Car key cover – your questions answered
11.04.24
By
Tom Head
This content was factually correct when written but may not reflect current developments or information.
Losing your car keys is inconvenient to say the least, but if they’re stolen, it can be even more frustrating. The good news is that car key cover can help pay to replace your missing or stolen keys; here’s how it works.
What is car key insurance?
Policies cover the cost of replacing your car keys if they’re stolen or lost, depending on the cover you take out. Some car insurance policies include car key cover as standard, while others offer it as an add-on for an additional fee.
Key insurance from Alan Boswell Group covers both your house and car keys.
Does breakdown cover include car key cover?
Some breakdown policies cover car keys, but what’s covered may be limited. For example, policies may only cover keys you’ve locked in the car and won’t pay to replace stolen or lost keys.
What does car key insurance cover?
Cover varies by insurer so don’t assume all policies are the same. While policies are designed to cover stolen keys, some policies will cover you if you lose them, too.
Policies will limit how much you can claim for replacement keys. On average, this is normally up to £1,500.
Broadly, policies can cover the cost of:
replacement keys (up to an agreed limit);
reprogramming any car security features (for example, an immobiliser);
a hire or courtesy car while you wait for your replacement keys;
public transport or taxis if a hire or courtesy car isn’t provided (this may be limited to a specific amount per day).
Insurers usually include 24/7 access to a helpline, so you can get help whenever you need it.
What does car key cover exclude?
Your insurer will clearly set out any exclusions and conditions you’ll need to follow if you want to make a claim.
While policies vary, you typically won’t be able to claim for:
stolen keys if you don’t have a crime reference number;
damage to the lock (only your keys are covered);
damage because of wear and tear to the key;
keys that have been lost by someone outside your household (for example, you won’t be covered if a friend borrows your car and then loses the keys).
How does car key cover work?
If your keys have been lost or stolen, you should call your insurer and they’ll ask you for the details.
If your claim is accepted, your insurer will cover the cost of replacing your keys and provide you with any other benefits your policy comes with (such as a courtesy car).
If your insurer pays for a hire car or public transport, bear in mind that you may have to use a particular hire car company and keep any receipts.
Is there an excess to pay for car key cover?
Whether you need to pay an excess depends on your insurer and policy terms.
Will claiming on car key insurance affect my no claims bonus?
This also depends on the terms set out by your insurer, so it’s well worth checking your policy’s small print.
If a car key claim does impact your no claims bonus, remember that it’s likely to mean your premium increases at renewal because your discount has been reduced.
What are the benefits of car key cover?
Replacement car keys can cost a lot of money, depending on what type of key it is. If you’ve got a classic car with older style traditionally cut keys, these are fairly simple to replace and cost relatively little. Keys that rely on technology (such as transponder keys or smart keys) could set you back around £300. In some cases, the cost to replace particularly advanced keys could exceed £1,000.
How much does car key cover cost?
Whether you buy a standalone policy or add it as an optional extra to your car cover, costs range between £10 and £35. A policy from Alan Boswell Group is £15.
Is car key cover worth it?
If you’re offered car key cover as an add-on, it’s not always clear how beneficial it might be. On the one hand, policies are relatively inexpensive compared to the cost of a replacement car key (depending on the type of key). But if you rarely lose things, you might never need to claim – in which case, it’s a feature you’ve paid for but haven’t benefitted from.
Need help with your insurance?
At Alan Boswell Group, we offer key cover for your car as an optional extra to your car insurance. If you’d like to find out more about how our policies can help you, speak to a member of our team.
Make an enquiry
FAQs
Does comprehensive car insurance cover car keys?
Some comprehensive car insurance policies do include car key cover. If you already have comprehensive cover, check if it’s included.
What should I do if I lose my car keys?
If you’ve got car key insurance and loss is covered, call your insurer. They’ll be able to tell you what to do if you want to make a claim for a replacement.
What should I do if I’ve locked my keys in my car?
If you know you’ve locked your keys in the car and you have breakdown cover, you should call your breakdown service in the first instance. They should be able to let you into your car and retrieve your keys.
If not, you’ll need to call a locksmith for help. Car key cover won’t normally cover instances like this.
How can I get a new set of car keys?
If you have car key cover, your insurer should be able to replace your lost or stolen car keys (depending on what your policy covers).
If not, you should call a locksmith to see if they can help or call the dealership you bought your car from. Newer cars tend to have more technologically advanced keys, and sometimes, replacements can only come from the manufacturer as they might need to be programmed specifically for your car.
Car key cover doesn’t cover extra sets or spare keys.
How long does a new set of car keys take?
A replacement key can take several days or a couple of weeks – it will depend on how complex the key is and how quickly it can be made or cut.
How much does a new car key cost?
The average car key costs £300 to replace but it will depend on how modern or complex the key is.
Mechanically cut keys (for older cars) are the cheapest and simplest to replace. Newer keys that rely on advanced technology could cost in excess of £1,000 to replace.
Are car keys covered on home insurance?
No, home insurance policies won’t normally include car key cover, but check your policy first rather than assume it does. However, if you purchase a car key policy from Alan Boswell Group alongside your car insurance, we cover both your car and house keys.