It has a hardened-steel locking pin that replaces your standard Class 3 hitch pin. The lock for the pin faces sideways, so you can get a key in easily, and it has a weather-sealing cap. You must have the key to lock and unlock the pin, so you don't lock it if you don't have the key. Mounted on the opposite end of the pin is an oblong stainless steel box sealed with a combination-locked door. The removable door is attached with a small cable for safety. You easily choose and set the four-digit combination yourself. Finally, the key-safe portion is covered with a weather-sealed cover. The box has ample room for a small key ring and the keyless remote common to modern vehicles.The Hitch Safe isn't indestructible, but it is miles better than hiding a key on your vehicle's tire or in the gas door. The only drawback is the need for a draw-bar-type hitch. My truck doesn't have one, so I used a hole in my in-bed tiedown bar. Retail price is $47.88. I don't ride without mine, and any Master Lock dealer can order yours.