Why you need locks and keys insurance
If you’ve ever been unlucky enough to lose your keys or have them stolen, you’ll know just how stressful it can be. Not only are you unable to get back into your home but you've got to then spend time and money hiring a locksmith to carry out a lock change and provide key replacement.
It’s equally as frustrating when you go to put your key in your front door, only to find the lock won’t work. Often this is down to general wear and tear but can also happen as a result of damage if an intruder tries to enter your home. The latter can be particularly upsetting and understandably, make you feel unsafe.
Whilst you’re bound to feel a range of emotions when you lose your keys or find your door lock has broken, everything can feel a little easier when you have locks and key insurance. Here we’ll discuss what a typical policy includes, the benefits of lock and key replacement insurance and how to secure the best cover.
What is locks insurance and keys insurance?
Locks and keys insurance often goes by several different names i.e. key insurance, key cover, key protection, key security. Essentially, it’s designed to help you with the cost of recovering or replacing your house keys if they are lost or stolen. Some house key insurance policies will also cover the cost of getting back into your home if you’ve been locked out and you’re stuck outside.
A good key insurance policy will include cover for your door locks too. This means, if a lock has broken or been damaged by an intruder trying to get into your property, the lock repair or lock replacement will be covered by your insurance.
Benefits of lock and key replacement insurance
As we said at the beginning of this post, losing your keys or having them stolen can be very upsetting, especially if you have no other way of getting back into your home. Having lock and key replacement insurance will give you the peace of mind that if your keys are lost or stolen, or your door lock is broken or damaged, you will be able to get back into your property quickly, and at a limited cost. It’ll take away a lot of the stress and for many, that itself is priceless!
Locks and keys insurance also protects against the cost of calling out a locksmith to repair or change locks and cut new house keys. Unfortunately, emergency call-out charges can be very expensive, especially if required at an inconvenient time, such as the middle of the night or at the weekend. Locksmiths can charge whatever they like, as they are not regulated by any sort of official industry body. There’s no such thing as a cheap key replacement.
You’ll find it much more cost-effective to pay a small amount per month or annually to cover your keys and locks, than pay the emergency call-out charge for a locksmith and their lock change / key replacement service on top.
Finally, having cover for your keys and locks will save you a lot of time dealing with the inconvenience of lost house keys. Instead of having to spend time researching locksmiths in your local area and comparing quotes, you’ll simply be able to ring up your insurance provider and they will organise one of their trusted locksmiths to come out to you.
A good home cover provider will give you access to their 24/7 helpline. This means you’ll be able to contact them at any time of day or night and get the help you need to get back into your home quickly and safely.
Tips for buying house key insurance
Now you know the benefits of locks and key insurance, here are a few tips to make sure you secure a good policy at a fair price…
Check you’re not already covered - Some home insurance policies may include key cover as standard. It’s worth checking your policy to see if this is the case. You don’t want to pay for the same thing twice!
Can you buy additional cover? - Your home insurance provider may offer locks and key insurance as an add-on to your existing policy, for an additional monthly or annual cost. This may work out cheaper than buying a separate policy from another provider. Do a price comparison just to be sure.
Check what you’re covered for - It’s important to find out exactly what you are covered for. As standard you should be looking for lock and key replacement, getting back into your property if you are locked outside and access to a 24-hour emergency helpline.
How much cover is available? - Equally as important is finding out the financial value of your cover. Check how much coverage you will receive for lost / stolen keys, plus lock change, door lock replacement and other locksmith charges.
Is there any excess to pay? - Find out whether you will be required to pay any excess when you make a claim for lost or stolen house keys or a damaged door lock.
Read the small print - It’s just as important to know what you’re not covered for. For example, some policies may not cover stolen keys if you do not have a crime number from the police. Others may not be willing to offer door lock replacement if only a partial door lock repair is required. It’s worth checking to see who is covered by the policy too. You may not be able to make a valid claim if your keys are lost by anyone but the policyholder or immediate family living in the property.
As you can see, it’s well worth investing in sound lock change and key replacement insurance to save you time, money and stress. You’ll never have to worry about getting locked out of the house again! Just be sure to shop around for the best policy. Make sure you get a fair price and that you receive an adequate amount of coverage. If in doubt, don’t be afraid to quiz home cover providers until you get a clear understanding of what you’re paying for.