Tesco Home Insurance

Compare Tesco Home Insurance With UK Market

Tesco Home Insurance

Tesco offer home insurance through their Tesco Bank brand. They offer both buildings and contents cover which can be bought separately or as a joint policy. Tesco Bank offers a discount on home insurance policies for Tesco Clubcard customers and a 10% discount for new customers who buy online.

Choosing a Tesco home insurance policy

Tesco Bank Home Insurance is Defaqto 5 Star rated and comes with a range of standard features, including unlimited buildings cover. You can also customise your policy with additional features to create a more comprehensive policy that matches your needs.

Buildings insurance

With Tesco buildings insurance you can enjoy:

• Unlimited buildings cover
• One year guarantee on home repairs which will be carried out by insurer-appointed builders
• Permanent fixtures in your home such as your built-in kitchen, wardrobes, showers and baths are also covered
• Burst pipes and blocked sewer pipes are covered for repairs up to £5,000
• They will provide replacement locks if your house keys are lost or stolen
• Alternative accommodation up to £50,000 if your home requires repairs

Contents insurance

Tesco contents insurance customers can benefit from:

• Up to £75,000 new for old contents cover, as standard. This can be increased to £100,000
• Alternative accommodation up to £15,000 if your home isn’t safe to live in
• Accidental damage on home entertainment equipment as standard
• Garden contents are covered up to £1,500, items such as barbecues and lawnmowers are included
• Digital cover for legal downloads and more, up to £2,000
• If your freezer fails, they will cover the cost of replacing your food, up to £1,000

Optional extras

Tesco home insurance customers can add the following optional extras to their cover:

• Extended Accidental Damage Cover (provides extra protection from accidents)
• Away from Home Contents Cover (covers your possessions when taken out of the home)
• Bicycle Protection (covers your bike away from home)
• Home Emergency Cover (24-hour cover for a range of emergency situations)
• Family Legal Guard (covers legal expenses & access to a legal helpline)

What is the Difference between New for Old cover and Indemnity cover?

The phrase ‘new for old’ is frequently mentioned in insurance policies but what does it mean? If you make a home insurance claim then it will be settled either on a new for old basis or an indemnity basis.

If you’re offered new for old cover, the insurer will either pay the full cost of repairing damaged items or will pay to replace them with equivalent new items, if they’re stolen or destroyed.

However, Indemnity policies will deduct an amount for wear, tear and depreciation of the item from the claim money.

While it’s likely that an indemnity policy might be cheaper than new for old cover, it might be counter-productive if you need to make a claim and could end up costing you more.