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Is Key Cover for Cars worth it?

Is Key Cover for Cars worth it?

Anyone who’s ever lost a set of car keys will know just how much inconvenience and expense it can cause. As around one in four drivers has experience just such a loss, it’s a very common and costly mistake to make, but  Key Cover could protect you from having to pay out.

And it’s not just simply losing keys due to your own behaviour that you need to worry about. Recent research by Lloyds Bank insurance shows that one in twenty motorists have been the victims of car key theft.

The cost involved with replacing car keys can be astronomical; as modern car keys have grown more sophisticated in their functionality, the charge for getting a new set sorted has also grown. Research by key recovery specialist Keycare shows how much you would have to spend varies significantly from car to car.

Keycare says it would cost a whopping £780 to replace the keys of a VW Polo, 2009. This drops to £480 for a Renault Clio, 2002, and £250 for a Ford Galaxy, 2003.

The popular Fiat Punto is one of the cheapest types of car to get a new set of keys for, at £168.

The key cover available

Of course, they best way of avoiding any unnecessary cost is to keep a firm grip on your keys in the first place. But if you do lose them, all is not lost and there’s a chance that you’ll be covered by your motor insurance policy.

However, not all policies include financially protecting you against losing your vehicle’s keys as standard; with many you have to buy key cover as an ‘add on’.

In recognition that key loss is such a common and potentially costly problem, here at Policy Expert we only offer policies which provide key cover. We also make sure they include multiple fob replacement, which is especially useful if you have a number of young adult children insured on a family policy!

How to get car key cover

There are different levels of key cover available.

Cover that’s included as standard may only be a basic level of cover, but increasing it might only cost a little more.

The best policies not only cover you for the cost of a replacement key which is lost or stolen, but also if you accidentally lock your keys in the car, and will arrange for the situation to be sorted wherever you are.

The best policies may also cover the cost of replacing locks as well as keys.

Is it worth it if I have to pay an excess?

It could be that due to the excess on your cover, claiming for lost, stolen or damaged keys may not be worth it.

Look out for policies which include car key cover don’t require an excess to be paid.

The best policies provide unlimited cover, but many will set a claim limit of up to £1,500.

What to look out for

As with most types of insurance, there are policy clauses which are common to key cover which you should be aware of.

Many insurers will require you to attach a specific key fob to your keys in case they are lost so that they can be potentially returned to the insurer if found.

You would, in all likelihood, have to wait for 3 days before your insurer will classify your keys as ‘lost’ and put into action the process to get you a new set.

If you lose your keys away from your home address, the insurer may not cover the cost of recovering your vehicle (you might need additional breakdown cover for this to be the case). The best policies will, so it’s worth checking if you want it added.

Policy Expert

Policy Expert is an online Insurance broker, dedicated to helping customers find the insurance policy that’s right for them, whether its for their car, home, pets or travel. For more information, you can call our experts on 0330 0600 600 or visit for more ways to reach us.


Published 1 June 2014