“AppleCare+ is an insurance product that provides up to two years of expert technical support1 and hardware coverage for iPad, Apple Pencil and Apple-branded iPad keyboard, including up to two incidents of accidental damage, each subject to an excess fee of £39 for iPad and £25 for Apple Pencil or Apple-branded iPad keyboard. Coverage begins on your AppleCare+ purchase date.”

Considering the price of both the iPad and its accessories, an excess fee of £39 to get a new Magic Keyboard if you happen to damage it is probably a good shout.