What Is Car Key Stolen Insurance And Why Is Everyone Speakin' About It?

Can You Make a Claim For the Cost of a Car Key Replacement?

If you have comprehensive insurance for your car coverage, you may be able to file a claim for the cost of replacing a key. The conditions and terms of the policy will determine whether you are eligible to claim an additional key.

It is not uncommon for insurance companies to pay theft claims without checking the forensic information of the keys.

Theft

Car key theft is a serious issue because it could cause you to be without a car and in need of alternative transportation. Fortunately, your auto insurance policy can help in this circumstance. The nature of the incident along with the terms and conditions of your policy, will determine if you make an insurance claim. For instance, if you are in an accident and your keys are in the interior of the vehicle at the time of the accident, it may not be considered a crime since the car is already being used by another. In this case it is recommended to call the police 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 incidents can result in higher insurance premiums for autos and therefore it is crucial to know your coverage and what is covered by your policy.

The majority of car insurance policies don't cover the cost of new keys in the event they are damaged or lost, even if comprehensive coverage is provided. Certain plans offer roadside assistance that includes key replacements up to a limit. It is important to consider the cost of replacing your car keys prior to filing a claim.

Modern "smart" key systems rely on commercial radio waves to communicate with sensors and control modules, according to Thatcham Research. This system is known as the controller area network, or CAN. The thieves have figured out an opportunity to steal the signal to unlock or start the vehicle from outside. To accomplish this, thieves collaborate in pairs. One thief stands in the street with a transmitter device to receive the signal while another tries to steal the key fob.

Also, personal property in the vehicle is usually covered by renters or homeowners insurance. It might be worthwhile to replace your car's remote key fob in the event that the cost is lower than the deductible, or if you anticipate future insurance premiums will increase due to making a claim.

Damage

If a car key is lost and not replaced quickly the owner may be liable to high costs to repair damaged locks. The cost of repairs can be more than the cost of replacing keys.

If you have a comprehensive insurance policy on your car, it can help cover certain damages. However, this is not always the case. To be aware of your policy, it's important to talk to your agent and read it carefully.

Most insurance policies for cars do not offer coverage for keys that are stolen. The only exception is the case if you have roadside assist coverage. In these situations, the insurance company may help towing your vehicle to a locksmith who can create an entirely new key. The driver is accountable for the cost of the new key.

You can also inquire with your home or renters' insurance to determine if they offer personal property insurance. If you lose your key in a bag 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 that is typically greater than the cost of replacing a key.

In general, filing an insurance claim isn't worth the effort. The cost of replacing a key is usually higher than your deductible, and a lot of keys are programmed to be expensive.

If you do decide to file an insurance claim, make sure to save all your receipts. The insurance company may pay you back if the claim is approved, however it will depend on the terms of your specific policy.

If you have questions about whether your home or vehicle insurance covers stolen or lost keys, you can contact your local Hibbs independent insurance agent. We can help you find the best auto, home or renters' insurance to protect your family. If it's time for you to review your insurance policy, we can compare quotes and help you pick the most appropriate option for your needs.

Replacement

If you lose or have keys to your car stolen, you must take a close look at the different options for replacing them. The type of car key you have will determine the insurance policy that will replace it and how much it could cost. You also have to consider whether filing a claim against your car insurance will affect your premiums.

You'll need to contact your dealer if you own a vehicle with an electronic key. In this situation the dealer will require proof of ownership like the title or registration of the vehicle to make the replacement key for you. It is essential to keep copies in a secure place of your registration and purchase papers.

In some cases the comprehensive insurance may pay for the cost of a lost or stolen car key. You'll need to pay a deductible which is usually higher than the price of a replacement key. If you have an ignition with a standard turn key, it could be easier to get the new one from an auto locksmith or a local locksmith parts shop.

Another alternative for car owners with a stolen or lost key is to file a claim through their renters or home insurance. Personal property coverage is usually included in these policies, and it includes the amount needed to protect against the loss of keys, or other items kept at home.

You can also contact your local garage to inquire whether they have the tools needed to reprogram your key fob. Some garages offer on-site key programming, which can save you money as well as time. However it is important to keep in mind that these companies will not be equipped to handle more sophisticated types of smart keys. You may require sending the key fob away to reprogramme it.

In most instances, it's not worth the time and effort to submit an insurance claim for a stolen or lost car key. The cost of replacing the key fob is likely to exceed your deductible. It will remain on your record. This could lead to higher insurance premiums at renewal.

Uninsured/Underinsured Motorist Coverage

If you're a smart owner of a car you are likely to have a spare key set in a safe place. What happens if they get lost or stolen? It's a frustrating situation, and getting replacements may be even more expensive.

Unfortunately the insurance car stolen with keys standard auto insurance policies do not typically provide coverage for car keys theft or loss. They may offer some coverage under collision or comprehensive coverage, but this is only if your car was being driven at the time of the theft. It's also not guaranteed that the belongings in your car will be covered. There are policies that provide additional coverage for things like electronic fobs, but these are rare.

It is typical to file an independent claim with your homeowners or renters insurance for the items you'd like to replace in your vehicle. If you have both policies combined together, you'll save time by filing the claims together.

It's a good idea to be aware that even the most secure locking systems can break down with time. It is essential to have a spare key set in your inventory and to examine for wear and tear frequently.

While it's never ideal to lose your keys, knowing what options are available can ease the burden. Find insurers who offer roadside assistance plans. They will provide you with new keys in the event you lose your keys. Some of these insurance companies will also provide you with locksmith services and reprogramming your immobiliser at no cost.

These services can be beneficial however they aren't able to take away the benefits of a comprehensive car insurance policy. They don't replace stolen car key insurance. If you're uncertain whether or not your insurance provider offers you this type of coverage it's recommended to talk to an authorized agent to discuss your options. They can also assist you in choosing the appropriate policy to meet your needs and budget. Contact us today to get a no-cost quote. We will help you shop for the best insurance coverage for car keys stolen insurance, at competitive rates.