10 Things Everybody Gets Wrong About Car Key Stolen Insurance

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 claims for the cost of a replacement key. The terms and conditions of the policy will determine if you can claim for the replacement of a key.

Unfortunately, it is not unusual for insurers to pay theft claims without doing an exhaustive review of the keys' forensic information.

Theft

Car key theft is a major problem because it can cause you to be without a car and in need of alternative transportation. Fortunately, your insurance policy may help you in this scenario. The nature of the incident, along with the terms and conditions in your policy will determine whether or not you make an insurance claim. For example, if you are involved in an accident and your keys are inside of the vehicle at the time, it may not be considered a crime since the car is already being used by another. In this situation it is best to call the police and notify them immediately.

Car thefts resulting from unlocked cars and keys left inside are increasing, according to the National Insurance Crime Bureau (NICB). These incidents can lead to higher insurance premiums for auto insurance therefore it is important to know what your policy covers.

The majority of automobile insurance policies do not cover the cost of new keys in the event that they get lost or damaged even if comprehensive insurance is provided. However, some plans do offer roadside assistance coverage that includes keys replacement up to a specific limit. It is crucial to think about the cost of replacing your car keys before filing an insurance claim.

Thatcham Research explains that many modern "smart key" systems utilize commercial radiowaves to communicate with sensors or control modules. This is known as controller area networks, or CAN. Thieves have discovered a technique to hijack the signal, which allows them to unlock or even start the car from outside it. To accomplish this, thieves usually operate in pairs. One thief stands in the street with a transmitter device in order to pick up the signal, while another is trying to steal the key fob itself.

Also, personal property inside the car is typically covered by renters or homeowners insurance. If the cost of replacing your car's key fob is less than the deductible and any future insurance premium increases that might 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 may be liable to 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 vehicle it could help pay for some damage. However, this isn't always the situation. To understand the policy, it's crucial to talk to your agent and take the time to read it thoroughly.

Most car insurance policies do not cover keys stolen. Only if you have roadside protection can you receive coverage for stolen keys. In these cases the insurance company will offer to tow your vehicle to a locksmith who will create the new key. However the driver will be accountable for paying for the new key.

Check with your renters or home insurance company to see if personal property is covered. You may be able file a claim if your key is lost in a backpack or purse. However, you'll need to pay the cost of deductible, which will likely be more than the cost of the replacement key.

In general, making an insurance claim isn't worth the effort. The cost of replacing a lost key is usually higher than your deductible. Additionally, many keys are programmed and can be costly.

Keep all receipts in case you decide to submit an insurance claim. The insurance company may pay you back if the claim is approved, but this will depend on the terms of your specific policy.

If you are unsure whether your car or home insurance covers stolen or lost keys, you can contact your local Hibbs independent insurance agent. We can assist you in choosing the best insurance for your car, renters' or home insurance policy to protect your loved ones. We can help you compare quotes for your insurance policy, and help you choose the best policy for your specific needs.

Replacement

It's important to consider your options in the event that you've lost or had your car keys stolen. The type of car key you have will determine the insurance policy that will replace it and how much more info it could cost. You also have to think about whether filing a claim against your vehicle insurance will impact your insurance premiums.

If your car is a newer model that has an electronic key fob, you'll likely need to go through the dealer to get an alternative key made. In this scenario the dealer will require evidence of ownership of the car such as the title or registration in order to make the new key for you. This is why it's crucial to keep copies of your registration and the purchase of your car in a safe place.

In certain situations the comprehensive insurance may cover the cost of a lost or stolen car key. However, you must be prepared to pay the deductible, which is likely higher than the cost of the new key. If you have an ignition that has the standard turn key it could be simpler to purchase an additional one from an auto locksmith or a local locksmith parts shop.

Another option for car owners with a stolen or lost key is to file a claim with their renters or home insurance. Personal property insurance is typically included in these policies and includes a specific amount to cover the loss of keys, or other items that are kept at home.

You could also contact your local garage to find out whether they have the equipment necessary to reprogram your car's key fob. Some garages provide on-site key programming that can save you money as well as time. However it is important to remember that these companies typically will not be able to handle more advanced types of smart keys. You may need to send the key fob to another location to reprogramme it.

In most cases, filing an insurance claim to replace a stolen or lost key isn't worth the effort. The costs of replacing the key fob could exceed your deductible and it will stay on your record and could result in more expensive premiums at renewal.

Uninsured/Underinsured Motorist Coverage

If you're a smart car owner, then you probably have a spare set keys somewhere safe. What happens if they are lost or stolen? It's a frustrating and expensive situation.

Standard auto insurance policies do not cover car key loss or theft. They may offer some coverage under collision or comprehensive coverage, but that's only if your car was in use at the time of the theft. The things in your vehicle might not be covered as well. There are policies that include additional coverage for things like electronic fobs however, they are not common.

Typically, you'll have to file a separate claim with your home or renters insurance policy for the items in your vehicle to be replaced. If you have your policies combined and you're able to save yourself some time by filing both claims in one go.

It's a good idea keep in mind that even the most secure locking systems can be damaged over time. It's important to keep a spare key set in your possession and to examine for wear and tear often.

Understanding your options can aid in reducing stress. Insurance companies provide roadside assistance programs that can provide you with keys to replace if yours is ever stolen. Some of these services will also offer locksmith services and the reprogramming of your immobiliser for free.

Although these services are beneficial, they aren't a substitute for the full benefits of a collision or comprehensive insurance policy for vehicles that provides stolen car keys 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 needs and budget. Contact us today to receive no-cost quotes. We can assist you in finding the best coverage at competitive rates including insurance for car keys stolen.