Tesco Bank Home Insurance Review and Quotes
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Discover the methodologyWould you like to protect your home against any damage or an unfortunate event such as a house fire or theft?
Are you wondering if Tesco Bank is the best home insurance company to protect your house?
You’ve come to the right place.
This ultimate and up-to-date review on Tesco Bank home insurance gathers all you need to know: consumers reviews, cover details, prices, claim process, contact numbers and much more. Let’s dive right into it.
Is Tesco Bank the best insurance company for you?
Getting the best home insurance deal is not just about the price. Indeed, focusing on just getting the cheapest deal might be a bad calculation when it comes to getting a good pay-out if your home is damaged as a result of an unfortunate event such as theft, fire or natural disaster.
At Safe, we’ve studied in detail Tesco Bank's home policy terms and conditions and given our own ratings based on different criteria for combined building and contents insurance policy.
4,2 Safe overall rating for Tesco Bank
| Safe rating | Our opinion | |
|---|---|---|
| Customer service & satisfaction and claims |
Rated 5 stars by Defaqto | |
| Cover provided for your home |
Up to £100,000 new-for-old contents cover (£75 000 as standard) | |
| Value for money |
No adjustment fees, reasonable cancellation fees outside cooling off period | |
| Financial strength | High, Tesco Bank Insurance is administered by different underwriters such as Tesco Underwriting Ltd, Axa Insurance UK, Geo Underwriting Services Limited, Royal and Sun Alliance Insurance plc and Legal and General Insurance Ltd | |
| Technology |
100% online quote and claim process |
Expert and customer satisfaction reviews for Tesco Bank home insurance
| Review organisation | Tesco Bank home insurance reviews |
|---|---|
Defaqto expert |  |
| Trustpilot | 1,4/5 based on 735 customers reviews |
| Overall Which? Score | 69% |
Our general opinion on Tesco Bank home insurance
Tesco Personal Finance was founded in 1997, and born from a partnership between the Royal Bank of Scotland and Tesco plc.
The company is specialized in providing car and home insurance as well as other banking products and is rated 5 stars by Defaqto.
Tesco only provides one level of home insurance.
The website is well organized, very documented. The customer portal allows any customers to fully manage policies and claims online. Besides different landlines numbers are available.
However, the company is only rated 1,4 out of 5 on Trustpilot, which means customer service must be poor when it comes to getting compensation or assistance for serious claims.
Limits provided under building and contents insurance are good. In overall, we would recommend this policy and advise customers to manage everything from the Tesco website and Your Insurance Account.
What does Tesco Bank home insurance cover?
What is more important than protecting your home – the roof under which you sleep with your loved ones?
Applying for home insurance at Tesco Bank will allow you to protect the structure of your home (buildings insurance), what is inside (contents insurance) or both (combined buildings and contents insurance).
Without home insurance, your home is exposed to any kind of risk, from a minor water leak to a fire, and you are liable for any repairs – whatever the cost this represents.
Home insurance at Tesco Bank covers you for any damage made as a result of an unfortunate event such as theft, fire and natural disaster causing leaks, flooding, etc.
Tesco Bank buildings and contents insurance
Tesco Bank provides three main types of household insurance:
- Buildings insurance
- Contents and personal possessions insurance
- Combined policy
Buildings insurance covers the structural aspects of your home. It will cover any damage made to your walls, floors, ceiling, windows, outbuildings, garages, etc. You can also extend your buildings insurance to permanent fixtures such as bathrooms, etc. Buildings insurance is for homeowners.
Good to know
If you buy your property and get a mortgage for this, you will be asked to provide valid buildings insurance. Buildings insurance is not mandatory, though. However, you must know that an average claim for repairing a burst pipe for example is £25 000.
Contents insurance will cover any damage made to your belongings inside your home or in your garden (TV and other appliances, furniture, etc). In other words, it will cover anything which is not structural.
Good to know
House contents insurance is highly recommended (especially in case you get burgled or if you are renting a furnished flat) but is not mandatory.
In the event of a fire, for instance, buildings insurance will give you compensation for your home structure, your walls, roofing or other structural elements damaged during the fire, and contents insurance will cover any damage made to your household appliances, furniture, jewellery and so on.
