Does auto insurance cowl turnkey automobiles? – Bankrate.com
You come home from work one evening and discover that a key has scratched your beloved car. It's an annoying act of vandalism, and while it can only cause cosmetic damage to your vehicle, the cost of repair can be expensive. Car insurance companies can provide coverage for keyed cars and other acts of vandalism. However, it is recommended that you have a thorough understanding of what is or is not covered by your policy before facing any such situation. Knowing your insurance limits and deductibles in advance can help you decide whether or not to file a claim for a keyed car.
Does the insurance cover a car with a key?
If your car policy provides comprehensive coverage against theft, vandalism and weather-related damage, you can make a claim when your vehicle has a key. This means that if you only have liability insurance, your car with the key will not be covered by your car insurance.
While it may seem insignificant, keyed vehicles are often costly to repair. In many cases, the cost can be $ 1,000 or more. You may be able to find the culprit who covers the damage, but if that is unlikely, working with your auto insurer can be the way to get your vehicle repaired. However, depending on the excess you selected when you created your car policy, you may not be able to claim if your excess is higher than the cost of repairing your vehicle.
Does making a claim on my car with a key affect my premium?
An important consideration before filing a claim is how this can affect your premiums. It's not surprising if your car insurance costs go up after you make a claim, no matter how minor the problem. Filing a key car claim can increase the cost of your premiums when your policy is renewed, although they are unlikely to be as high as they would be after an accident.
Your annual premiums are most likely to increase if you report more than one claim in a short period of time. If you've put a claim on record in the past two years and then submit another, your premiums have the highest chance of being affected. Insurance companies compensate the costs paid in the event of a claim with a higher premium, even if the damage is minor. So if you are trying to save money by letting your auto insurer pay for key car repair costs, keep in mind that you may have to pay a higher premium over the next several years.
What do I do if someone keys my car?
The process of filing a complaint in the case of a car key is similar to that of any other damage. Some of the steps to take include:
- Document the incident by time and place and take photos and videos
- Report to the police
- Inform your insurance company if you have fully comprehensive insurance
- Send your vehicle to a workshop for inspection
If you choose to make a claim, your auto insurer will either reimburse you for the cost after you've paid the mechanic, or the insurer can pay the mechanic directly. Regardless of this, the payment will be settled by your insurer minus your deductible. For example, you would have to pay out of pocket the difference between the amount you owed the garage and the amount your car insurer paid to cover your deductible.
frequently asked Questions
When should I file a claim for a car with a key?
It makes sense to claim a car with a key if the cost of repairing the cosmetic damage is higher than your excess. Otherwise you can pay for the repair out of pocket. In addition, you must have full policy coverage for the vehicle entered for a vandalism claim.
How much does it cost to fix a car with a key?
The cost of repairing a scratch depends on how far and deep the damage has penetrated. If it only scratched the top coat then the cost is the least, as opposed to the scratch damaging the color coat and base coat and reaching the bare metal. If the color of your vehicle is unusual and not readily available, or if the scratch extends to more than one panel, expect higher costs.
Does collision insurance pay for a car with a key?
Collision covers damage to your vehicle caused by a collision with another vehicle. Comprehensive insurance usually pays off for a vehicle with a key, as this is considered vandalism.