Can You Make a Claim For the Cost of a Car Key Replacement?
If you have comprehensive insurance for your car coverage, you might be able to make claims for the cost of a replacement key. The conditions of the policy will determine whether you can claim for the replacement of a key.
Unfortunately, it is not common for insurers to settle theft claims without doing an exhaustive examination of the keys' forensic data.
Theft
Car key theft is a major problem because it can leave you without a vehicle and in need of a different means of transportation. Fortunately, your car insurance policy could help in this scenario. The nature of the incident, as well as the terms and conditions contained in your policy, will determine whether or not you are able to make an insurance claim. If you're in a car accident and your keys were in the vehicle, it might not be considered theft because the car was already occupied by a different person. In this situation it is advisable to notify the police right away.
According to the National Insurance Crime Bureau, car thefts are on the increase because of unlocked vehicles and keys left in vehicles. These incidents can result in higher insurance premiums for auto insurance therefore it is important to know what your policy covers.
In general, car insurance policies will not pay for the replacement of keys that are lost or stolen even if you have comprehensive coverage. Some plans include roadside assistance that covers key replacements up to a certain amount. For this reason, it is essential to take a close look at the importance of your car's keys and how much it might cost to replace them before filing 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 referred to as the controller area network, or CAN. Thieves have discovered a technique to sabotage the signal which allows them to open or start the car from outside it. For this thieves, they collaborate in pairs. One thief stands outside with a transmitter device to pick up the signal, while another tries to steal the key fob.
It's also important to note that personal property that's inside the vehicle is typically covered by homeowner or renters insurance. It could be worthwhile to replace the 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 filing claims.
Damage
If a lost car key 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 the keys.
Insurance may help to cover a portion of the damage if you have comprehensive insurance on your vehicle. However, this is not always the case. To be aware of your policy, it's important to speak with your agent and take the time to read it thoroughly.
Most car insurance policies do not cover keys that are stolen. Only if you have roadside coverage will you be able to get insurance for keys that are stolen. In these instances the insurance company will be able for towing your vehicle to a locksmith for the creation of a new car key. The driver is responsible for the cost of the new key.
Check with your renters or home insurance company to see if personal property is covered. You may be able to file a claim if your key is stolen from your purse or backpack. However, you'll have to pay your cost of deductible, which will likely be more than the cost of a replacement key.
In general, making an insurance claim isn't worth the hassle. The replacement costs are usually less than your deductible, and a lot of newer keys require programming that could be costly.
If you decide to file an insurance claim ensure that you keep all receipts. The insurance company may reimburse you if your claim is approved, however it will depend on the specifics of your policy.
If you're unsure whether your home or car insurance covers lost or stolen keys, you can contact your local Hibbs independent insurance agent. We can help you find the best auto, home, or renters' insurance policy to protect your family. We can help you compare quotes for your insurance policy and select the best policy for your situation.
Replacement
It's important to consider your options in case you lose or have lost your car keys. The kind of key you own can determine what kind of insurance policy will pay to replace it, and what the process may cost. You should also think about the impact of submitting an insurance claim through your vehicle insurance on your premiums.
If your car is a newer model that has an electronic key fob, you'll probably need to visit the dealer to have an alternative key made. In this case the dealer will require evidence of ownership of the vehicle like the title or registration to create the new key for you. It is essential to keep copies in a secure location of your registration and purchase papers.
In certain situations, comprehensive coverage may be able to cover the cost of a stolen or lost car key. However, you must be prepared to pay for the minimum deductible, which will likely be more than the cost of a new key. If you own an ignition with the standard turn key it might be simpler to get the new 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 through their home or renters insurance. This is because personal property coverage on these policies usually includes a specific amount for 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 places offer on-site key programming that can save you money as well as time. However it is important to keep in mind that these companies will not be capable of handling more sophisticated kinds of smart keys. They may require sending the key fob to another location for reprogramming.
In the majority of cases, filing an insurance claim to replace a lost or stolen key isn't worth the effort. The cost of replacing the key fob are likely to exceed your deductible and it will stay on your record, possibly leading to more expensive premiums at renewal.
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 costly and frustrating situation.
Standard auto insurance policies do not cover the loss of keys to your car or theft. They might provide some protection under collision or comprehensive coverage, but that's only if your car was in use at the time of the theft. The things in your vehicle might not be covered as well. There are policies that provide additional coverage for things like electronic fobs however these are very rare.
It is typical to file an independent claim with your homeowners or renters insurance for the items that you wish to replace in your vehicle. If you have both policies bundled and you want to get more info reduce time by filing the claims together.
It's a good idea to keep in mind that even the most secure locking systems may fail in time. This is why it's important to always keep a spare set of keys on hand and to look for signs of wear and tear regularly.
Knowing your options can aid in reducing stress. Find insurers who offer roadside assistance plans. They will provide you with new keys in the event that your keys are stolen. Some of these services include locksmith services that are free and will reprogramme your immobiliser.
These services can be beneficial however they aren't able to replace the benefits of a comprehensive car insurance policy. They don't replace stolen car key insurance. If you're uncertain whether or not your insurance company can provide you this kind of insurance, it's a good idea to talk to an agent licensed to discuss your options. They can also assist you to select the best policy that meets your needs and budget. Contact us today to get a no-cost quote. We'll help you find the best coverage at affordable rates and include insurance for keys stolen from your car.