You better ask to your insurance a writing ! they are always saying yes yes and yes, but when it is time to pay the answer might be :
Sorry sir you have not understand we do not cover imaterial !
Well I don't know how things are in your neck of the woods but here in the states when you purchase insurance, material immaterial, doesn't matter. You purchase insurance based on the value of the item(s) to be insured. Yes, the dongle itself is only worth about $40.00, I get it, but the licenses it contains increase that value. My insurance company wouldn't insure a $40.00 item anyway because the value is too small. I explained to them that the Vienna key is like a key to a car that can't be duplicated in any way and without the key the car is useless. They understood and said they have no problem insuring the licenses on the key under the condition that I don't travel with it. If I do, I'm on my own. If nothing else but the Vienna key disapeared, they won't cover it.
My homeowner's insurance covers loses of up to $50,000. Your everyday average shmuck thief wouldn't know what that little piece of plastic is and would be more interested in the computer it's attached to. He may even be inclined enough to remove it as he's unplugging everything. In the event that he does take everything I know that I'm covered.