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 a new key. The conditions and terms of the policy will determine whether you are eligible to claim an additional key.
It is not unusual for insurance companies to pay out theft claims without checking the forensic details of the keys.
Theft
The theft of car keys is a serious issue, since it could cause you to be without an automobile. You may need to find alternative transportation. Your auto insurance policy can help you in this situation. If you decide to submit an insurance claim is contingent on the nature of the incident and the specific terms and conditions that are listed in your policy. If you're involved in a car accident and your keys were inside the vehicle, it might not be considered theft as the vehicle was already being used by a different person. In this situation it is best to call the police and notify them immediately.
According to the National Insurance Crime Bureau, car thefts are on the increase because of unlocked vehicles and keys left in the vehicle. These incidents can result in high auto insurance premiums, so it's important to know what your policy covers.
Most car 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 provide roadside assistance, which covers keys replacement up to a specific limit. This is why it is essential to take a close look at the value of your car's keys and the amount it would cost to replace them prior to filing an insurance claim.
Thatcham Research explains that many modern "smart key" systems use commercial radiowaves to connect with sensors or control modules. This system is called the controller area network or CAN. The criminals have found an opportunity to steal the signal and unlock or start the vehicle from outside. For this, thieves work in pairs. One thief makes use of an electronic transmitter to detect the signal while the other attempts to take the key fob.
It's also important to remember that personal property inside a vehicle is generally covered by renters or homeowner insurance. It may be worth it to replace the remote key fob when the cost is less than the deductible or future insurance premium increases associated with making claims.
Damage
If a car key is lost and not replaced immediately, the owner can face expensive fees to repair damaged locks. These costs can even exceed the cost of replacing keys.
If you have comprehensive insurance on your vehicle it could help pay for some damages. However, this is not always the situation. To be aware of your policy, it's essential to speak with your agent and read it carefully.
Most car insurance policies exclude the coverage of keys that are stolen. The only exception is if you have roadside assistance coverage. In these instances the insurance company could pay to tow your car to a locksmith who will create an entirely new key. However the driver is responsible for paying for the new key.
Check with your renters insurance or home insurance to see if personal property is covered. If you lose your key in a backpack or purse, you may be able to claim all of the contents in the bag. You will have to pay a deductible, which is typically higher than the cost of replacing a key.
In general filing an insurance claim is not worth the effort. The cost of replacing a key is usually higher than your deductible, and a lot of keys are programmed and can be costly.
Save all receipts if you decide to submit an insurance claim. If your claim is approved by your insurance company, you may be reimbursed. However it will depend on the policy you have in place.
If you have questions about whether your home or car insurance covers stolen or lost keys, you can contact your local Hibbs independent insurance agent. We can assist you in choosing the appropriate renters', auto, or home insurance to safeguard your loved ones. And if it's time to review your insurance policy we can review quotes and help you choose the best option for your situation.
Replacement
It's important to consider your options in the event that you lose or have had your car keys stolen. The kind of key you own will determine which insurance policy will pay to replace read more it, and what it will cost. It is also important to consider the effect of filing an insurance claim through your vehicle insurance on your costs.
If your car is a more recent model that has an electronic key fob, you'll likely need to visit the dealer to get a replacement made. In this instance the dealer will require proof of ownership like the title or registration of the vehicle to make an appropriate replacement key for you. It is important to keep an exact copy in a secure location of your car registration and purchase papers.
In some instances the comprehensive insurance may pay for the cost of a lost or stolen car key. However, you should be prepared to pay for the deductible, which is likely higher than the cost of an entirely new key. If you have an ignition with a standard turn key, it might be easier for you to get an additional one from a local locksmith or auto parts shop.
Another alternative for car owners with lost or stolen keys is to file a claim with their renters or homeowners insurance. This is because personal property coverage in these policies usually covers a certain amount for the loss of keys, or other items that are kept in your home.
You can also call your local garage and ask whether they have the equipment needed to reprogram your key fob. Some garages offer on-site key programming services, which can save you money as well as time. It's important to remember that these businesses may not be able to manage advanced smart keys, and you may need to send your key fob to a third-party for reprogramming.
In most cases it's not worth the effort and time to submit an insurance claim for a stolen or lost car key. The cost of replacing the key fob is likely exceed your deductible. It will remain on your record. This could result in increased insurance premiums when renewing.
Uninsured/Underinsured Motorist Coverage
If you are a smart owner of a car, you probably have a spare set of keys in a secure location. What happens if they get lost or stolen? It's a frustrating and expensive situation.
Unfortunately, standard auto insurance policies don't usually cover car key loss or theft. They might provide some protection under collision or comprehensive coverage, but that's only available if your car was driving at the time of the theft. The items in your vehicle may not be covered. There are policies that cover electronic fobs, but they are extremely rare.
You'll typically need to make an independent claim to your renters or homeowners insurance for the items that you'd like to replace in your vehicle. If you have both policies that are bundled, you can save time by filing the claims together.
Even the most secure locking system could fail over time. It is essential to have a spare key set on hand and to look for wear and tear often.
Understanding your options can aid in reducing stress. Find insurance companies that provide roadside assistance plans. They will provide you with new keys in the event that yours is stolen. Some of these plans include free locksmith services and can reprogram your immobiliser.
Although these services are convenient however, they're not an alternative to the full benefits of a comprehensive or collision insurance policy for vehicles that provides keys stolen from cars coverage. It is recommended to speak with an insurance professional licensed to do so if you have any questions about your provider's ability to provide this type of insurance. They can also help you in choosing the right policy to meet your requirements and budget. Contact us today for a free quote. We can assist you in finding the best coverage for you at competitive rates, including insurance for keys stolen from your car.