Five Car Key Stolen Insurance Lessons From The Pros
Five Car Key Stolen Insurance Lessons From The Pros
Blog Article
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 submit an claim for the cost of a replacement key. It's dependent on the terms and conditions of your policy however.
Unfortunately, it is not common for insurers to settle theft claims without doing an extensive examination of the keys' forensic data.
Theft
Car key theft is a serious issue because it could result in you not having a car and in need of a different means of transportation. Fortunately, your auto insurance policy can help in this circumstance. If you decide to make an insurance claim will be contingent on the nature of the incident as well as the specific terms and conditions that are listed in your policy. If you're involved in a car crash and your keys were in the vehicle, it might not be considered a theft since the vehicle was occupied by another person. In this scenario it is advisable to contact the police immediately.
Car thefts resulting from unlocked cars and keys that are left inside are increasing according to the National Insurance Crime Bureau (NICB). These incidents can lead to higher insurance premiums for auto insurance, so it's important to know what your policy covers.
In general, most car insurance policies will not cover the cost of new keys if they are stolen or lost even if you have comprehensive coverage. However, some policies do provide roadside assistance, which covers keys replacement up to a specific limit. This is why it is crucial to consider the value of your car's keys and how much it will cost to replace them prior to making an insurance claim.
Thatcham Research explains that many modern "smart key" systems utilize commercial radiowaves to connect with sensors or control modules. This system is called the controller area network or CAN. The criminals have found a way to hijack the signal and then unlock or start the car from outside. To do this, thieves typically work in pairs. One thief uses an electronic transmitter to detect the signal while the other attempts to steal a key fob.
It's also worth noting that personal property that's inside the vehicle is typically covered by homeowner or renters insurance. It may be worth it to replace your car's remote key fob if the cost is less than the deductible, or if you anticipate future insurance premium increases associated with making an insurance claim.
Damage
If a car key is lost and is not replaced immediately, the owner may be charged high-priced fees to repair damaged lock mechanisms. The cost of repairs can be more than the cost of replacing keys.
If you have comprehensive insurance on your vehicle it could help pay for some damage. This is not always true. To understand your policy, it's essential to speak with your agent and study the policy carefully.
Most car insurance policies exclude coverage for keys that are stolen. The only exception is if you have roadside assistance coverage. In these instances the insurance company will cover to tow your vehicle to a locksmith who will create an entirely new car key. However the driver is responsible for paying for the new key.
Check with your renters or home insurance provider to determine if personal property is covered. If your key is lost in a backpack or purse you might be able to file a claim for all of the contents in the bag. You will have to pay a deductible, which is usually more than the cost of replacing a key.
In general, it's not worth the effort to file an insurance claim to replace missing keys. The cost of replacing a lost key is usually greater than your deductible and many keys are programmed and can be costly.
If you do decide to file an insurance claim, make sure to save all your receipts. The insurance company may pay you back if your claim is approved, however this will depend on the specifics of your policy.
Contact your local Hibbs independent agent if you have any concerns about whether your home or auto insurance will cover lost or stolen keys. 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 choose the most appropriate 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 key you own will determine the insurance policy that will replace it and how much it could cost. You should also consider the impact of filing an insurance claim through your vehicle insurance on your premiums.
If your car is a more recent model that has an electronic key fob, you'll probably need to contact the dealer to have a replacement made. In this scenario, the dealership will need evidence of ownership of the car such as the registration or title to make an appropriate key for you. It is important to keep a copy in a safe location of your registration and purchase papers.
In certain cases, comprehensive coverage will cover the cost of the replacement of a stolen or lost key. However, you should be prepared to pay for the minimum deductible, which will likely be more than the cost of an entirely new key. If you have an ignition with a standard turn key, it may be simpler to get a new one at an auto locksmith or a local locksmith parts store.
Another alternative for car owners with lost or stolen keys is to file a claim with their home or renters insurance. This is because personal property coverage under these policies usually includes a certain amount for the loss of keys or other belongings which are kept at your home.
You can also try calling your local garage to find out if they have the equipment required to reprogram your car's key fob. Some garages provide on-site key programming that can save you money and time. However it's important to keep in mind that these companies will not be capable of handling more sophisticated kinds of smart keys. They website may need to send the key fob away for reprogramming.
In the majority of cases, submitting an insurance claim to replace a lost or stolen key isn't worth the effort. The cost of replacing the key fob will likely exceed your 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're lost or stolen? It's a stressful and costly situation.
Standard auto insurance policies do not cover car key loss or theft. They might provide some protection under collision or comprehensive coverage, but only available if your car was driving at the time of the theft. The things in your vehicle may not be covered. There are policies that cover electronic fobs, however they are extremely rare.
It is typical to file an independent claim with your homeowners or renters insurance for the items you wish to replace in your vehicle. If you have both policies combined and you want to save time by filing both claims together.
It's a good idea be aware that even the most secure locking systems may fail with time. It is essential to have an extra key in your inventory, and to check for wear and tear regularly.
While it's never ideal to lose your keys, understanding what your options are can ease the burden. Find insurance companies that offer roadside assistance plans. They will provide you with new keys in the event that you lose your keys. Some of these plans offer locksmith services that are free and will reset your immobiliser.
These services may be convenient but they're not able to take away the benefits of a comprehensive car insurance policy that includes stolen vehicle key insurance. You should consult a licensed insurance agent If you have any doubts about your provider's ability to provide this kind of protection. They can also help you choose the right policy for your requirements and budget. Contact us now for a no-cost quote. We can assist you in shopping for the best insurance coverage, including car key stolen insurance at affordable rates.