Can You Make a Claim For the Cost of a Car Key Replacement?
If you have comprehensive car insurance coverage, you might be able to file an claim for the cost of replacing a key. The conditions and terms of the policy will determine whether you can claim for an additional key.
It is not unusual for insurance companies to pay out theft claims without checking the forensic details of the keys.
Theft
Car key theft is a major problem because it can cause you to be without a car and in need of alternative transportation. Fortunately, your auto insurance policy may help you in this circumstance. The decision to submit an insurance claim is contingent on the nature of the incident as well as the specific terms and conditions specified in your policy. For instance, if you are in an accident and your keys are in the interior of the vehicle at the time of the accident it is not considered a theft because the car is already being occupied by someone else. In this scenario, it is best to contact the police immediately.
Car thefts that result from locked cars and keys left inside are on the rise according to the National Insurance Crime Bureau (NICB). These incidents can lead to higher insurance premiums for auto insurance therefore it is important to be aware of the coverages your policy provides.
In general, auto insurance policies won't cover your costs for new keys that are lost or stolen even if you have comprehensive coverage. However, some plans do offer roadside assistance coverage that includes keys replacement up to a certain limit. 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 making an insurance claim.
Thatcham Research explains that many modern "smart key" systems utilize commercial radiowaves to communicate with sensors or control modules. This system is known as the controller area network or CAN. Thieves have discovered a method to steal the signal which allows them to open or start cars from outside of it. For this thieves work in pairs. One thief stands in the street with a transmitter device in order to receive the signal while another tries to steal the key fob itself.
Also, personal property inside a car is usually covered by homeowners or renters insurance. It might be worthwhile to replace your car's remote key fob in the event that the cost is lower than the deductible, or if you anticipate future insurance premiums will increase due to making an insurance claim.
Damage
If a lost car keys is not replaced promptly the owner could be charged a high price to repair damaged lock mechanisms. These expenses can even surpass the cost of replacing keys.
If you have insurance coverage that is comprehensive on your car it could help pay for certain damages. However, this isn't always the case. It is important to speak with your insurance representative and carefully read your policy to be aware of what is covered.
Most insurance policies for cars do not include coverage for stolen keys. The only exception is if you have roadside assistance coverage. In these cases, the insurance company will pay to tow your vehicle to a locksmith for the creation of an entirely new car key. However, the driver is still responsible for paying for the new key.
Contact your renters or home insurance provider to determine if personal property is covered. You may be able to file an insurance claim if the key is lost in a backpack or purse. You will have to pay a deductible that is usually more than the cost of replacing the key.
In general, making an insurance claim is not worth the effort. The cost of replacing the key is typically higher than your deductible, and a lot of keys are programmed and can be costly.
If you decide to file an insurance claim, make sure to keep all receipts. If your claim is approved by your insurance company, you could be reimbursed. However, this will depend on your policy.
Contact your local Hibbs independent agent if there are any questions regarding whether your auto or home insurance will cover lost or stolen keys. We can help you find the right auto, home or renters' insurance policy to protect your family. If it's time to review your insurance plan, we can compare quotes and help you pick the most appropriate option for your situation.
Replacement
It's important to consider your options in case you lose or have lost your car keys. The type of key you have will determine which insurance policy will pay to replace it and how much the process may cost. It is also important to consider the effect of filing claims with your car insurance on your cost of insurance.
If your car is a newer model with an electronic key fob, you'll probably need to contact the dealer to get a replacement made. In this instance the dealer will require proof of ownership get more info such as the title or registration of the vehicle to create an appropriate replacement key for you. It's important that you keep copies in a secure location of your car registration and purchase papers.
In certain situations the comprehensive insurance may pay for the cost of a stolen or lost car key. However, you must be prepared to pay the deductible, which is likely higher than the cost of the new key. If you own an ignition with a standard turn key, it could be easier for you to purchase an additional one from the local locksmith shop or auto parts store.
Another option for car owners who have a stolen or lost key is to file a claim with their home or renters insurance. Personal property coverage is usually included in these policies and includes an amount that will cover the loss of keys, or other items that are kept at home.
You could also contact the garage in your area to see if they have the equipment necessary to reprogram your car's key fob. Some locations offer key programming on-site, which can save time and money. However it's important to keep in mind that these companies typically will not be equipped to handle more sophisticated types of smart keys. You might require sending the key fob to another location to be reprogrammed.
In most cases it's not worth the effort and time to file an insurance claim for a lost or stolen car key. The cost of replacing the key fob is likely to exceed your deductible, and it will remain on your record. This could result in higher insurance premiums at renewal.
Uninsured/Underinsured Motorist Coverage
If you're a savvy car owner, you probably have spare keys in a safe place. What happens if they get lost or stolen? It's a stressful and costly situation.
Unfortunately the standard auto insurance policies do not typically cover key theft or loss. Some policies may cover key loss or theft under collision and comprehensive coverage. However, this is only applicable to cars that were in use at the time. The contents of your car may not be covered as well. There are policies that cover electronic fobs, but they are extremely rare.
It is typical to make an independent claim to your homeowners or renters insurance for the items that you wish to replace in your vehicle. If you have both policies that are bundled together, you'll reduce time by filing the claims together.
It's important to keep in mind that even the most secure locking systems could break down in time. This is why it's important to always keep a spare set of keys in your possession and to be aware of wear and tear regularly.
Knowing your options can ease the burden. You can find insurers that provide roadside assistance plans which will give you keys to replace if yours is ever stolen. Some of these plans include locksmith services that are free and will reset your immobiliser.
While these services are convenient however, 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 have questions about whether or not your insurance provider offers you this type of protection It's recommended to speak with an agent licensed to discuss your options. They can also help you in selecting the best policy to suit your requirements and budget. Contact us today for a free quote. We will help you shop for the best coverage for car keys stolen insurance, with competitive rates.