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With Tesco Bank home insurance, you can take out buildings, contents or combined cover – and even receive a discount if you are a Clubcard member.
But does that make it one of the best home insurance companies in the UK? Our Tesco Bank home insurance review details exactly what is offered, what industry experts say about its policies and how customers feel about its service.
Tesco Bank provides three home insurance options: buildings, contents and combined buildings and contents insurance.
If you take out Tesco Bank buildings insurance, your cover will include the following:
If you purchase Tesco Bank contents insurance, your policy will include the following:
You can take out the above buildings and contents insurance policies under one combined premium and benefit from the protection offered by both.
It is essential to understand that you will not be covered for the following when taking out Tesco Bank home insurance:
Tesco Bank combined buildings and contents insurance | |
---|---|
Buildings cover | Unlimited |
Contents cover | £75,000 as standard, can increase to £100,000 |
Outbuildings cover | Included under buildings cover Up to £5,000 for theft from outbuildings |
Alternative accommodation | Up to £65,000 (£50,000 buildings insurance, £15,000 contents insurance) |
Loss of rent | Up to £65,000 (included as part of the alternative accommodation benefit) |
Tenants’ liability | Up to £10,000 |
Water leaks | Up to £5,000 for trace, access and repair Accidental loss of metered water |
Oil leaks | Up to £5,000 for trace, access and repair Accidental loss of metered oil |
Theft of keys | Yes |
Valuables or high-risk item limit (if not a specified item) | Included in contents cover as standard |
Visitor or guest belongings | Up to £1,000 |
Money | Up to £500 |
Digital media or downloaded content | Up to £2,000 |
Business equipment | Up to £10,000 for home office equipment related to admin, clerical or child-minding work |
Liability cover | Up to £2 million (property owner’s liability) Up to £2 million (personal liability) Up to £10 million (employer’s liability) |
Home Emergency | Optional |
Family Legal Guard | Optional |
Personal possessions | Optional |
Accidental damage | Accidental damage to windows, door glass, solar panels, the bathroom suite and home entertainment equipment included as standard Optional extended cover for both buildings and contents |
You can add the following optional extras at an additional cost to your Tesco Bank home insurance:
If you need to make a claim on your Tesco Bank home insurance, you should take the following steps:
If you need to contact Tesco Bank about your home insurance unrelated to a claim, you can phone 0345 246 2904 or 0113 209 3099 when calling from a mobile device.
You can also change your policy using your online login without incurring any fees.
If you need to cancel your Tesco Bank home insurance, click “Manage Renewal” in your online account or call 0345 246 2904.
When cancelling your policy, you will be refunded for the time left on your policy (if you have not made a claim) minus any cancellation or administration fees. You can cancel during the 14-day cooling-off period without incurring any additional costs.
Tesco Bank has a “Great” Trustpilot rating of 4.2 out of five, based on over 22,000 reviews.
However, this is for the entire brand and not just Tesco Bank’s home insurance policies. This is because Tesco Bank offers a range of other products, including car insurance, travel insurance, pet insurance, credit cards and savings accounts.
Of its five-star Trustpilot reviews that mention home insurance, there is praise for Tesco Bank’s speedy and understanding response to claims and the quality of its customer service team. Multiple reviews speak positively of its new home insurance quotes.
Yet, as is the case with many home insurance providers currently, there is a lot of criticism of Tesco Bank’s renewal quotes and the need to negotiate the offer down.
“Tesco Bank Home Insurance was great, the staff was friendly, professional, calming and kind. They explained everything that would happen and near to the minute that it would happen too. The claim was [settled within] two days allowing me to get a replacement straight away.”
“We were burgled recently and Tesco Home Insurance was easy to deal with, efficient and very customer service oriented. Good experience and would highly recommend.”
“Home insurance contents renewal. £210 last year, renewal quote was £350+ even though there have been no claims. After speaking to someone and refusing a second offer of £270 as it was still too steep an increase, they finally managed £218. Why oh why could they not offer that in the first place? They were hoping it wouldn’t be noticed or challenged is my theory. The reason I didn’t give one star is because the person I spoke to was very polite and helpful.”
From Defaqto, Tesco Bank has the following ratings:
From Fairer Finance, meanwhile, Tesco Bank received the following ratings:
Provider name | Trustpilot score | Defaqto score | Fairer Finance score |
---|---|---|---|
Tesco Bank | 4.2 out of five | ★★★★★ (Buildings) ★★★★★ (Contents) | ★★★★ (Combined) |
Admiral* | 4.5 out of five | ★★★★★ (Buildings) ★★★★★ (Contents) | ★★★★ (Combined) |
Aviva | 4 out of five | ★★★★★ (Buildings) ★★★★★ (Contents) | ★★★ (Combined) |
Axa | 4.3 out of five | ★★★★★ (Buildings) ★★★★★ (Contents) | ★★★★ (Combined) |
Direct Line | 3.8 out of five | ★★★★★ (Buildings) ★★★★★ (Contents) | ★★★★ (Combined) |
Esure | 3.3 out of five | ★★★★★ (Buildings) ★★★★★ (Contents) | ★★ (Combined) |
Homeprotect | 4.3 out of five | ★★★★★ (Buildings) ★★★ (Contents) | ★★ (Combined) |
LV | 4.5 out of five | ★★★★★ (Buildings) ★★★★★ (Contents) | ★★★ (Combined) |
More Than | 3.8 out of five | ★★★★ (Buildings) ★★★★★ (Contents) | ★★★ (Combined) |
Policy Expert | 4.6 out of five | ★★★★★ (Buildings) ★★★★★ (Contents) | ★★ (Combined) |
Rias | 4.1 out of five | ★★★★★ (Buildings) ★★★★★ (Contents) | ★★★ (Combined) |
Saga* | 4.2 out of five | ★★★★★ (Buildings) ★★★★★ (Contents) | ★★★ (Combined) |
With just one level of cover for buildings, contents and combined home insurance, it’s easy to know what you are getting with Tesco Bank home insurance. And, based on its Defaqto and Fairer Finance ratings, that is a solid home insurance policy.
It has blanket five-star ratings from the former and a robust four-star rating from the latter, which is usually a harsher reviewer than Defaqto. It also received a “Bronze Ribbon” from Fairer Finance for its customer experience, scoring 67 per cent. That is higher than many prominent providers.
It is also always a good sign when Trustpilot is full of reviews praising a provider for its customer service and how it deals with claims, as is the case with Tesco Bank home insurance. Be aware, however, that you may end up with a sizable increase in your premium when renewing (an issue that, admittedly, is far from limited to Tesco Bank).
Tesco Underwriting Ltd underwrites Tesco Bank home insurance. However, the UK branch of Inter Partner Assistance SA underwrites its Home Emergency cover, while AmTrust Europe Limited underwrites its Family Legal Guard add-on.
Since 2008, Tesco Bank has been a wholly owned subsidiary of Tesco PLC.