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Motorists are being warned to check their insurance policies for a common mistake that could end up costing them hundreds of pounds: Losing their car keys.
Research from GoCompare has found that one-third of car insurance providers do not cover the costs of a lost car key, leaving motorists having to face a bill that could cost them several hundred.
Traditionally, losing a car key was a minor inconvenience that would have cost up to £150 to replace. However, the modern technology in cars makes them far more complicated to reproduce, with bills increasing to over £600.
Of the 33% of insurance firms that did not provide replacement keys as standard, 19% of them did offer it as an optional extra that motorists could add to their policy. However, 13% did not provide any form of lost key cover, which could leave customers facing a hefty bill should they misplace theirs.
The situation is different in the event of your keys being stolen, though. 91% of insurance firms stated that in this situation, the replacement would be covered.
Calls may be monitored for quality and training purposes. Eastern Western Motor Group Ltd is authorised and regulated by the Financial Conduct Authority for credit broking and insurance distribution activities under reference number 310505 – we are a credit broker not a lender. Registered Office: 8 Westerton Road, East Mains Industrial Estate, Broxburn West Lothian EH52 5AU Registered in Scotland No. 14833 VAT Registration No. 269233051 We work with a number of carefully selected credit providers who may be able to offer you finance for your purchase. We are only able to offer finance products from these providers.