What is the limit for loss of keys under household contents coverage?

Household contents coverage typically includes a provision for the loss of keys, which helps policyholders manage the costs associated with rekeying or replacing locks due to lost keys. The limit of £500 is a standard figure found in many policies, designed to provide sufficient coverage for the potential expenses incurred in such situations, while also managing the risk for insurers.

This amount takes into account the general cost of locksmith services and the expense of changing locks in a typical household scenario. It balances the needs of homeowners looking for protection against occasional mishaps with the insurer's need to limit financial liability under the policy terms. Higher limits, such as £750 or £1000, could lead to higher premiums without a significant corresponding increase in risk for most policyholders. Therefore, £500 serves as a practical and reasonable limit to protect against this common issue while keeping household insurance premiums manageable.