Can You Make a Claim For the Cost of a Car Key Replacement?
If you have a comprehensive coverage for your automobile insurance, you might be able to get the purchase of a new key. The conditions of the policy will determine whether you are eligible to claim an additional key.
It is not uncommon for insurance companies to pay out theft claims without checking the forensic details of the keys.
Theft
Car key theft is a significant issue because it could leave you without a vehicle and needing alternative transportation. Your auto insurance policy can help you in this situation. The nature of the incident along with the terms and conditions in your policy, will determine if you can file an insurance claim. For instance, if are involved in an accident and your keys are in the interior of the vehicle at the time of the accident the incident, it might not be considered a theft because the vehicle is used by another. In this case it is recommended to notify the police right away.
Car thefts that result from locked cars and keys left inside are increasing, according to the National Insurance Crime Bureau (NICB). These incidents can result in higher insurance premiums for auto insurance and it's crucial to know what your policy covers.
Most automobile insurance policies do not cover the cost of replacement keys in the event they get lost or damaged even if comprehensive coverage is included. However, certain plans offer roadside assistance coverage that includes keys replacement up to a certain limit. For this reason, it is important to carefully consider the worth of your car's key and how much it might cost to replace them before making an insurance claim.
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 criminals have found 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 to pick up the signal, while another tries to steal the key fob itself.
Also, personal property inside a car is usually covered by renters or homeowners insurance. If the cost of replacing the key fob is less than the deductible and future insurance premium increases that might be associated with filing an insurance claim, it might be worth it.
Damage
If a car key is lost and not replaced immediately the owner could be faced with expensive fees to repair damaged locks. These costs could even be higher than the cost of replacing keys.
Insurance may help to cover a portion of the damages if you have comprehensive coverage on your vehicle. This is not always true. It is essential to speak with your agent for auto insurance and carefully read your policy to know what's covered.
Most insurance policies for cars do not cover keys that are stolen. The only exception is if you have roadside assistance coverage. In this case the insurance company will cover to tow your car to a locksmith to create a new car key. The driver is accountable for the cost of the new key.
You may also contact your renters' or home owners' insurance provider to see whether they offer personal property protection. You may be able file an insurance claim if the key is lost inside your purse or backpack. You will have to pay a deductible which is typically higher than the cost of replacing a key.
It's generally not worth the hassle to submit an insurance claim for lost keys. The cost of replacing a key is typically higher than your deductible. Additionally, many keys are programmed and can be costly.
Save all receipts if you decide to file an insurance claim. If your claim is accepted by your insurance company, you may be reimbursed. However it will depend on your policy.
Contact your local Hibbs independent agent if you have questions about whether or not your insurance for your home or automobile will cover lost or stolen keys. We can assist you in choosing the right renters', auto, or home insurance to protect your loved ones. We can help you compare quotes for your insurance policy and select the most appropriate option for your situation.
Replacement
If you've lost or had keys to your car lost, it's crucial to take a close look at the different options for replacing them. The type of key you have will determine which insurance policy will be required to replace it and how much the process may cost. You should also consider the impact of filing a claim with your vehicle insurance on your costs.
If your car is a more recent model with an electronic key fob you'll likely need to go through the dealer to get an alternative key made. In this instance the dealer will require evidence of ownership, such as the title or registration of the vehicle to create the replacement key for you. This is why it's crucial to keep the original registration and the purchase of your car in a safe place.
In some instances, comprehensive insurance will cover the cost of keys that are stolen or lost. However, you must be willing to pay the cost of the deductible, which is usually more than the cost of the new key. If you have an ignition with a standard turn key, it might be easier for you to buy the new one from the local locksmith shop or auto parts store.
A car owner who has lost or stolen car key can also file a claim through their renters' or home insurance. This is because personal property coverage in these policies typically includes an amount that is specific to the loss of keys, or other items that are kept in your home.
You can also contact your local garage to inquire if they have all the necessary equipment to reprogram your key fob. Some garages offer on-site key programming, which could save you money and time. It's important to remember that these companies may not be able handle the more sophisticated smart keys and you might have to send your key fob to a third party for reprogramming.
In the majority of cases, filing an insurance claim to replace a lost or stolen key is not worth the effort. The cost of replacing the key fob will likely be more than 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 savvy car owner, then you probably have spare keys in a safe place. What happens if they're lost or stolen? It's a costly and frustrating situation.
Unfortunately, standard auto insurance policies don't usually cover key loss or theft. They may provide some coverage under collision or comprehensive coverage, but that's only if your vehicle was in use at the time of the theft. It's not a guarantee that the items inside your car are covered. There are policies that cover electronic fobs, however they are not common.
You'll typically need to make an independent claim to your homeowners or renters insurance for the items that you want to replace in your vehicle. But 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 could fail over time. It's important to keep an extra key in check here your possession, and to check for wear and tear often.
Knowing your options can aid in reducing stress. Find insurers who offer roadside assistance programs. They'll provide you with new keys in the event yours is stolen. Some of these insurance companies will also offer locksmith services and reprogramming your immobiliser without charge.
Although these services are convenient, they aren't an alternative to the full benefit of a comprehensive or collision insurance policy for vehicles that provides the protection of stolen car keys. If you're uncertain whether or not your insurance provider can offer you this type of coverage it's recommended to speak with an authorized agent to discuss your options. They can also assist you in choosing the appropriate policy to meet your needs and budget. Contact us today to get a no-cost quote. We can help you find the best coverage for you at competitive rates including insurance for keys to your car stolen.