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 a claim for the cost of replacing a key. It's dependent on the terms and conditions of your policy, though.

It is unusual for insurers to pay theft claims without doing an exhaustive review of the keys' forensic information.

Theft

Car key theft is a serious issue as it can cause you to be without a car and in need of a different means of transportation. Your insurance policy for your vehicle can help you in such a situation. The decision to file an insurance claim is contingent on the nature of the incident and the specific terms and conditions that are listed in your policy. For instance, if you are involved in an accident and your keys are inside of the vehicle at the time it is not considered a theft since the car is already being used by someone else. In this situation it is best to call the police and notify them immediately.

According to the National Insurance Crime Bureau, car thefts are on the rise due to vehicles that are not locked and keys left in the vehicle. These incidents can result in the cost of insurance for automobiles to be high, so it is important to understand your coverage and what is covered by your policy.

Most car insurance policies do not cover the cost of replacement keys in the event that they get lost or damaged even if comprehensive insurance is included. However, some policies do provide roadside assistance that includes key replacement up to a certain limit. This is why it is important to carefully consider the value of your car's keys and the amount it would cost to replace them prior to filing claims.

Thatcham Research explains that many modern "smart key" systems utilize commercial radiowaves to communicate with sensors or control modules. This system is called the controller area network, or CAN. Thieves have discovered a technique to hijack the signal, which allows them to unlock or start cars from outside of it. To accomplish this, thieves typically operate in pairs. One thief is outside with a transmitter device to receive the signal while another tries to take the key fob.

Also, personal property in the car is typically covered by renters or homeowners insurance. If the cost of replacing your vehicle's key fob is less than the deductible, and future insurance premiums that could be incurred by making an insurance claim, it could be worth it.

Damage

If a car key is lost and is not replaced promptly the owner may be liable to expensive fees to repair damaged locks. These costs could even exceed the cost of replacing keys.

Insurance may help to cover a portion of the damages if you have a comprehensive insurance policy on your vehicle. However, this is not always the case. To be aware of your policy, it's essential to talk to your agent and read it carefully.

Most insurance policies for cars do not provide coverage for keys that are stolen. The only exception is when you have roadside assistance coverage. In these situations the insurance company could help towing your vehicle to a locksmith who will create a new key. The driver is accountable for the cost of the new key.

Check with your renters or home insurance company to see whether your personal property is insured. If you lose your key in a bag or purse, you may be able to claim all of the contents in the bag. However, you'll have to pay the deductible, which is likely more than the cost of the replacement key.

Generally, it's not worth the hassle to file an insurance claim to replace missing keys. The replacement costs are rarely lower than your deductible and many newer keys require programming which can be expensive.

If you decide to file an insurance claim, make sure to save all your receipts. Your insurance company can reimburse you if your claim is approved, however it will depend on the specifics of your policy.

Contact your local Hibbs independent agent if there are any questions about whether or not your home or auto insurance will cover stolen or lost keys. We can help you choose the right insurance for your car, renters' or home insurance to safeguard your loved ones. If it's time to review your insurance plan we can review quotes and help you choose the most appropriate option for your needs.

Replacement

If you lose or have keys to your car stolen, it's important to be aware of the different options for replacing them. The type of key you have will determine which insurance policy you can use to replace it, and what it will cost. You also have to think about whether filing a claim on your car insurance will affect your insurance premiums.

You'll need to contact your dealer if you own a car with an electronic key. In this instance the dealer will require proof of ownership of the vehicle such as the title or registration to create a new key for you. It's important that you keep a copy in a safe location of your car registration and purchase papers.

In some instances comprehensive insurance can cover the cost of a lost or stolen car key. However, you must be prepared 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 purchase a replacement from a locksmith or auto parts store.

Another alternative for car owners who have lost or stolen keys is to file a claim with their home or renters insurance. This is because personal property coverage on these policies typically includes a specific amount for the loss of keys or other belongings which are kept at your home.

You could also contact the garage in your area to see whether they have the tools necessary to reprogram your car's key fob. Some locations provide key programming on-site which can save time and money. However it is important to keep in mind that these companies will not be capable of handling more sophisticated types of smart keys and may need to send the key fob to another location for reprogramming.

In the majority of cases, filing an insurance claim to replace a lost or stolen key is not worth the effort. The cost of replacing the key fob is likely to be higher than your deductible, and it will remain on your record. This could lead to increased insurance premiums when renewing.

Uninsured/Underinsured Motorist Coverage

If you're a smart owner of a vehicle and you have a spare set of keys in a safe place. What happens if they are lost or stolen? It's a stressful situation and getting replacements can be more costly.

Standard auto insurance policies do not cover the loss of keys to your car or theft. They may provide some coverage under comprehensive or collision coverage, but only if your car was driving at the time of the theft. The things in your car may not be covered. There are policies that cover electronic fobs, but they are extremely rare.

You'll usually have to file an independent claim with your homeowners or renters insurance for the things you wish to replace in your vehicle. But if you have your policies in a bundle and you're able to save time by filing both claims in one go.

It's a good idea to keep in mind that even the most secure locking systems could fail in time. It's important to keep a spare key set in your possession, check here and to check for wear and tear regularly.

Knowing your options can ease the burden. There are insurance companies that offer roadside assistance plans that can provide you with keys to replace if yours is ever stolen. Some of these services will also provide you with locksmith services and the reprogramming of your immobiliser at no cost.

However, while these services are useful, they aren't a substitute for the full benefits of a collision or comprehensive auto insurance policy that includes keys stolen from cars coverage. If you're unsure whether your insurance company can provide you this type of coverage it's best to speak with an agent licensed to discuss your options. They can also assist you in choosing the right policy to meet your budget and needs. Contact us today for a free quote. We can help you find the best coverage for you at competitive rates and include insurance for keys to your car stolen.