The Importance of Securing Keys at a Dealership: Lessons from a Maryland Dealership’s Misfortune

October 24, 2023
3 min read
Front view of the car dealership that was robbed., image

The Importance of Securing Keys at a Dealership: Lessons from a Maryland Dealership’s Misfortune

The alarming incident at a Maryland dealership where thieves made away with every single car key, costing over $100,000 in key replacements, is a wake-up call for auto businesses everywhere. The implications of this theft go beyond just the loss of keys; it underscores the absolute necessity for dealerships to ensure the safety and security of their assets. Here’s why securing keys is of paramount importance for every dealership.

Financial Impact

Replacing a car key is not as simple as cutting a new one; modern car keys are technologically advanced, often coming with integrated electronic chips for security. Replacing them can be expensive, not to mention the added costs if vehicles are stolen using the lost keys. In the case of the Maryland dealership, the financial repercussions were undoubtedly significant.

Operational Disruptions

The theft of all the car keys means the dealership can’t show or test-drive vehicles for potential customers. This can lead to lost sales, interruptions in daily operations, and damage to the dealership’s reputation. Fortunately, the article states enough keys were able to be recovered so the business could continue selling cars.

Insurance Complications

While insurance might cover some of the losses, premiums can surge after such an incident. Moreover, there might be complexities regarding claims, especially if negligence in key security is proven.

Loss of Customer Trust

Customers trust dealerships with their personal information, and always with their own vehicle keys during service appointments. A breach in security can erode this trust, making customers think twice before doing business with the dealership in the future.

Prevention is Better Than Cure

It’s crucial for dealerships to implement rigorous key security protocols:

Secure Key Storage: Utilizing an electronic key management system such as the iSafe Pro that tracks who accesses which key and when.

Regular Audits: Frequently audit key inventory to ensure all are accounted for.

Restricted Access: Limit access to keys to a few trusted employees and use security systems like cameras and alarms to monitor key storage areas.

Employee Training: Ensure employees understand the importance of key security and the protocols in place.

Backup Plans: In the event of a security breach, have plans in place to re-secure the inventory quickly. This might include programing new keys for every vehicle, increasing surveillance, or temporarily moving inventory.

The Maryland dealership incident serves as a potent reminder of the vulnerabilities auto dealerships can face. While the loss of keys is a severe issue on its own, the ripple effects can be even more damaging. For dealerships, the security of keys should be a top priority, not just to protect their financial assets but to maintain their reputation and the trust of their customers.

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