Car insurance: is it worth it?

What is a car key cover?

You can buy car key cover – also known as car key insurance – as an extra when you buy car insurance to cover a new set of car keys if your current car keys are lost or stolen. Depending on the car insurance policy you choose, you may already have key coverage included in your policy, but if you don’t, you’ll probably have to pay extra if you want to add it to your policy.

What does car key insurance cover?

The exact car key cover you have will likely vary by supplier, but at the very least, you should expect to be covered if your car keys are lost or stolen. Below we share what most standard car key insurance policies cover and what they won’t.

What to do if you lose your car keys

If you can’t find your car keys and you have car key insurance, you should call your insurer to find out what you need to do to make a claim. If you have breakdown cover, you may also want to contact your breakdown service provider as losing your car keys may be included in your cover. Alternatively, if you find a spare key or decide not to look for one, you may want to contact a locksmith who will be able to help, but this may incur additional costs and may be more expensive than a car key cover.

How much does a car key cover cost?

Car key insurance may already be included as standard in your car insurance policy, but if it isn’t, you may be asked if you want cover at a small extra cost. In the following table, we share some examples of comprehensive car insurance providers that provide cover for car keys and the amount of cover you can expect from each provider. It can be difficult to estimate the cost because the vast majority of comprehensive car insurance policies include car key coverage within their policies, and the cost can vary greatly depending on the make and model of your car, as well as the type of key.

Full comprehensive car insurance provider	Annual cost	Lost or stolen key mask	Cover for spare keys/locks	It covers the cost of locksmith services	Claims affect the No Claims Discount (NCD)
Aviva	Included as standard	Up to the market value of your vehicle	That	That	Not
Admiral	Included as standard	Up to £500	That	That	Not
LV=	Included as standard	Unlimited	That	That	That
A straight line	Included as standard (Essentials policy does not include cover for lost or damaged keys)	Up to £1000	That	That	That (for lost or damaged keys) Not (for stolen keys)
AA	Included as standard	Up to £1500	That	That	That

Do I need a car key cover?

If replacement car key coverage isn’t already included in your car insurance policy, you may be wondering if it’s worth paying the extra cost. Here are some things you should consider first before buying a car key cover:

• Is key replacement cover included in your car insurance? – Before buying a car key insurance policy you should check that it is not already included in your car insurance policy, especially if you have a comprehensive comprehensive insurance policy as it is common for this to be included as standard.
• Is the key cover included in your breakdown cover? – If you have a car breakdown package, you may already have car key cover included in the package and therefore taking out key insurance will mean you are paying for extra cover that you don’t need.
• Can you afford to replace lost or stolen car keys? – The cost of replacing car keys in case of loss, theft or damage varies depending on the age and type of your vehicle. According to Checkatrade, the average cost of replacing a manual car key is £160 compared to an average of £320 for a remote car key. If you have an expensive vehicle, you can expect to pay more than this, with the average replacement key for a Range Rover Sport costing £595 and a replacement key for a BMW i8 averaging £1,000. A car key cover can be a good idea if you can’t cover the cost of replacing or repairing damaged keys.

Pros and cons of car key insurance

Advantages of car key insurance

• A free vehicle may be covered until you get new keys
• 24-hour emergency line
• Depending on your coverage, you may be covered for replacement car locks and car keys

Disadvantages of car key insurance

• Claiming your insurance may affect your no-claims discount
• Depending on your car insurance policy, this may be an additional cost if it is not included as standard
• You may not be able to submit a claim if you do not provide the reference number for the stolen keys

Is a car key cover worth it?

If car key cover is included in your car insurance policy, this can be a useful extra in case your car keys are lost or stolen. However, your car key insurance is unlikely to cover the general wear and tear of your keys so you need to be sure to take care of your keys to prevent damage associated with general use.

Ultimately, the main reason for having a car key insurance policy is to cover the cost of replacing a set of car keys. Replacing replacement car keys can be expensive and often run into several hundreds of pounds, so it may make sense to opt for a car key insurance policy. It’s worth checking your car insurance cover as most have limits on the amount you can claim for replacement car keys.

How to buy car insurance with key cover

When looking for car insurance that includes key cover, you will need to check that your car insurance policy includes standard key cover as some providers charge extra for it. One of the quickest and easiest ways to compare car insurance is through a comparison site such as Quotezone*. Comparison sites will compare multiple car insurance providers at once to find you the best deal for your car. We teamed up with Quotezone* so you can search and compare quotes from over 120 UK car insurers. However, you should remember that not all comparison sites are complete marketplaces, which means you may not always get the best deal, especially as some insurers are not featured on comparison sites.