Losing your car keys is unpleasant and inconvenient, and it may also be costly. Because modern electronic key fobs are much more expensive to replace than traditional keys, a simple case of forgetfulness could end up costing you a lot more than you think.
Examine your best options for replacing car keys, as well as whether or not your car insurance covers missing keys.
Are lost car keys covered by insurance?
If you have comprehensive coverage or roadside assistance, key replacement may be included.
Lost car keys aren’t covered by all comprehensive car insurance policies; some include it as standard, some as an optional extra, and still others don’t cover it at all. With this in mind, review your policy documentation to see if your insurance offers any protection.
If your coverage covers missing keys, the cost of replacing the keys or recoding the locks on your car will be covered up to a certain maximum.
As part of their roadside assistance package, some insurers will provide protection for lost car keys, such as by giving a spare key or dispatching an automobile locksmith.
What’s covered by replacement key insurance?
Car insurance policies that cover lost or stolen keys will often cover the following expenses:
It’s vital to keep in mind that coverage limits apply to reimbursements for lost or stolen automobile keys. Many insurance, for example, will pay a maximum benefit of $1,000, which may be sufficient to cover the cost of one replacement key but may not be sufficient if you’ve misplaced both of your electronic keys.
You’ll normally be covered for spare key delivery or locksmith attendance if you add optional roadside assistance to your policy.
Does it matter if my keys are lost or stolen?
While car insurance may not always cover misplaced keys, most policies will provide some coverage if your keys are stolen.
Theft of keys is usually covered by comprehensive insurance, which provides a benefit to assist cover the expense of replacing or recoding your vehicle’s keys and locking mechanisms.
If the keys are stolen by a family member or someone who lives with you, you will not be covered, but you must still report the loss to the police.
While coverage for stolen car keys is common, coverage for misplaced car keys is far more difficult to come by. Many plans will refuse to cover you if you just misplace your keys and can’t show that they were stolen.
How much does it cost to get a replacement car key?
It’s a lot more than it was before. Replacing old-school automobile keys was straightforward and inexpensive all you had to do was have new keys cut to fit the locks on your doors and ignition.
Modern keyless entry remotes, on the other hand, are significantly more difficult and expensive to replace because they’re coded to match your car’s computer and anti-theft immobilizer. So, how much money are we discussing?
A key, fob, and programming replacement can cost anywhere from $200 to $500. This amount rises dramatically if you lose both master keys to your automobile, as the vehicle’s computer will need to be reset or possibly replaced to match the new keys. As a result, losing both keys may cost upwards of $5,000.
It’s worth mentioning, though, that if you shop around for a professional automotive locksmith, you might be able to find a cheaper way to cut and recode keys.
What should I do if I lose my keys?
Most new automobiles come with two electronic master keys that are custom-programmed for your car. With this in mind, the safest (and most cost-effective) thing to do if you lose one of your keys is to get it replaced as quickly as possible.
This is due to the fact that changing a single key is a reasonably simple and affordable procedure. Without having to change anything inside your car, car dealers or auto locksmiths can clone your spare key to make a new one.
If you lose both master keys, your car’s computer, which controls the locking system and immobilizer, will need to be reset or replaced. This is far more expensive and time-consuming, so make sure you have a replacement on hand at all times.
Obtaining bids for replacement key costs is another vital piece of advice to keep in mind. While you may have it done by your local dealer, it’s worth checking around to see if you can get a cheaper bargain from a few auto locksmiths.
What should I do if someone steals my car keys?
The first thing you should do if your car key is taken is call the police. This will not only increase your chances of getting the key back and preventing your car from being stolen, but it will also help you lodge a claim with your auto insurance company.
Your insurance will require verification of the theft in the form of a police report before paying any claim for stolen car keys. So, when you call the cops to report your key or keys missing, make sure to ask for a copy of the police report.
After that, you should contact your insurance as quickly as possible to begin the claims procedure.
Bottom line
The loss of your car keys can put a damper on your day’s activities. Fortunately, whether you’re protected by your insurance coverage or can locate a locksmith or key replacement business, you have options for getting into your automobile and/or replacing your keys.
Compare automobile insurance providers that provide key replacement as part of their coverage if you frequently misplace your keys or want extra protection in case it occurs to you.
Are car keys covered under insurance?
If your car key is lost or stolen, you may be able to make a claim on your insurance policy to cover the cost of a replacement. Some auto insurance policies provide key cover as a basic feature, so double-check to see if it’s included in yours. This is usually excluded from third-party, fire, and theft insurance policies.
