Five Car Key Stolen Insurance Lessons Learned From Professionals
Five Car Key Stolen Insurance Lessons Learned From Professionals
Blog Article
Can You Make a Claim For the Cost of a Car Key Replacement?
If you have comprehensive car insurance coverage, you may be able to file claims for the cost of replacing a key. It's dependent on the terms and conditions of your policy, however.
It is not uncommon for insurance companies to pay theft claims without examining the forensic data of the keys.
Theft
Car key theft is a major issue because it could result in you not having a car and in need of a different means of transportation. Your auto insurance policy can assist you in this situation. The nature of the incident as well as the terms and conditions in your policy will determine if you make an insurance claim. For example, if you are in an accident and your keys are in the interior of the vehicle at the time the incident, it might not be considered a theft since the car is used by someone else. In this instance, it would be best to call the police and inform them immediately.
According to the National Insurance Crime Bureau, car thefts are on the rise because of unlocked vehicles and keys left in the vehicle. These types of incidents can lead to high auto insurance rates and therefore it is crucial to understand your insurance coverage and what is covered under your policy.
Most car insurance policies don't cover the cost of new keys in the event that they are damaged or lost, even if comprehensive coverage is included. However, some policies do offer roadside assistance coverage that includes key replacement up to a certain limit. It is crucial to think about the cost of replacing your car keys before making a claim.
Thatcham Research explains that many modern "smart key" systems utilize commercial radiowaves to connect with sensors or control modules. This is known as controller area networks, or CAN. The thieves have figured out a way to hijack the signal and then unlock or start the vehicle from outside. To accomplish this, thieves usually operate in pairs. One thief stands in the street with a transmitter device to pick up the signal, while another is trying to steal the key fob.
Additionally, personal property within the vehicle is usually covered by renters or homeowners insurance. If the cost of replacing the key fob is lower than the deductible, and future increases in insurance premiums that could be associated with filing an insurance claim it might be worth it.
Damage
If a car key gets lost and not replaced quickly the owner could be faced with high costs to repair damaged locks. These costs could even be higher than the cost of replacing keys.
Insurance may help to cover a portion of the damage if have a comprehensive insurance policy on your vehicle. However, this is not always the case. It is important to speak with your agent for auto insurance and read your policy closely to know what's covered.
The majority of car insurance policies do not provide coverage for stolen keys. Only if you have roadside coverage can you get coverage for stolen keys. In these cases the insurance company will pay for towing your vehicle to a locksmith to create the new car keys. However, the driver is still responsible for paying for the new key.
You may also contact your renters' or home owners' insurance to see whether they offer personal property insurance. If you lose your key in a purse or backpack it is possible to claim all of the contents in the bag. However, you'll need to pay the cost of deductible, which will likely be more than the cost of the replacement key.
It's generally not worth the hassle to file an insurance claim for missing keys. The replacement costs are rarely less than your deductible and most modern keys require programming, which can be very expensive.
Keep all receipts in case you decide to submit an insurance claim. If your claim is accepted by your insurance company, you could be reimbursed. However it will depend on your policy.
Contact your local Hibbs independent agent if you have questions regarding whether your auto or home insurance will cover stolen or lost keys. We can help you find the right auto, home or renters' insurance to protect your family. We can help you compare quotes for your insurance policy and choose the most appropriate option for your situation.
Replacement
If you've lost or had keys to your car lost, it's crucial to examine the various options to replace keys. The type of car key you have will determine the insurance policy that will provide for its replacement and the amount it will cost. It is also important to consider the impact of submitting an insurance claim through your vehicle insurance on your costs.
You'll need to call your dealer if you have an car stolen with keys inside insurance electronic key. In this case the dealer will require proof of ownership such as the title or registration of the vehicle in order to create an appropriate replacement key for you. It is important to keep a copy in a safe place of your registration and purchase papers.
In certain situations, comprehensive coverage may be able to cover the cost of a stolen or lost car key. However, you should be prepared to pay for the deductible, which is likely more than the cost of an entirely new key. If you have an ordinary turn-key ignition it might be easier to get a replacement at an auto parts or locksmith store.
A car owner who has lost or stolen key can also file a claim through their renters' or home insurance. Personal property insurance is typically included in these policies and includes a specific amount to ensure the replacement of keys, or other items kept at home.
You can also call your local garage to find out if they have the equipment necessary to reprogram your car's key fob. Some garages offer key programming on-site which can save time and money. It is important to keep in mind that these companies may not be able to handle more advanced smart keys, and you may need to send your key fob to a third-party to reprogramme it.
In the majority of cases it's not worth the time and effort required to make an insurance claim for a stolen or lost car key. The costs of replacing the key fob will likely be more than your deductible and it will stay on your record which could lead to higher premiums when you renew.
Uninsured/Underinsured Motorist Coverage
If you're a savvy car owner, then you probably have a spare set keys somewhere safe. What happens if they are lost or stolen? It's a difficult situation, and getting replacements could be more expensive.
Unfortunately the standard auto insurance policies don't usually cover car key theft or loss. They might provide some protection under comprehensive or collision coverage, but this is only if your vehicle was being driven at the time of the theft. It's not a guarantee that the contents of your car will be covered either. There are policies that include additional coverage for things like electronic fobs however these are very rare.
It is typical to file an independent claim with your renters or homeowners insurance for the things you want to replace in your vehicle. If you have your policies bundled together it is possible to save yourself time by filing both claims at once.
It's a good idea keep in mind that even the most secure locking systems may fail over time. It is essential to have an extra key in your inventory, and to check for wear and tear often.
Understanding your options will ease the burden. There are insurance companies that provide roadside assistance plans which will give you replacement keys if yours are ever stolen. Some of these services will also provide you with locksmith services and reprogramming your immobiliser without charge.
However, while these services are beneficial but they're not a substitute for the full benefit of a comprehensive or collision insurance policy for vehicles that provides stolen car keys coverage. You should speak to a licensed insurance agent If you have any doubts about the capability of your provider to provide this type of coverage. They can help you select the best policy to meet your requirements and budget. Contact us today to receive a free quote. We can assist you in shopping for the best insurance coverage for car keys stolen insurance at affordable rates.