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. It's dependent on the terms and conditions of your policy, though.
Unfortunately, it is not uncommon for insurers to pay theft claims without a thorough review of the keys' forensic information.
Theft
Car key theft is a major problem because it can leave you without a vehicle and in need of alternative transportation. Your insurance policy for your vehicle can help you in this situation. The nature of the incident, and the terms and conditions of your policy, will determine whether or not you are able to make an insurance claim. If you're involved in a car crash and your keys were in the vehicle, it could not be considered a theft since the vehicle was already being used by another person. In this situation, it is best to contact the police immediately.
According to the National Insurance Crime Bureau, car thefts are on the rise due to unlocked vehicles and keys left in vehicles. These crimes can result in higher insurance premiums for autos, so it is important to understand your coverage and what is covered under your policy.
In general, most auto insurance policies won't cover your costs for new keys that are stolen or lost, even if you have comprehensive coverage. However, certain plans provide roadside assistance, which includes keys replacement up to a certain limit. This is why it is essential to take a close look at the worth of your car's key and how much it might cost to replace them prior to making a claim.
Thatcham Research explains that many modern "smart key" systems use commercial radiowaves to connect with sensors or control modules. This is known as controller area networks, also known as CAN. Thieves have discovered a method to sabotage the signal which allows them to open or start a car from outside of it. To accomplish this thieves, they operate in pairs. One thief makes use of a transmitter to pick up the signal while the other is trying to steal a key fob.
It's also worth noting that personal property contained within the vehicle is typically covered by homeowner or renters insurance. If the cost of replacing your vehicle's key fob is lower than the deductible and any future increases in insurance premiums that could be incurred when filing an insurance claim it could be worth it.
Damage
If a car's key is lost and not replaced immediately the owner could be faced with high costs to repair damaged locks. These costs can even exceed the cost of replacing keys.
If you have a comprehensive insurance policy on your car, it can help cover some damages. However, this is not always the case. It is essential to speak with your auto insurance agent and study your policy carefully to understand what is covered.
The majority of car insurance policies do not provide coverage for keys that are stolen. The only exception is when you have roadside assistance coverage. In these cases, the insurance company may help towing your vehicle to a locksmith who will make a new key. However the driver is accountable for the new key.
Check with your renters or home insurance to see if personal property is covered. If you lose your key in a purse or backpack, you may be able to file a claim for all the contents of the bag. You will have to pay a deductible, which is typically greater than the cost of replacing the key.
Generally, it's not worth the hassle to file an insurance claim to replace missing keys. The replacement costs are rarely less than your deductible and most newer keys require programming that could be costly.
If you do decide to file a claim with an insurance company ensure that you save all your receipts. Your insurance company can pay you back if the claim is approved, however this will depend on the specifics of your policy.
If you're unsure click here whether your car or home insurance covers stolen or lost keys, you can contact your local Hibbs independent insurance agent. We can help you find the right auto, home, or renters' insurance policy to protect your family. We can assist you in comparing quotes for your insurance policy and choose the best option for your situation.
Replacement
It is important to think about your options if you've lost or had your car keys stolen. The type of car keys you own will determine the insurance policy that will replace it and the amount it will cost. You also have to be aware of whether filing a claim with your car insurance will affect your cost.
If your car is a more recent model with an electronic key fob you'll likely have to go through the dealer to get an alternative key made. In this case the dealer will require proof of ownership of the car such as 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 documents.
In certain situations, comprehensive coverage may cover the cost of a lost or stolen car key. However, you should be prepared to pay the deductible, which is likely more than the cost of a new key. If you have a standard turn-key ignition, it might be easier to purchase a replacement from a locksmith or auto parts store.
Another option for car owners who have a stolen or lost key is to file a claim through their renters or home insurance. This is because personal property coverage on these policies typically includes a certain amount for the loss of keys or other items that are stored in your home.
You can also contact your local garage and ask whether they have the necessary equipment to reprogram your key fob. Some places offer on-site key programming services, which can save you money as well as time. However it's important to keep in mind that these companies will not be able to handle more advanced kinds of smart keys. They might require sending the key fob away to reprogramme it.
In most instances, it's not worth the time and effort to file an insurance claim for a lost or stolen car key. The costs of replacing the key fob are likely to be more than the deductible, and it will stay on your record, possibly leading to higher premiums when you renew.
Uninsured/Underinsured Motorist Coverage
If you are a smart owner of a vehicle and you have a spare key set in a safe place. But what happens if they are stolen or lost? It's a difficult situation and getting replacements can be more expensive.
Standard auto insurance policies don't cover the loss of keys to your car or theft. They may provide some coverage under comprehensive or collision coverage, but that's only if your vehicle was driving at the time of the theft. It's not a guarantee that the belongings in your vehicle will be covered either. You can find policies that provide additional coverage for electronic fobs, such as RFIDs, but these are rare.
Typically, you'll need to file a separate claim with your renters or home insurance policy for the items that are in your vehicle that need to be replaced. If you have both policies combined, you can save time by filing the claims together.
It's a good idea to keep in mind that even the most secure locking systems can break down over time. This is the reason it's essential to keep a spare set keys in the lock and to check for signs of wear and tear on a regular basis.
Knowing your options can aid in reducing stress. You can find insurers that provide roadside assistance programs which will give you replacement keys if yours are ever stolen. Some of these plans include free locksmith services and will reprogram your immobiliser.
However, while these services are beneficial, they aren't an alternative to the full benefits of a comprehensive or collision auto insurance policy that offers keys stolen from cars coverage. If you're uncertain whether or not your insurance provider can offer you this type of protection, it's a good idea to talk to an agent licensed to discuss your options. They can also assist you in selecting the best policy to suit your budget and needs. Contact us today to receive no-cost quotes. We can help you shop for the best insurance including car key theft insurance, at competitive rates.