Does Your Car Insurance Coverage Reimburse Your Lost or Stolen Keys?

28 Dec Does Your Car Insurance Coverage Reimburse Your Lost or Stolen Keys?

Car insurance covers you and your vehicle from at-fault accidents, collisions, and resulting losses and damages. However, does it cover lost or stolen car keys? It depends on the coverage you have. Generally, a basic car insurance policy excludes coverage for lost or stolen keys, because they are considered personal property. Are you wondering what coverage might help to cover lost or stolen keys? Read on to find out.

When Can You Claim for Lost or Stolen Keys Under Car Insurance?

No car insurance policies will kick in just to cover the lost or stolen keys under any circumstances. However, if you have comprehensive coverage in your policy, you can file a claim for your stolen car and the properties inside it, including its keys.

Do Any Other Insurance Policies Cover Lost or Stolen Keys?

Renters and homeowners insurance policies cover lost or stolen keys under personal property coverage. These policies will cover the theft of your personal belongings happening on and off your premises. For example, if your handbag or purse is stolen while traveling and your car key is inside it, you can file a claim for stolen keys through personal property coverage.

Is Filing a Claim for Stolen or Lost Keys Worth the Money?

It depends on the cost to replace your key and your deductible amount. Outdated mechanical keys cost less to replace, provided you have a spare to make a new one. Keys fobs cost more than mechanical keys but still can be affordable. So, filing a claim for such keys may not even exceed your insurance deductible, but may stay on your claims records, resulting in increased premiums while renewal.

You can file a claim if you have a high-tech smart key that costs several hundred dollars to replace and program. Even in this case, you must compare the total replacement cost against your deductible amount to determine whether filing a claim is worth your money and time and have any negative consequences on your premium.

What to Do If I Have Lost My Car Keys and Cannot Get Inside My Vehicle?

If you have roadside assistance coverage, your insurance provider will send a locksmith to create a duplicate key, helping you get into your car. In that circumstance, your insurance coverage will only cover the transportation costs of the locksmith, and you will need to pay for the new key.

If the locksmith is unable to create a new key, roadside assistance coverage will pay to tow your car to the service shop or dealer who can make a new key. Even in this case, you must pay for the new key.

Can You Buy Insurance for Stolen Keys?

Some companies offer special coverage for key replacement, which is typically sold through dealers when you buy the car.

The specialty coverage covers:

• Locksmith charges
• Key fob costs
• Door key replacement costs

Now you know when car insurance and other policies cover stolen or lost keys, so you can make an informed decision concerning the coverages you need to have covered.

Get Comprehensive Car Insurance from KSD Insurance

If you are looking for all-in-one car insurance coverage at an affordable rate, contact our insurance professionals Kevin or Merci today at Kevin S. Dougherty Insurance. We look forward to protecting you at every turn with our customized auto coverage.