The engine control unit and alarms are normally covered under a comprehensive car insurance policy (which will need to be reprogrammed if your keys are stolen). Some people pay more than £1,500 to cover these expenses. Some providers even arrange taxis to get your spare set of keys and/or supply a car until a new set is created, which can take up to 10 days, depending on the insurance. Your no claims bonus may be honored by some insurers, allowing you to save money on your premium. If it does impair your no claims bonus, though, it may be more cost-effective in the long term to replace them yourself. On our website, you may compare automobile insurance with crucial coverage. If your insurance refuses to pay, you can appeal the decision to the Financial Ombudsman Service for free.
Check your policy to see if it covers lost or stolen keys, as some insurers only do so with an updated policy or as an add-on. In some circumstances, there is no need to pay the extra. Car key insurance, whether included in your policy or purchased separately, covers the expense of replacing and reprogramming your keys, as well as the cost of repairing the locks and immobilizer if you fear your keys have been stolen.
Does insurance cover key loss?
No, in most cases. If your keys are lost or stolen, car insurance with roadside assistance coverage can help, but the cost of replacing them is normally your responsibility. The only exception is if you have comprehensive coverage, which covers a stolen vehicle and its contents, including its keys. Other types of insurance, such as homeowners or renters insurance with personal property coverage, may cover automobile keys in the event of theft. Nonetheless, you should balance the expenses and benefits of filing a claim for your stolen keys before deciding whether it is worthwhile.
Does insurance cover stolen car if keys left?
The quick answer to this issue is yes, insurance will cover a stolen car, even if the keys were left inside of it.
What to do when you lose your car keys?
The automotive industry’s standard key is purely mechanical; insert it into an ignition cylinder and turn to start your vehicle.
If you misplace it, you can contact a locksmith, who will come to your location and make you a new key on the spot. In other circumstances, such as with an odd or vintage vehicle, a locksmith may be unable to assist. A new ignition lock cylinder and key may be required from the dealer or an independent repair shop.
Should I report lost car keys?
Even if you have backup keys, notify your insurer as soon as you realize they’re missing. Any misplaced keys could be utilized to steal a vehicle, posing a security risk to both your vehicle and your home. Insurance may pay to send someone to get into your car if you lose your keys, and others may pay to send someone to get into your car if necessary.
How much does it cost to replace car keys?
Purchasing a new key fob from a car dealer is the best option to replace one. Depending on the car, key fob replacement might cost anywhere from $150 to $600. In general, higher-end vehicles will cost more than a Nissan key fob, for example.
However, you aren’t simply paying for the flashy Mercedes-Benz or BMW key fob insignia. These cars usually have more complex security systems that thieves will have a harder time breaking into.
What is lost key coverage?
The contractor who is responsible for maintaining the keys (for example, a cleaning service) and its staff are frequently covered by lost key insurance (the specific people who come to the building to perform cleaning).
If a building custodian throws a client’s keys out with the trash, the expense of rekeying the facility and replacing the locks is usually covered under the lost key policy.
If the custodian had to leave the building unattended for a night while the keys were missing and computers were stolen during that time, the cost of replacing the computers would not be covered by the lost key coverage.
Criminal action, such as when an employee steals a key from a client’s building, is not covered by lost key coverage. (Instead, a janitorial bond can provide this protection.)
Why do replacement car keys cost so much?
Physical vehicle keys and remote fobs are, as previously said, small electronic devices. As a result, the key contains circuitry as well as a battery that powers the key’s functions. As a result, the replacement key might be extremely costly on its own.
How do I get a replacement insurance key?
The claim settlement process is identical to changing the lockset at a conventional car workshop or from an authorized OEM. The following is the procedure for filing a claim for a key replacement:
For compensation, submit the invoice or bill for the replaced remote-lock system to the insurance carrier.
Your claim will be compensated based on the cost of replacement, up to the maximum amount insured.
Will insurance cover an unlocked stolen car?
Auto insurance coverage, in general, do not cover goods stolen from a car, whether the car was secured or open. However, some insurance firms do offer car theft insurance plans. These plans cover both stolen vehicles and stolen personal items in the vehicle. Car insurance normally covers theft of vehicle parts under comprehensive coverage, as long as the policy allows it. However, after-market items, such as stereo equipment installed later, are usually excluded.