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Tesco Clubcard holders save £35 million on car insurance products

Tesco Bank has rewarded Clubcard holders to the tune of £35 million* through discounts on its car insurance products since the start of this year.  This figure is released as the bank launches a campaign promoting the deals Tesco Clubcard holders can enjoy.

Unlike the introductory offers from other insurers, the Clubcard discount is given to customers on an annual basis and not just offered to new customers.  This means that the discounts apply each year the policy is renewed, not just at the initial purchase, reinforcing Tesco Bank’s commitment to treat existing customers fairly and offer them our best Clubcard discount price.

The extent of the relationship customers have with Tesco directly determines the level of discount they will get on insurance products. Clubcard holders regularly shopping with Tesco will receive the biggest discounts on insurance products.

The sizeable discounts offered on insurance products support the bank’s philosophy of rewarding loyal customers. 

Tesco Bank first started rewarding its insurance customers when it introduced Clubcard discounts on car insurance in 2008, but in 2012 enhanced and improved the offers across its insurance portfolio.

Benny Higgins, Chief Executive of Tesco Bank, commented,

“Rewarding existing customers is a hallmark of how we aim to serve Tesco customers. This is just as important as ensuring they are offered the best customer service and good value.

“We know Clubcard discounts are valued by Tesco customers. By extending them further across our insurance products, we are able to say thank you to more customers for their continued custom, while rewarding their loyalty in a meaningful way.”

The following discounts apply for new customers with a Clubcard **:

  • Up to 30% on Car Insurance
  • Up to 20% on Home Insurance
  • 5% on Travel Insurance
  • 5% on Pet Insurance

The following provides some illustrative examples of the savings some typical Tesco Clubcard customers can make:

Customer Clubcard Discounts received for last 2 years Total saving on car insurance premiums
A - 30 year old female from Kent, drives a 2 year old BMW 13% and 24% £168
B - 49 year old female from Manchester, drives a 2 year old Mini 13% and 24% £166
C - 68 year old male from Ayrshire, drives a 7 year old Polo 12% and 24% £87
D - 48 year old female from Cannock, drives an 11 year old Landrover 9% and 24% £110
E - 31 year old female from Sunderland, drives an 11 year old Ford Focus 19% and 24% £283


Clubcard discounts vary depending on individual circumstances.

--ENDS--

For more information and media enquiries please contact:

Tesco Bank press office

+44 (0) 131 274 3630 

Notes to Editors:

*based on the total value of discounts on Tesco Bank car insurance premiums received by new and existing Clubcard customers from 1 January 2012 to 31 July 2012.
**At least 10% of Clubcard customers will achieve the maximum discount on car and home. Discount for car does not apply to options that can be added.  Discount for home applies to buildings and/or contents cover.

Tesco Car and Home Insurance is arranged and administered by Tesco Bank and is underwritten by a select range of insurers. Tesco Pet Insurance is arranged, administered and underwritten by Royal & Sun Alliance (RSA). Tesco Travel Insurance is provided by Ageas Insurance.

About Us:

Tesco Bank’s goal is to make banking and insurance easier and better value for people who shop at Tesco. We’ve been around since 1997 and today we help more than 5 million customers manage their money every day. Our 4,000 colleagues serve our customers seven days a week from our three main centres in Edinburgh, Glasgow and Newcastle, and we are also available through online and mobile banking 24/7. Tesco Bank participates in the Chartered Banker Professional Standards Board.

Tesco Bank is a trading name of Tesco Personal Finance plc. Registered in Scotland No. SC173199. Registered Office: 2 South Gyle Crescent, Edinburgh, EH12 9FQ

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