Insured lid and keys (7)
I believe the answer is:
covered
'insured' is the definition.
('cover' can be a synonym of 'insure')
'lid and keys' is the wordplay.
'lid' becomes 'cover' (I've seen this in another clue).
'and' says to put letters next to each other.
'keys' becomes 'ed' (I can't justify this - if you can you should give a lot more credence to this answer).
'cover'+'ed'='COVERED'
Can you help me to learn more?
(Other definitions for covered that I've seen before include "given protection" , "Concealed; dealt with" , "Overlaid with something" , "Concealed; roofed over" , "Reported" .)