Abstract: A valved drain plug apparatus having a valve body with a bore extending therethrough and an opening along a surface extending into the bore, and an insert element rotatably mounted within the bore of the valve body. The insert element has a hole along one surface. The insert element is movable between a first position in which the hole is aligned with the opening and a second position in which the insert element closes the bore of the valve body. The insert element has a generally tubular configuration being open at one end and closed at another end. A key member is detachably received by the insert element. The key member serves to rotate the insert element between the first and second positions. The key member includes a body member having an interior passageway extending therethrough and in communication with the bore of the valve body. The key member also includes a key extending upwardly from the body member so as to engage a key slot formed on a surface of the insert element.