Can You Make a Claim For the Cost of a Car Key Replacement?
If you have comprehensive coverage on your automobile insurance, you might be able to claim the cost of the purchase of a new key. It will depend on the terms and conditions of your policy however.
It is not uncommon for insurance companies to pay out theft claims without checking the forensic data of the keys.
Theft
Car key theft is a major issue as it can result in you not having a car and needing alternative transportation. Fortunately, your insurance policy can help in this situation. The decision to file an insurance claim will depend on the nature of the incident as well as the specific terms and conditions listed in your policy. For instance, if are in an accident and your keys are inside of the vehicle at the time it is not considered a theft because the car is already being occupied by someone else. In this case it is advisable to call the police immediately.
According to the National Insurance Crime Bureau, car thefts are increasing due to unlocked vehicles and keys left in vehicles. These incidents can result in higher insurance premiums for auto insurance and it's crucial to know what your policy covers.
Most automobile insurance policies do not cover the cost of new keys in the event that they are lost or damaged even if comprehensive insurance is included. Some plans include roadside assistance that includes key replacements up to a limit. It is essential to take a close look at the worth of your car's key and the amount it would cost to replace them prior to filing an insurance claim.
Many modern "smart" key systems use commercial radio waves to communicate with sensors and control modules, according to Thatcham Research. This system is known as controller area networks, or CAN. The criminals have discovered a way to hijack the signal and then unlock or start the car from outside. For this thieves, they collaborate in pairs. One thief makes use of a transmitter to pick up the signal, while the other tries to steal a key fob.
Also, personal property in a car is usually covered by renters or homeowners insurance. If the cost of replacing your car's key fob is lower than the deductible and future insurance premium increases that might be incurred by filing an insurance claim, it could be worth it.
Damage
If a lost car keys is not replaced promptly, the owner may be charged a high price to repair damaged lock mechanisms. These costs can even exceed the cost of replacing keys.
If you have insurance coverage that is comprehensive on your vehicle, it can help cover some damages. However, this is not always the case. To fully understand the policy, it's crucial to speak with your agent and to read it carefully.
The majority of car insurance policies do not provide the coverage of keys that are stolen. Only if you have roadside protection can you receive coverage for keys that are stolen. In these cases the insurance company could offer to tow your vehicle to a locksmith who can make the new key. The driver is responsible for the cost of the new key.
You may also contact your renters' or home owners' insurance to see whether they offer personal property insurance. If your key gets lost in a purse or backpack, you may be able to claim all the contents of the bag. You'll need to pay a deductible which is usually more than the cost of replacing a key.
Generally, it's not worth the effort to submit an insurance claim for missing keys. The replacement costs are usually lower than your deductible and a lot of newer keys require programming that could be costly.
If you decide to file a claim with an insurance company be sure to save all your receipts. If your claim is accepted by your insurance company, you could be reimbursed. However this will depend on your policy.
If you're unsure whether your home or car insurance covers stolen or lost keys, call your local Hibbs independent insurance agent. We can assist you in selecting the best insurance for your car, renters' or home insurance to safeguard your loved ones. And if it's time to review your insurance policy, we can compare quotes and help you pick the best option for your needs.
Replacement
If you lose or have keys to your car lost, it's crucial to take a close look at the various options available to replace keys. The type of car keys you have will determine the insurance policy that will replace it and how much it could cost. It is also important to consider the impact of submitting an insurance claim through your vehicle insurance on your costs.
You'll have to contact your dealer if you have an electronic key. In this instance 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 place of your registration and purchase papers.
In some cases comprehensive coverage will cover the cost of the replacement of a stolen or lost key. You'll have to pay a deductible, which is typically higher than the cost of a replacement key. If you have an ignition that is standard, it might be easier to find a replacement at a locksmith or auto parts store.
Another alternative for car owners who have lost or stolen keys is to file a claim through their renters or homeowners insurance. Personal property coverage is usually included in these policies, and it includes an amount that will ensure the replacement of keys or other items 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 provide key programming on-site which can save time and money. It's important to note that these companies might not be able to manage advanced smart keys, and you may need to send your key fob to a third-party for reprogramming.
In the majority of cases, submitting an insurance claim to replace a stolen or lost key is not worth the effort. The cost of replacing the key fob is likely to exceed your deductible, and it will remain on your record. This could lead to higher insurance premiums at renewal.
Uninsured/Underinsured Motorist Coverage
If you're a smart car owner, then you probably have a spare set keys somewhere secure. But what happens if they get lost or stolen? It's a frustrating and expensive situation.
Unfortunately the standard auto insurance policies don't typically cover key theft or loss. Some policies may cover key theft or loss under collision and comprehensive coverage. car key stolen insurance However, this is only applicable when the vehicle was being used at the time of the incident. The contents of your vehicle might not be covered. There are policies that provide additional coverage for electronic fobs, such as RFIDs however these are very rare.
Typically, you'll need file a separate claim with your renters or homeowners insurance policy for the items in your vehicle that need to be replaced. But if you have your policies combined and you're able to save time by filing both claims at once.
It's important to be aware that even the most secure locking systems could break down over time. It is essential to have an extra key on hand, and to check for wear and tear frequently.
While it's never ideal to lose your keys, knowing what options are available will help ease the stress. Find insurance companies that provide roadside assistance plans. They will give you new keys in the event that yours is stolen. Some of these plans offer free locksmith services and will reprogramme your immobiliser.
These services can be beneficial but they're not able to substitute the benefits of a comprehensive auto insurance policy that includes stolen vehicle key insurance. You should speak to an insurance agent who is licensed should you have any concerns regarding the ability of your insurance provider to provide this type of coverage. They can also help you in choosing the appropriate policy that meets your needs and budget. Contact us today to receive an estimate for no cost. We can help you shop for the best insurance coverage including car key theft insurance at affordable rates.