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When taking out your home insurance, you may be offered the additional option of covering your locks. Or you might be considering taking out additional cover specifically for your locks. In this article, Lock Guy, a professional locksmith, looks at should you get lock coverage Insurance when it is offered?
Most home insurance policies cover lock damage from a covered event, but they do not normally cover things like wear and tear or losing your keys.
That is where separate lock cover can help. It should cover all standard locksmith services that may be needed should you face a problem with being able to effectively operate your lock or locking mechanism.
Having this insurance means that a locksmith’s fee is covered for things like being locked out, or new locks if they become damaged (e.g. during a break-in).
This normally covers external locks and will, as a minimum, cover you in terms of getting your door to be secure in the event of an emergency. Whether it will cover all replacement parts depends on the specific policy.
It may also cover boarding up services in the event that a window gets broken/smashed.
The obvious advantage is that if something goes wrong with your lock or keys, you can just contact your insurance provider and they will have responsibility for resolving the problem at no additional cost to you (except maybe some excess, and/or possibly an increase to your premium moving forward).
In normal circumstances, selecting a good locksmith can be challenging due to the big choice available and there are rogue locksmiths taking advantage of the lack of regulation in the profession. The insurance company will have links to reputable organisations, so you know when they send out a locksmith that it will be a reputable/qualified person.
Having additional lock coverage can also reduce your premium on your standard home insurance.
It can also protect you from having a claim refused if your locks are not at the required standard. Normally, if locks are not of an adequate standard it can invalidate your home insurance. But lock coverage can act as a sort of indemnity in the event you are not able to have insurance approved locks (e.g. old listed buildings with restrictions on using more modern locks).
You can read more about having insurance approved locks in my article on Could Your Door Locks Invalidate Your Home Insurance.
Firstly, check what is says on your current policy. You might already be covered under your existing home insurance policy for things like lost keys, failed locks or emergency locksmith services.
Separate to insurance coverage, please also be aware that some lock manufacturers also offer assurances, for example, guarantees of up to £5000 if anyone breaks into your property through their lock.
There is no right or wrong answer when asking the question should you get lock cover insurance. Having lock insurance coverage provides peace of mind against issues related to your locks, so if you are the sort of person that feels anxious about these types of things, then lock coverage is probably a good idea.
On the other hand, this coverage is not for free and people have to weigh up the probability of having an issue vs. the cost.
I hope this article on should you get lock cover Insurance has been useful. For further information, or if you have any locksmith requirements in Witham, Maldon or across Essex then contact Lock Guy.
Got a question about a lock issue you may have? Why not have a look at the FAQ page or one of the helpful advice videos on the Media page.