Does Your Gap Insurance Cover theft with use of the Keys?

Will your Gap Insurance Policy cover theft with use of the Keys?

A question we are frequently asked is will my gap insurance policy cover me if someone steals my vehicle with the use of the keys?

This is because as security systems become more and more advanced and more often than not it is nearly impossible to steal vehicles without the use of the keys.

In fact a frightening aspect is that 83 % of all vehicle stolen are now taken with use of the keys. So with this in mind it is quiet natural to ask if your gap insurance policy would still cover you?

Unfortunately the answer of gap insurance being able to cover you is not as straight forward. After all just like your own motor insurance company there will be instances where you will be covered and instances where you will not be covered.

As you know your gap insurance policy is designed to run along side your own motor insurance and mirror their terms and conditions, ( if brief if your own motor insurance company will settle then your gap insurance policy will too etc ).

For example if you leave your keys in the ignition on a beautiful sunny day, with the windows door and sunroof open anf then decide to take a stroll to return 24 hours later to find that your vehicle has now been stolen then unfortunately your own insurance company would class this as negligent behaviour and would not be able to settle any claim.

As your insurance company have therefore not given you indemnity for the claim your gap insurance policy would not be able to settle either.

But conversely if someone broke into your home, stole your keys and then without your knowledge or consent stole your vehicle then your own insurance company would settle and therefore your gap insurance policy would to.

So to summersie will your gap insurance policy cover theft with use of the keys, well yes and no, it will depend upon the circumstances.

Both comments and pings are currently closed.

2 Responses to “Does Your Gap Insurance Cover theft with use of the Keys?”

  1. [...] See the article here: Does Your Gap Insurance Cover theft with use of the Keys? | Easy … [...]

  2. [...] insurance to drive or ride your vehicle or bike is covered on your policy. This goes back to the give indemnity clause we have already spoken [...]

Powered by Easy Gap