Car Key Insurance Helps You Recover The Cost of Key Replacement
by Mashum Mollah Insurance 11 September 2017
If you have owned a car for quite some time, you know how tricky car keys can be. They seem to disappear right when you need them, and especially if you are in a hurry, and God forbid if you happen to lose or misplace it! It can bring your life to a standstill. Being unable to access your car key does not only leave you stranded, but it can also pinch your pocket because arranging for replacement keys from the dealership can cost you a decent sum. Just as technology has improved the quality, security, and performance of vehicles that delight owners, it has also compounded the problem of lost keys.
Earlier, it was cheap to replace car keys, and ordinary locksmiths could do it for you. In the new breed of vehicles that use sophisticated technology and upgraded features along with smart key technology for better security, replacing keys have become quite expensive. When computer programmed chips that control locks, immobilizers, alarms, and ignitions go wrong, it involves a significant expenditure to set it right. Finding the right car key repair company is one way of lowering the cost of key replacement. Another way is to seek insurance coverage for car key so that you need not pay from your pocket for a replacement key. In this article, we will discuss the aspect of car key insurance to understand what you could expect from it.
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Local locksmiths offer specialized services in replacing and repairing car keys regardless of its sophistication. These companies have specially trained experts who are capable of handling all kinds of car keys or ignition keys to re-program it and make it functional. Even if it comes to replacement, they can do it with the assurance of satisfying customers completely. They can do it fast that saves time. Above all, the cost is almost half or even less than what you would spend for getting it from the dealership while the functionality is comparable with the best.
Replacement key insurance
Insurance policies are available that protect you from the expenses in the event of car key replacement. Claiming against the policy would save you from spending from your pocket, which is a concern when you need replacement keys. Having the right plan gives you the confidence of tiding over the crisis quickly without having to look for alternatives. However, all policies are not alike and have different levels of coverage that you must take note of at the time of buying the policy. As it happens for insurance policies, the coverage is commensurate with the cost of the policy.
Car key replacement can be a part of the car insurance policy that you buy, and in some cases, insurance companies offer it as an optional extra while some other policies do not have any consideration for it. Select the proper coverage because in some vehicles with keys as well as keyless devices, it is mandatory to get the replacement from the dealership, which can be quite costly.
The coverage that you get
In general, replacement key insurance policies cover the cost that you pay for replacement keys and locks together with the charges you pay to the locksmith. In some plans, the cost of the hired car and the sum that you pay for transporting the vehicle to the locksmith are also included. Besides the amount you can claim, policies differ in the aspect whether excess is applicable, and if making a claim would affect the no claim discount. Review the policy document well to select the coverage that would be best for you.
Almost half of the vehicle insurance policies include the aspect of key insurance in it. About 22% plans do not have any provision for car key coverage while 28% charge extra for covering keys. The risk of key theft is the primary reason for coverage as 87% policies mention it. The coverage becomes void if you leave the keys in the car and walk out leaving it unoccupied while the car remains unlocked. Carelessness is no excuse for taking insurance coverage. Hence, such incidents would result in your paying from the pocket.
Reduce the chances of theft or losing car keys
Take extreme care of the car keys so that you never need any replacement, although whether or not you need key repair remains uncertain. At least you can prevent the theft of keys by not leaving it in the glove box as the majority of instances on record point out. Even while you are at home, never leave car keys at open places in full view of others. Avoid keeping all keys in the same place, and do not insist on collecting a duplicate set of the key when buying a car.
While insurance might compensate the cost, there is no way that you can reduce the inconvenience that you have to face.