Can You Make a Claim For the Cost of a Car Key Replacement?
If you have comprehensive coverage on your car insurance, you could be able to claim the cost of a new key. It's contingent on the terms and conditions of your policy, however.
Unfortunately, it is not uncommon for insurers to pay theft claims without an exhaustive examination of the keys' forensic data.
Theft
Theft of car keys is a serious problem, as it can cause you to be without a vehicle. You may need to find alternative transportation. Your insurance policy for your vehicle can help you in such a situation. The nature of the incident and the terms and conditions of your policy, will determine whether or not you can file an insurance claim. If you're in a car accident and your keys were in the vehicle, it could not be considered theft as the vehicle was already being used by a different person. In this situation it is recommended to call the police and inform them immediately.
Car thefts resulting from unlocked cars and keys left inside are on the rise, according to the National Insurance Crime Bureau (NICB). These crimes can result in high auto insurance rates, so it is important to understand your insurance coverage and what is covered by your policy.
In general, most automobile insurance policies do not cover the cost of new keys if they are stolen or lost, even when you have a comprehensive insurance. However, some plans do provide roadside assistance, which covers keys replacement up to a specific limit. It is essential to consider the cost of replacing your car keys before making an insurance claim.
Thatcham Research explains that many modern "smart key" systems utilize commercial radiowaves to communicate with sensors or control modules. This is known as controller area networks, also known as CAN. Thieves have discovered a technique to hijack the signal, which allows them to open or start the car from outside it. To accomplish this thieves collaborate 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.
Additionally, personal property within the car is typically covered by renters or homeowners insurance. If the cost of replacing your vehicle's key fob is less than the deductible, and future increases in insurance premiums that could be incurred when filing an insurance claim it could be worth it.
Damage
If a car key is lost and is not replaced promptly the owner could be charged high-priced fees to repair damaged lock mechanisms. These costs can be more than the cost of replacing keys.
If you have comprehensive insurance on your vehicle it may help to cover certain damages. However, this is not always the case. It's important to talk with your agent for auto insurance and carefully read your policy to know what's covered.
The majority of car insurance policies do not provide the coverage of keys that are stolen. The only exception is the case if you have roadside assist coverage. In these cases the insurance company will pay to tow your car to a locksmith who can make a new key. The driver is responsible for the cost of the new key.
Check with your renters or home insurance to see whether your personal property is insured. You may be able file an insurance claim if your key is stolen from your purse or backpack. You'll need to pay a deductible which is typically higher than the cost of replacing the key.
Generally, it's not worth the effort to file an insurance claim to replace missing keys. The cost of replacing a lost key is usually greater than your deductible and many keys are programmed and can be costly.
If you do decide to file an insurance claim, make sure to save all your receipts. If your claim is accepted by your insurance company, you could be reimbursed. However it will depend on the policy you have in place.
Contact your local Hibbs independent agent if there are any questions regarding whether your home or auto insurance will cover lost or stolen keys. We can assist you in finding the best home, auto or renters' insurance to protect your family. And if it's time to review your insurance more info plan we can review quotes and help you pick the best option for your situation.
Replacement
If you lose or have keys to your car stolen, you must be aware of the various options to replace them. The type of car keys you have will determine the insurance policy that will cover its replacement and how much it may cost. You should also think about whether filing a claim on your car insurance will affect your insurance premiums.
You'll need to call your dealer if you own a vehicle with an electronic key. In this scenario the dealer will require evidence of ownership of the car like the title or registration to create an appropriate key for you. It is essential to keep an exact copy in a secure place of your registration and purchase documents.
In some instances, comprehensive insurance will cover the cost of a lost or stolen key. However, you must be willing to pay the deductible, which is likely more than the cost of an entirely new key. If you have an ordinary turn-key ignition it might be easier to get a replacement at an auto parts or locksmith store.
Another option for car owners with lost or stolen keys is to file a claim with 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 kept at home.
You can also call the garage in your area to see if they have the equipment needed to reprogram your vehicle's key fob. Some garages offer key programming on site which can save time and money. However it's important to keep in mind that these businesses will typically not be able to handle more advanced types of smart keys. You might require sending the key fob away to reprogramme it.
In most instances it's not worth the time and effort required to make an insurance claim for a stolen or lost car key. The cost of replacing the key fob is likely be more than your deductible, and it will remain on your record. This could result in higher insurance premiums when renewal time comes around.
Uninsured/Underinsured Motorist Coverage
If you're a responsible car owner, you probably have a spare set of keys somewhere secure. What happens if they are stolen or lost? It's a difficult situation, and getting replacements may be even more expensive.
Standard auto insurance policies don't cover the loss of keys to your car or theft. Some policies may cover key loss or theft under comprehensive and collision coverage. However, this is only applicable when the vehicle was operating at the time. The contents of your vehicle might not be covered. You can find policies that offer additional protection for electronic fobs, such as RFIDs, but these are rare.
Typically, you'll have to file a separate claim with your home or renters insurance policy for the items that are in your vehicle to be replaced. But if you have your policies in a bundle and you're able to save yourself time by filing both claims at once.
It's a good idea to keep in mind that even the most secure locking systems can fail over time. This is the reason it's essential to always keep a spare set keys on hand and to check for signs of wear and tear on a regular basis.
Although it's not ideal to lose your keys, knowing what options are available can ease the burden. Find insurance companies that offer roadside assistance programs. They will give you new keys in the event that your keys are stolen. Some of these services include free locksmith services and can reprogramme your immobiliser.
While these services are beneficial but they're not an alternative to the full benefits of a collision or comprehensive auto insurance policy that offers stolen car keys coverage. If you're unsure whether or not your insurance provider can offer you this kind of insurance it's a good idea to speak with an authorized agent to discuss your options. They can also help you in choosing the right policy to meet your budget and needs. Contact us today for a free quote. We can assist you in shopping for the best insurance for car keys stolen insurance, with competitive rates.