Losing your car keys It’s a type of situation everybody wants to avoid at all cost. But sooner or later, such a situation can happen with any one of us. When people lose their car keys, the very first thing they try to understand is whether or not their insurance covers the cost of replacing. Typically, standard car insurance policies don’t cover lost keys, but there are exceptions…
One thing you need to understand is that car insurance itself is intended to protect you from financial losses related to damaging your vehicle or someone else’s vehicle. There are different types of insurance coverage: liability, collision, and comprehensive. However, not all of them include coverage for lost or stolen car keys.
If your car keys are lost, your basic insurance policy won’t help. Car insurance covers vehicle damage or injuries but not car keys. Think of keys as personal belongings. Almost no insurance company will cover them being stolen, damaged, or lost because that’s a different type of insurance that actually targets vehicles. However, some comprehensive insurance plans may still help under specific conditions.
When Are Keys Covered?
If your keys are stolen as part of a stolen car claim, comprehensive car insurance may cover the replacement cost. But if you simply misplace them or they are lost on their own, insurance doesn’t cover that. In some cases, if the key fob is damaged in a covered incident like fire, the insurance company may include it in your insurance coverage.
Remember that car key replacement in Houston can be time-consuming, so roadside assistance coverage is often the best bet for help with keys. Many insurers offer this as an optional service. While roadside assistance won’t cover lost keys directly, it often includes locksmith services or towing if you’re locked out. Keep in mind this is a separate program from standard auto insurance coverage.
Does Insurance Cover Lost or Stolen Keys?
Lost keys are almost never covered by standard car insurance. This applies to nearly all car insurance policies. Replacing a lost car key can cost several hundred dollars, especially for smart key fobs. Filing a claim for stolen car keys is only valid if the theft occurred during a covered incident.
In rare cases, insurers may offer key replacement plans as an add-on to your car insurance policy. These plans typically include key fob replacement and may also cover locksmith services.
Deductibles and Claim Process
Whether you’re stuck in an emergency with a lost or stolen key, the deductible plays a big role. The deductible is the amount you must pay before your insurance kicks in. Think of it as the following: if your deductible is $200 and the cost to replace the key is $100, your insurance won’t pay anything.
You must also consider whether filing a claim is worth it. Making a claim for a lost car key might increase your insurance rates over time. You should only file a claim if the replacement costs exceed the deductible and the situation qualifies under your car insurance coverage.
Roadside Assistance Plans
Roadside assistance coverage is often your best option. It doesn’t cover lost keys directly, but it does provide support if you’re locked out or need to tow your car. Many major insurers offer this as an affordable add-on.
Roadside assistance covers lost key situations in the form of services. For example, they may be able to help you find a locksmith or pay to tow your car to a repair shop. However, they don’t cover lost car key replacement itself.
Car Key Replacement Costs
Key replacement costs can be different case to case. It all depends on the type of key you have. Basic keys can be copied cheaply, but if you have a smart key fob it can be really expensive to replace it especially when you don’t have time and are stuck in a city far from your home. Key replacement costs can range from $50 for a basic key to $500+ for advanced key fobs.
Since these keys can cost so much, it’s important to consider whether you want insurance coverage for them or you simply will contact a regular car locksmith in Houston and sort everything out with them.
Some insurers offer a vehicle protection plan that includes car key coverage. That’s not typical to all insurers but it’s definitely worth checking out before you apply. It’s always good to have some small bonuses, isn’t it? Such plans usually are separate from traditional car insurance policies and come with their own terms and deductibles. That’s why it’s extremely important to know all the terms in advance.
Should You Buy Additional Coverage?
If you tend to lose your keys here and there or have a past track of losing your keys multiple times, it may be worth considering some extra insurance just to feel safer. You can always ask your current insurance company if they have specific coverage for lost or stolen keys.
If they don’t offer such insurance, you can search for a different company who does such kind of insurance and provides it as a part of the package. They may sell it as a separate key protection add-on or it can be included into a package deal. Not all insurers offer this, but it can be valuable if your keys are lost or stolen frequently or are expensive to replace.
Will Insurance Cover Lost Car Keys?
- Most car insurance policies do not cover lost car keys.
- Comprehensive coverage may help if keys are stolen during a covered event.
- Roadside assistance can help you get back into your vehicle but won’t pay for a new key.
- Renters or homeowners insurance might provide coverage under personal property if keys are stolen.
- You may be able to purchase add-on insurance for key replacement.
- Always consider the deductible and whether filing a claim is worth it.
- Car key coverage is not standard, so ask your insurer if you want to be protected.
Car insurance doesn’t cover every situation. If you lose your keys, the insurance will depend on your coverage type and whether you have roadside insurance.
