Are Lost Or Stolen Car Keys Covered by Insurance?
We've all left the keys in the car and it can be a major hassle to get them back. It's also not cheap to replace your keys, especially when you have a high-tech key fob.
Fortunately, comprehensive auto insurance (also called "other than collision coverage") can cover the cost for keys that are stolen or lost. But is it worth the risk?
What is the key replacement coverage in Car Insurance?
The Car Key Replacement Cover is an insurance policy that can be added to a comprehensive auto insurance plan. It assists in reimbursing the costs of replacing or repairing keys, locks, or locksets in the event that they are stolen, lost, misplaced or damaged. This policy is simple to purchase and settle online. It will not affect your eligibility for a no-claim bonus at renewal.
It's important to note that the cost of replacing stolen or lost car keys and your insurance deductible might not be enough to justify the expense. Mechanical keys that are old and worn-out cost less to replace, while high-tech remote car keys are expensive. In such cases, the cost of a key replacement could easily be more than your deductible. Also, if you file a claim to cover the loss of your keys the incident will remain on your claim record, which can lead to higher premiums at the time of renewal.
If you're looking for an insurance policy for your car that is comprehensive that covers key replacement for your car make sure you select a plan that has a low or zero deductible. This will allow you to save money. Compare quotes from different insurance companies to find the best price.
The procedure for claiming key replacement coverage varies from insurer to insurer. In the majority of cases, it's essential to notify your insurance provider of the incident as quickly as you can and provide any documentation that could be required. You'll also have to submit an FIR to the police which is among the most important documents required for a car insurance claim.
While most car insurance policies do not provide key replacement coverage, a few renters and homeowners insurance policies allow you to make a claim under personal property protection insurance. The majority of homeowners and renters insurance policies cover thefts of personal items including keys to your car. The specifics of the coverage can differ from one insurance company to the next therefore, make sure you read the policy terms and condition carefully.
While the majority of motorists are aware of the importance of having a functioning and working car key, they don't realize that even a well-functioning key can be damaged. Keys are susceptible to cracks, scratches and other kinds of damage. This increases the likelihood that they will be lost or broken. Fortunately, the majority of these issues can be addressed with a small amount of regular maintenance and preventive care.
Are keys protected against wear and tear?
Typically, car keys aren't covered under your automobile insurance policy. Instead you can purchase a separate car key replacement cover to get assistance with replacing your lost or stolen keys. This type of cover is contingent on a variety of variables.
The first thing to think about is the cost of the insurance. Replacing your keys may not be as expensive as you might expect. In fact, depending on the type of keys you have such as electronic key fobs or traditional turn-key ignitions it's possible that they will be less expensive than your insurance deductible.
You should also consider the cost of filing claims. Your car insurance policy may require you to pay the deductible prior to any claims being settled. If the total cost of your vehicle key replacement is greater than your deductible, it's unlikely you'll be able to benefit from filing claims.
Another thing to take into consideration is whether your home or renters insurance policy provides any coverage for lost or stolen keys. Generally, personal property insurance that is provided by these policies will cover the theft of your keys, in addition to other items that are taken from the outside or inside your home. It's important to keep in mind that your deductible will still apply and you may end up paying yourself for the stolen keys.
In the end, you should inquire with your dealership to determine if they offer any special key-related coverage as part of the purchase process. Purchasing this coverage at the time of your vehicle purchase can save you money in the event that you require replacing your keys in the future.
Most standard car insurance policies don't include the essential replacement coverage, but some companies offer it as an optional option or as a separate product. The extra cost of this policy will depend on the specific needs you have and the amount of you are able to afford each month to pay for your policy. If you do choose to purchase this coverage be sure to keep the receipts so that you can file a claim in the event your keys are lost or stolen.
Do I need to file an Claim for a Key Replacement?
If you have comprehensive auto insurance, lost keys may be covered under the policy. Additionally, the insurer might offer key replacement coverage as an option for an additional cost. Some insurers have a national network of locksmiths who will replace your keys or reset the immobiliser even if you have not removed the keys from the car. This can be an invaluable service when your keys are lost or you are locked out of your vehicle especially since a lot of cars have electronic ignition systems that need to be programmed in order to allow the engine to start.
You'll also have to contact your insurance company and provide the necessary documents. You'll also need to contact the insurance provider and provide them with the appropriate documents. Some companies will provide cashless settlement when you visit one of their network garages to replace your key. You'll have to ensure that the replacement costs don't exceed your deductible, and that you meet the other requirements established by the insurance company.
In the majority of instances the filing of a claim is not worth it for the loss or theft of a key. It's because the typical car insurance deductible for a brand new vehicle is $1000, whereas keys can cost $200 to $500 each. If you have a spare, it's generally more affordable to purchase the new keys out of pocket. You will also avoid increasing your premiums in the future due to.
It might be worthwhile filing claims in the event that the items stolen from your vehicle are covered by a different type of insurance, for example renters' or homeowners'. This is especially true in the case of a low-deductible and the item is valuable or difficult to replace.
It's not likely, but certain car insurance companies may permit you to add an endorsement to your policy to protect the loss or theft of the car keys. This type of coverage can be added to comprehensive insurance. It's best to discuss your options with your insurance provider before purchasing a vehicle.
Can I make a claim for a key replacement if I have left the keys in the car?
If you leave your keys in the car and they are stolen, the answer to whether or not you can file a claim will depend on the state you live in and the insurer you choose to use. Certain states permit you to purchase key replacement insurance as part of comprehensive or other than collision insurance, but other states do not allow. Additionally, you should be aware that if your keys are stolen while your vehicle is unlocked, with the engine running and the car was parked in a public area, you won't be able to claim the loss through your auto insurance. You may be able make claims under your vehicle or property insurance.
Inputting your keys in the car is considered to be negligence, more info therefore, most insurers will deny the claim. In certain cases, you might be able file an insurance claim through your home insurance or a roadside service plan which provides locksmith services. Some of these plans may contain a specific section regarding keys that have been stolen or lost. A claim for stolen car keys is not worth filing unless there's been an accident that is major or caused damage to the vehicle.
Even if you do making a claim to cover the cost of a stolen or lost key could be risky. For instance, if submit a claim to recover lost keys, and it is determined that the theft was not caused by a covered incident like a car fire or a tornado, your automobile insurance premium could go up.
It's usually more affordable to simply replace your car keys in the event that you lose them than to file a car insurance claim to cover the cost of replacing your vehicle. The replacement of your regular keys is relatively cheap and, in most cases, you'll not have to pay more than the deductible of your policy. However the transponder or smart key can increase the cost of replacement up to $200 or more, especially when you consider costs for labor and hourly charges for programming.