you own an ignition with the standard turn key it could be easier to purchase a new one at the local locksmith shop or auto parts shop.
A car owner who has a lost or stolen key can also file a claim through their renters' or home insurance. Personal property coverage is usually included in these policies and includes the amount needed to ensure the replacement of keys or other items that are kept at 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 places offer key programming on site and can save you time and money. However, it's important to keep in mind that these companies typically will not be able to handle more advanced types of smart keys. You may need to send the key fob off for reprogramming.
In the majority of cases, submitting an insurance claim to replace a stolen or lost key is not worth the effort. The cost of replacing the key fob could exceed your deductible and it will stay on your record, possibly leading to more expensive premiums at renewal.
Uninsured/Underinsured Motorist Coverage
If you're a responsible car owner, then you probably have spare keys somewhere secure. What happens if they get lost or stolen? It's a costly and frustrating situation.
Unfortunately, standard auto insurance policies don't typically cover key theft or loss. Certain policies might cover car key theft or loss under collision and comprehensive coverage. However this only applies to cars that were in use at the time. The items in your car may not be covered as well. You can find policies that include additional coverage for electronic fobs, such as RFIDs, but these are rare.
It is typical to file an independent claim with your homeowners or renters insurance for the items that you want to replace in your vehicle. If you have both policies combined and you want to save time by filing both claims together.
Even the most secure locking system may fail over time. This is why it's crucial to always keep a spare set of keys in your possession and to check for signs of wear and tear on a regular basis.
While it's never a good idea to lose your keys, knowing what options are available can ease the burden. Find insurance companies that offer roadside assistance plans. They will provide you with new keys in the event that your keys are stolen. Some of these services include locksmith services that are free and will reprogram your immobiliser.
These services might be useful however they aren't able to take away the benefits of a comprehensive auto insurance policy that includes stolen vehicle key insurance. If you're unsure whether your insurance company can provide you this type of protection It's best to speak with an agent licensed to discuss your options. They can also assist you to pick the right policy for your requirements and budget. Contact us today for a free quote. We can help you shop for the best insurance coverage for car keys stolen insurance at affordable rates.