Locked Out: Does Renters Insurance Cover Locksmiths?

Lady sitting outside apartment door, locked out, talking on phone.

You paid good money to fill your home with high-quality items. However, what if you had to pay even more just to gain access to them? 

When renters accidentally lock themselves out of the house and need to call a professional, they typically have one big question: does renters insurance cover lockouts? Unfortunately, the answer in most cases is no, your renters insurance will not cover the cost of a locksmith. 

Keep reading to discover what is and is not covered and what to do when you are locked out! 

Does Renters Insurance Cover Locksmiths? An In-Depth Look 

If you end up getting locked out of a home you rent and must call a locksmith, the good news is that your renters insurance should cover the costs needed to replace your key. The bad news is that this is the only lockout-related cost likely to be covered by your policy

There are many other costs associated with calling a locksmith, including the cost of basic service and the cost of replacing your lock. In some cases, whether your coverage will pay for a replacement key depends on how it was lost. For example, if you simply lost or misplaced the key while traveling rather than it being stolen or damaged, your renters insurance may not pay for the key replacement. 

To File or Not to File: Weighing the Options for a Claim 

In many cases, it may not be worth it for either new renters or experienced renters to contact their insurance company in the event you need a locksmith. That is because you will not save much money upfront and may ultimately pay much more money in the long run. 

Your insurance company will likely just pay for a key replacement, with all other costs being out-of-pocket. As for that replacement, you will still have to pay your deductible first. To make matters worse, your insurance carrier may increase the cost of your monthly premium after you file a claim. 

Should you end up locked out of your home, it is typically best to pay everything out of pocket rather than filing a claim. This will keep your premiums low and potentially save you the time you would otherwise spend speaking with your insurance carrier. 

Protect Your Home with the Best Renters Insurance 

Now you know whether your renters insurance will cover the cost of a locksmith. However, do you know where to find the kind of coverage that can help you save money throughout the year? 

Here at InsureOne, we specialize in providing renters just like yourself with the quality coverage you deserve. When you are ready for the peace of mind that comes from knowing your most precious possessions are protected, we are ready for you to come get a quote online. If you would prefer a personal touch, you can always pick up the phone and give us a quick call at 800-836-2240. If a face-to-face conversation sounds best, you are always welcome to visit one of our nearby offices at your earliest convenience!