Tesco launches "no-frills" home insurance from around £2 a week
By: Brad Swarner
Tesco has made home insurance more affordable for millions of homeowners by launching Tesco Value Home Insurance.
With cover options starting from around £2 a week*, Tesco Value Home Insurance includes essential elements of cover whilst removing extras that some homeowners may not wish to pay for.
The policy covers all major perils such as fire, storm, theft and flood, but does not include accidental damage, cover for personal possessions, or contents away from the home. Additionally, accidental cover and contents in the garden are not insured, nor are pedal cycles.
The launch of Tesco Value Home Insurance comes as Tesco also makes changes to its Standard Home Insurance level of cover, taking account of changing lifestyles (e.g. increasing value of garden furniture, pedal cycles etc.) and adding more than £10,000 of cover at no extra cost.
Jim Bruce, Head of Home Insurance, said: "Our new no-frills product will help thousands of customers gain the security of cover for their buildings and contents without having to pay extra for cover they may not want.
"At Tesco, we provide value products that reduce costs for our customers during these tougher economic times."
New Value Home Insurance customers will receive a £10 voucher towards shopping or fuel at Tesco.
* The policy example is based on a customer taking out Tesco Home Insurance Value cover, living in a three bedroom terraced property, built between 1946-1979 in Angus, Scotland and with a contents value of £30,000, buildings sum insured £1,000,000. Weekly cover costs £2.04 for this option. Accurate as at 22 June 2008.
For further information, please contact:
Matthew Dransfield Tesco Personal Finance Tel: 0131 523 9001 Mob: 0791 707 0614
Ra Fletcher Haggie Hepburn Tel: 020 7334 7777 High resolution images are available for the media to view and download free of charge from www.vismedia.co.uk
Notes to editors:
Tesco Home Insurance * Tesco Home Insurance is underwritten by UK Insurance Limited. * Get a quote for Tesco Value Home Insurance by 23 July 2008, and when you buy, receive £10 off shopping or fuel at Tesco (Clubcard customer exclusive). ome Insurance FienstT
Tesco Personal Finance Tesco Personal Finance Limited is a joint venture between The Royal Bank of Scotland plc and Tesco PLC. Tesco Personal Finance Limited. Registered in Scotland No. 173199. Registered Office: 24 St Andrew Square, Edinburgh, EH2 1AF.
Authorised and regulated by the Financial Services Authority.
To apply for Tesco Value Home Insurance, visithttp://www.tescofinance.com/ or phone 0845 301 09 01.
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