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Tesco Bank launches new flexible Home Insurance product

Tesco Bank has launched a new Home Insurance product, designed to make buying home insurance simpler and more flexible.

When purchasing insurance, customers often find it difficult to calculate the value of their home and its contents which may leave them under-insured. Tesco Bank Home Insurance offers unlimited buildings cover and £75,000 contents cover as standard, to help meet the needs of the majority of customers.

We know that customers often feel overwhelmed by the range of extra cover options available, so Tesco Bank Home Insurance allows customers to select the extra cover they need. The new product provides clear information, up-front, to help customers select and pay for the extra cover they want from: extended Accidental damage, cover for belongings away from home, Bicycle cover, Home Emergency cover and Family Legal Guard.

Karl Bedlow, Managing Director - Insurance at Tesco Bank, commented on the new product,

“Customers’ demands are changing; they increasingly want a home insurance policy which takes their lifestyle and individual needs into account.

This new, Defaqto 5-star rated, product offers customers the flexibility to tailor their policy around their needs, while maintaining the high quality customer service they have come to expect from Tesco Bank.”

In addition, new customers with a Clubcard who purchase a combined buildings and contents policy direct from Tesco Bank by 13 August will receive a £40 Tesco gift card and benefit from an exclusive Clubcard discount. The discount does not apply to Home Emergency cover and Family Legal Guard. In fact, 60% of new customers with a Clubcard paid £195 or less* for their policy when they bought combined buildings and contents cover from Tesco Bank.

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For more information and media enquiries please contact:

Tesco Bank press office

+44 (0) 131 274 3630 

Notes to Editors

Tesco Bank Home Insurance is arranged and administered by Tesco Bank and is underwritten by a select range of insurers.

Family Legal Guard is provided by Ageas Insurance Limited. Home Emergency Cover is provided by Interpartner Assistance SA and claims are handled by Homeserve Membership Ltd.

Additional Gift Card Terms and Conditions: Quotes originating from and purchases via all price comparison websites (including Tesco Compare) are excluded. Clubcard number and promo code HOMEGC40 must be provided during quote.  One offer per customer.  Not to be used in conjunction with any other offer.  If you cancel your policy within the first 14 days you will not receive the Tesco Gift Card.  The Tesco Gift Card will be posted (no duplicates will be sent) to the policyholder’s address within 6 weeks of the policy purchase date.

*Based on new policies sold and accepted between 01/12/2012 – 31/03/2013.  The premium customers pay will depend on their circumstances and the amount of cover they choose.

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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