Counter to the ‘Insurance Will Replace My Key’ Objection

Key replacement is one of those odd ancillary products that either sells like gangbusters or falls flat every month with few being sold. It’s not that F&I doesn’t put their best foot forward to sell it...rather it’s the customer perception that somehow they already have the coverage through their personal car insurance policy.

When buyers think they can get something OUTSIDE of F&I, it’s hard to get them to change their mind.

Here are the main points to remember when the buyer says his insurance will replace the key…It could be part of their comprehensive coverage (like their windshield) but that doesn’t mean it’s free. Many insurers will only replace these expensive digital key fobs if the key was destroyed or damaged as a result of a total loss of the vehicle. So leaving the key at the bar last night doesn't qualify.

Also, it may be less expensive to pay for the key rather than file a claim depending on the deductible. If your deductible is $1000 but the key costs $400, filing a claim is pointless.

Key replacement, like truKey, makes this process easier and without a deductible. Most of us will lose a key at some point, so why not make it an easy product for every buyer to take advantage of?

Preload it on every new car. If positioned right by sales, it would be an easy boost to front-end margins. Your new car buyers don’t have to even think twice about filing a worthless claim against their insurance and they will know they can get a fast replacement without the huge cost of the key or the labor cost to reprogram everything.Definitely offer on every lease. There is not one driver who wants to add $400-600 to their recon fees at turn-in because they lost their key. All those potential fees are bad enough without adding that to the mix.

Click here to learn more about how truKey can be preloaded to every new car for extra profit and great peace-of-mind for the buyers who most certainly do NOT want to fight with their insurance to replace a key.