Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

Losing your keys is more than just inconvenient – it can be a costly mistake!

Whether you’ve misplaced your house keys or locked yourself out of your car, make sure you keep looking for them as hard as you can. Perhaps follow the advice laid out by apartmenttherapy.com  to try and find them. Because it could cost you hundreds of pounds to replace them, unless you have insurance.

According to research used by the Mirror.co.uk, the cost to replace car keys ranges from £111.10 for a BMW up to £251.55 for a Volvo. And if, like most, you keep your house key attached to your car key, you could face the additional cost of a locksmith to help you regain entry to your property.

Research from Lloyds Bank Car Insurance revealed that 26% of drivers have lost their car keys. One in five of those had misplaced their car keys at work while a further 15% had lost them on a shopping trip.


Locked out of your car? Here’s what to do:

1. Check your car insurance policy

Some (but not all) car insurance policies cover you for lost or damaged keys. However, check the excess on your policy, as this may be set higher than the cost of a replacement set, in which case a claim may not be worthwhile.


2. Find out if you have key cover

While some insurers offer key cover as standard, others will offer this as an extra feature for an additional sum. Always read the small print though, as some policies state that the keys must be lost for a specific time period before a claim can be made.


3. Call your breakdown service provider

If your keys are locked inside your car and you have breakdown cover, alert the breakdown company and they may cover the cost of the journey to recover your spare key. However, no spare key, no access.


4. Buy a new set

This is going to put a dent in your finances and you’re not guaranteed immediate access. Depending on the make and model of your vehicle, it could take up to ten days to receive a replacement.


5. Get a spare set cut

If you’ve still got one fully functional key, get a spare cut in case of a repeat emergency. Shop around and ask for a price from your car dealership as well as a local locksmith. Proof of ownership will be required so take your vehicle registration document (V5) and driving license as ID.


Locked out of your house? Here’s what to do:

1. Call a locksmith

If there is no way for you to access the property, call an approved locksmith to change and replace the locks.


2. Change your locks

If you don’t find your missing keys, it’s advisable to change the locks.


3. Have a spare set of keys cut

It’s advisable to have a spare set of keys cut in case a key is lost or damaged. Leave the spare with a trusted family member or friend.

In the unfortunate event that the key is used by someone to gain entry and take money or goods from the property, you may not be covered by your insurer if there are no signs of forced entry.


Satsuma Loans could provide help with emergency expenses:

If you don’t have insurance or key cover, you may need help to finance this unexpected expense.

Satsuma Loans offers short-term loans to help people spread the cost of unexpected expenses. You can choose to borrow between £100 - £1000 and repay over 3-12 months in manageable weekly segments.

We won’t charge you any fees, ever; you just repay the amount you borrowed plus interest. The total amount you agree to when you take out the loan will never change.









Representative example: £400 loan repayable over 26 weeks. 26 weekly payments of £29.46.  Rate of interest 183% p.a. fixed. Representative 1,575% APR. Total amount payable is £765.96.