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 eligible to claim the cost of the purchase of a new key. The terms and conditions of the policy will determine if you can claim for an additional key.

It is not uncommon for insurance companies to pay out theft claims without scrutinizing the forensic information of the keys.

Theft

Car key theft is a major issue because it could result in you not having a car and in need of a different means of transportation. Your insurance policy for your vehicle can help you in this situation. The nature of the incident along with the terms and conditions in your policy will determine if you make an insurance claim. For instance, if you are involved in an accident and your keys are in the interior of the vehicle at the time of the accident the incident, it might not be considered a crime since the vehicle is used by someone else. In this scenario it is advisable to notify the police right away.

According to the National Insurance Crime Bureau, car thefts are on the rise due to unlocked vehicles and keys left in the vehicle. These types of incidents can lead to high auto insurance rates, so it is important to understand your insurance coverage and what is covered by your policy.

In general, automobile insurance policies do not pay for the replacement of keys in the event that they are lost or stolen, even in the event that you have a comprehensive coverage. However, some plans do provide roadside assistance, which includes keys replacement up to a certain limit. For this reason, it is important to carefully consider the importance of your car's keys and how much it might cost to replace them prior to filing a claim.

Thatcham Research explains that many modern "smart key" systems use commercial radiowaves to communicate with sensors or control modules. This system is known as controller area networks, or CAN. Thieves have discovered a technique to steal the signal which allows them to open or start the car from outside it. To do this, thieves usually operate in pairs. One thief stands outside with a transmitter device to detect the signal, while another tries to steal the key fob.

It's also important to note that personal property inside the vehicle is usually covered by homeowner or renters insurance. If the cost of replacing the key fob is less than the deductible, and future increases in insurance premiums that could be incurred by making an insurance claim, it might be worth it.

Damage

If a lost car keys is not replaced promptly the owner could be charged a high price to repair damaged lock mechanisms. These costs can be more than the cost of replacing keys.

If you have comprehensive insurance on your car it could help pay for some damages. However, this isn't always the case. It is essential to speak with your agent for auto insurance and read your policy closely to understand what is covered.

Most car insurance policies do not include coverage for keys that are stolen. Only if you have roadside protection will you be able to get insurance for keys stolen. In these situations the insurance company could offer to tow your vehicle to a locksmith who can create an entirely new key. However the driver is accountable for the new key.

Check with your renters insurance or home insurance company to see whether personal property is covered. You may be able file a claim if your key is lost inside your purse or backpack. You will have to pay a deductible which 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. Additionally, many keys are programmed, which can be expensive.

Save all receipts if you decide to file an insurance claim. If your claim is accepted by your insurance company, you may be reimbursed. However, this will depend on the policy you have in place.

If you're unsure whether your home or vehicle insurance covers stolen or lost keys, call your local Hibbs independent insurance agent. We can assist you in finding the right auto, home, or renters' insurance to protect your family. We can help you compare quotes for your insurance policy and choose the most appropriate option for your situation.

Replacement

It is important to think about your options in the event that you lose or have lost your car keys. The kind of key you own will determine what insurance policy will pay to replace it and how much the process may cost. You should also think about the impact of submitting an insurance claim through your vehicle insurance on your costs.

You'll need to call your dealer if you own an electronic key. In this instance the dealer will require proof of ownership like the title or registration of the vehicle to create the replacement key for you. It is essential to keep an exact copy in a secure place of your registration and purchase papers.

In some cases comprehensive coverage will cover the cost of a lost or stolen key. However, you should be willing to pay the cost of the deductible, which is usually more than the cost of a new key. If you have an ignition that is standard, it is possible to get a replacement at an auto parts or locksmith store.

A car owner who has a lost or stolen key can also file a claim with their home or renters' insurance. Personal property insurance is typically included in these policies and includes the amount needed to protect against the loss of keys, or other items kept at home.

You can also try calling the garage in your area to see whether they have the equipment needed to reprogram your vehicle's key fob. Some places offer on-site key programming, which can save you money as well as time. It's important to remember that these companies may not be able to manage more advanced smart keys, and you may need to send your key fob to a third-party to be reprogrammed.

In the majority of instances, 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 to exceed the deductible, and it will remain on your record. This could lead to higher insurance premiums when renewal time comes around.

Uninsured/Underinsured Motorist Coverage

If you're a savvy car owner, then you probably have spare keys somewhere safe. What happens if they get lost or stolen? It's a frustrating situation and getting replacements can be more costly.

Unfortunately the standard auto insurance policies do not typically cover car key loss or theft. Certain policies might cover car key theft or loss under collision and comprehensive coverage. However, this is only applicable when the vehicle was in use at the time. It's not certain that the items inside your car are covered. There are policies that cover electronic fobs, however they are not common.

It is typical to file an independent claim with your homeowners or renters insurance for the items that you want to replace in your vehicle. If you have both policies combined, you can reduce time by filing the claims together.

Even the most secure locking system may fail over time. It is essential to have a spare key set in website your possession, and to check for wear and tear regularly.

Understanding your options will help reduce the stress. Insurance companies offer roadside assistance plans which will give you keys to replace if yours is ever stolen. Some of these plans will also provide you with locksmith services and the reprogramming of your immobiliser at no cost.

These services can be beneficial, but they don't substitute the benefits of a comprehensive car insurance policy that includes stolen vehicle key coverage. If you're uncertain whether or not your insurance provider offers you this type of protection it's best to speak with an agent licensed to discuss your options. They can also assist you to select the best policy for your needs and budget. Contact us now for a no-cost quote. We can help you shop for the best insurance coverage for car keys stolen insurance, with competitive rates.