Does Insurance Cover Lost Keys?

Most possessions of value require a key to use. You need a key to get into your home, or to operate your car, after all. If you don’t have the keys, then you are likely to find yourself in a tricky situation. Missing keys might mean that you need to alert the authorities, pay for a locksmith or pay to replace the locks entirely on the item in question. This is likely to be expensive, not to mention very inconvenience. Therefore, you might wonder whether your homeowners insurance or auto insurance will pay to help you replace missing keys.

On one hand, yes, your personal insurance policies might provide some assistance if you have issues with keys. However, this coverage is often very specific, and is not all-encompassing in the face of every potential loss scenario. Let’s take a closer look at the finer points.

No, Your Policy Will Not Pay for Lost Keys

Simply losing your house keys or car keys won’t qualify you to file a claim against your requisite insurance policies. After all, it’s your responsibility to keep up with your keys, and in most cases, simply losing them is something you could have avoided. Therefore, since your homeowners or auto policies will only cover you in cases of unavoidable losses, you won’t be able to turn to your benefits for assistance under the circumstances.

There Are Situations Where Policies Pay for Key or Lock Damage

Even though your personal insurance plans might not cover the expenses resulting from lost keys, they might still be able to pay for other potential losses. For example, if a covered peril causes losses or damage to keys, then you might have recourse available through your insurance.

Suppose that someone breaks into your home, and in doing so damages the locks on your front door. Of course, your homeowners insurance will pay for the personal possessions that got stolen in the break-in. However, it will also cover property damage resulting from this unlawful entry into your property. Therefore, if you need to replace the locks in the home, then these expenses will often be covered by your plan.

Additionally, certain plans include lockout services as part of their benefits, though these services are not consistent across all insurance providers. For example, your auto insurance plan might include a roadside assistance or lockout service that can come to your aid if you ever find yourself locked out of your car with the keys in the ignition. Still, this coverage is separate from any of your policy’s physical damage insurance.

If you want to add lockout and security benefits to your personal insurance policies, just ask one of our agents about the perks of doing so. In the end, for a small additional cost, you might find that your plan will offer a lot of practical assistance in case you ever find yourself in a lurch.

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