You will find below policy details for building and contents insurance:
| Tesco Bank building insurance | Limits |
|---|---|
| Maximum sum insured | Unlimited |
| Owner liability | £2 000 000 |
| Alternative emergency accomodation | £50 000 |
| Period of home's unoccupancy cover | 60 days |
| Repairs guarantee period | 1 year |
| Trace and access | £5 000 |
| Burst pipe | As standard |
| Blockage of sewer pipe | As standard |
| Gradual build-up of groundwater | Not covered |
| Subsidence | As standard |
| Underground services | As standard |
| Keys cover | Unlimited |
| Flood and storm damage (except for fences) | As standard |
Good to know
Limits mentioned above are part of the total sum you insured with your insurer when applying for home insurance (and not in addition to).
Let’s have a look now at Esure contents insurance limits:
| Contents insurance | Limits |
|---|---|
| Maximum sum insured | £100 000 |
| Owner liability | £2 000 000 |
| Alternative emergency accomodation | £15 000 |
| Period of home's unoccupancy cover | 60 days |
| Damage made by pets | Not covered |
| Contents kept in garden | £1 500 |
| Contents kept in outbuildings (garage included) | £100 000 |
| Thefts from outbuildings | £5 000 |
| Single item limit for valuables | £30 000 |
| Items temporarily removed from home | £10 000 |
| Money in and outside the home | Inside: £500 Outside: 500 (under personal possessions cover - optional extra) |
| Credit cards in and outside the home | Inside: £500 Outside: 500 (under personal possessions cover - optional extra) |
| Business equipment kept at home | £10 000 |
| Student equipment | £5 000 |
| Keys cover | Unlimited |
Tesco Bank home insurance additional cover
On top of your Tesco Bank buildings and contents insurance, you can find additional cover such as:
| Home insurance additional cover | |
|---|---|
| Accidental damage cover | Available as extra |
| Home emergency |
|
| Boiler cover |
|
| Legal protection |
|
| Personal possessions |
|
| Mobile cover |
|
| Bicycle cover |
|
Tesco Bank home insurance excess
The deductible you'll have to pay in case of claims are as described below:
| For both building and contents insurance | |
|---|---|
| Excess for standard claims | £100 |
| Excess for escape water claims | £250 |
| Excess for subsidence claims | £1 000 |
| Excess for personal possessions | £0 |
| Excess for keys | £100 |
Tesco Bank home insurance fees and NCD
To manage your policy, renew, cancel or modify it, Tesco Bank fees are as follows:
| Fees applied to manage your Tesco Bankhouse policy | |
|---|---|
| Interests on payment installments | 29,80% |
| To renew my policy | £0 |
| To adjust my policy | £0 / £20 by phone |
| To duplicate documents | £0 |
| To cancel my policy during cooling-off period | £0 |
| To cancel my policy outside cooling-off period | £35 |
| For payment default | £0 |
| To switch from one insurer to Tesco Bank | Not covered |
How much does Tesco Bank home insurance cost?
You will below indicative quotes for building and contents insurance at Tesco Bank:
| Building insurance | Contents insurance | |
|---|---|---|
| Excess | £100 | £100 |
| Home cover | Building: £250 000 Contents: £20 000 Personal items: £4 000 | Building: £500 000 Contents: £50 000 Personal items: £8 000 |
| Premium | £160,77 | £315,45 |
It is very difficult to give a precise range of how much exactly will your home insurance cost at Tesco Bank as it will mainly depend on:
- The insurance you apply for (building, contents, combined insurance, extras)
- Your address
- Your claim record
- The insured value of your home and of your personal belongings, etc.
Tesco Bank will establish a risk rate, taking into account all these elements, and offer you a price based on it.
The average cost of combined buildings and contents insurance in 2018 was £163, with contents insurance usually counting for a third of the premium (around £60) and building insurance for the rest (around £110). However, premium will be higher if you buy stand-alone building or contents insurance.
