Back in the day, car keys were simple. If you lost it, you would head over to your local locksmith and have a duplicate made for a cheap price. However, the easier it is to copy a key, the easier the access for thieves. Consequently, keys have undergone many changes. These days, transponder keys and fobs are common. Of course, as expected, these keys are also much more expensive to replace due to their exclusive nature (many times, you need to go to the dealer to get a spare key made).

With this technology quickly spreading to lower-priced cars, we have to wonder; will a typical garage insurance policy cover these keys? Let’s take a look at a possible scenario:

You store all FOB’s together in a locked cabinet overnight in your shop. The next day, you show up to find that the shop has been burned or the cabinet has been destroyed. Let’s estimate that each fob costs between $150 and $500. If you are holding 20-30 fobs in your shop, that is an estimated $9,000 worth of keys!

Will your garage insurance policy be able to cover this loss? Surprisingly, most unendorsed policies do not pay for customer’s goods in your care, custody or control. If you want to avoid paying for such a large loss in the future, it is best to ask our experts at Wolpert Insurance! We would be happy to protect your business with the proper garage insurance policies, including protection for destroyed FOBS and much more.

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