Cove mitres require very little maintenance, if any. However, there are a few steps you can take to save having to replace your cove mitre prematurely.
Cleaning
When you have finished using your cove mitre, brush any debris from it. This will prevent dirt and debris from increasing the wear on the cove mitre next time you come to use it and also prevent it from leaving marks on the coving as it is used.
Storing
Metal cove mitres should be stored in a cool, dry place to prevent any rust forming on them. A rusty cove mitre will leave marks on your coving.
Plastic cove mitres should be kept out of direct sunlight when not in use as UV (ultra violet) light can cause plastic to become brittle and break.
How long should a cove mitre last?
If cleaned and stored correctly, a steel cove mitre should last a lifetime. However, plastic ones will not last so long.
Curved plastic cove mitres in particular will not last as long as others. This is due to the saw wearing the right and left face edges more as their faces have less area to rest the saw blade against.
This type of cove mitre may only last long enough to cut the coving mitres for one or two rooms, which is why they are referred to as DIY tools rather than professional or trade. If you have a lot of coving to cut, it is better to spend the little extra and purchase one made of steel.