Do you want to compare the cheapest home insurance quotes? It couldn’t be easier. Just do a quick home insurance comparison using our comparison tool below. It takes only 15 seconds and is completely neutral and 100% anonymous.
Tesco Bank home insurance discounts available
- No discounts for buying combined policy
- 20% discounts when buying online
- Guaranteed discount for Tesco Clubcard members
How do I a claim on Tesco Bank home insurance?
To claim at Tesco Bank home insurance you need to make a phone call. Make sure you have your policy number with you and take all necessary documents before calling.
You will be asked to provide your insurance policy number as well as details on claim circumstances such as date and time, pictures or other person involved.
| How to claim on Tesco Bank home insurance? | |
|---|---|
| Claim by phone | 0345 677 7222 |
Good to know
If you claim is related to a criminal incident (theft, fire etc), you must call the police upfront.
How can I cancel Tesco Bank house insurance?
To cancel your Tesco Bank house insurance, here is what you need to know:
| Cancelling your home insurance at Tesco Bank | |
|---|---|
| Cancellation notice if Tesco Bank cancel your policy | 7 days |
| Cancellation fees | Fees during cooling-off period: £0 Fees outside cooling-off period: £35 |
| Cancel by mail | Tesco Bank Customer Service |
| Cancel by phone | 0345 677 7222 |
How to contact Tesco Bank home insurance?
| Services | Phone numbers | Opening hours |
|---|---|---|
| New customers | 0345 366 8632 | Mon-Fri: 9am – 6pm |
| Claims (depending on the underwriter) | Tesco Underwriting Ltd: 0345 677 7222 | Not stated |
| Claims (for other policies) | Home Emergency cover claims: 0330 123 1963 | 24/7 |
| Queries and changes to insurance policy and any other add- on products | 0345 246 2904 | Not stated |
| Calling from a mobile phone | 0113 209 3099 | Not stated |
Tesco Bank home insurance contact details
| Tesco Bank contact details | |
|---|---|
| Tesco Bank address | Customer Relation Manager Freepost RSJB-RYLK-JKUX Tesco Bank Complaints P.O.Box 277 Newcastle upon Tyne NE12 2BU |
| Customer service email | |
| Chatbot available | Not available |
How do I log in to Tesco Bank customer portal?
You can log into your Insurance Account at Tesco Bank after creating an account.The secure customer portal is your one stop centre for managing, viewing, printing your policy document. It saves you the stress of physically keeping your insurance policy document and prevent it from loss and damage.
How do I get Tesco Bank home insurance quotes?
To get a quote online at Tesco Bank, it couldn’t be simpler.
You can go on our home insurance comparison tool here and compare the main home insurance deals on the market. If Tesco Bank is the company that best suits your needs, then you just click on the ‘Get quote’ button and follow the whole process explained online.
To get Tesco Bank home insurance quotes, you will need to provide:
- Your personal information: ID, age, phone number and job
- Your address and postcode
- Your homeowner record (claims included)
- Your home description (type of property, the date it was built, how many square metres inside and outside)
- Your property related status: do you own it, rent it, have a mortgage on it, etc.
- Extras you’d like to get on your home insurance, contents sum insured and the excess you’d like to pay.
The types of questions you will be asked are typically:
- Are you a first-time buyer?
- Has the property ever suffered from subsidence, cracking, subsidence or undergone any underpinning (or showed any signs)?
- Has the property ever been damaged by flood?
- Has anyone living permanently at the property made any home claim(s) for loss or damage in the past X years (usually 3) or had any claim(s) made against them? etc.
5 tips to reduce your Tesco Bank house insurance quote
- Always shop around on home insurance comparison sites. If you do not auto renew and instead apply for new home insurance, you will easily be able to lower your house insurance cost and benefit from new customer discounts.
- Increase the excess amount you are willing to pay in case you make a claim.
- Choose the level of cover that is right for you. Insure with the right sum for both your buildings and contents insurance. If you do not have high value items, consider an ‘indemnity’ contents insurance rather than a ‘new for old’ one.
- Opt for a policy offering No Claim Bonus to lower your premium if you've gone for a few years without making any claim.
- Consider index-linked cover for building insurance to follow prices of building materials.
