Lloyds Bank is one of the "Big Four" UK clearing banks, serving millions of customers. Unlike some banks that act purely as brokers for other insurers, Lloyds Bank has its own insurance arm, Lloyds Bank General Insurance Limited, which underwrites its home insurance policies.
This means that when you buy a policy from Lloyds Bank, you are dealing directly with them for both the policy management and the claims (though specialist sections like Home Emergency may be handled by partners like Allianz Assistance).
A major selling point for Lloyds Bank home insurance is its pricing structure: they are one of the few providers to offer 0% interest on monthly payments and no administration fees for making changes to your policy mid-term.
You can get independent advice and a personalised quotes comparison of Lloyds Bank's home insurance deals from one of our expert advisers below:
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You can use our expert advisers to compare home insurance deals from Lloyds with products from other providers across the market.
They will round up personalised quotes from Lloyds and alternative providers and offer bespoke advice on which one to choose.
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What type of home insurance do they provide?
Lloyds Bank’s main product is called Home Insurance Select. Instead of a "one size fits all" policy, it is split into three tiers - Bronze, Silver, and Gold - allowing you to pay only for the cover you actually need.
Buildings insurance
This covers the structure of your home, including the roof, walls, windows, and permanent fixtures.
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Cover limits: All three tiers (Bronze, Silver, and Gold) typically offer Full Rebuild Cost cover. This means you do not need to estimate the rebuilding cost of your home, reducing the risk of being underinsured.
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Trace and Access: Cover to find the source of a water leak is included on all tiers, typically up to £5,000.
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Unoccupied period: The standard policy typically allows the home to be empty for up to 60 days, which is double the industry standard of 30 days.
Contents insurance
This protects your household goods and personal belongings against theft, fire, and flood.
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Cover limits:
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Bronze: Up to £50,000.
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Silver: Up to £100,000.
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Gold: Up to £250,000.
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Valuables: High-value items (usually over £2,000) need to be specified.
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Student Cover: Silver and Gold tiers often include cover for student belongings in halls of residence (up to £5,000).
Combined home & contents cover tiers
Here is how the three tiers compare at a glance:
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Bronze: The entry-level option. It covers the essentials (fire, theft, storm, flood) and includes full rebuild cover. However, it excludes Accidental Damage and Legal Expenses.
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Silver: A mid-range option. It increases the contents limit to £100k and adds Accidental Damage and Legal Expenses (£50k) as standard.
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Gold: The top-tier comprehensive policy. It offers the highest contents limit (£250k) and includes Accidental Damage and Legal Expenses.
Note: Unlike many competitors, Home Emergency cover is typically an optional extra on all tiers (even Gold), rather than being included as standard.
How Lloyds Bank calculates premiums
Lloyds Bank calculates premiums based on standard risk factors (location, property age, claims history). However, they have some distinct pricing features:
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0% Monthly Interest: Most insurers charge an APR (often 20-30%) if you want to pay monthly. Lloyds Bank allows you to spread the cost over 12 months at no extra cost.
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No Admin Fees for Changes: If you need to update your policy (e.g., changing your address or adding a specified item), they typically do not charge an administration fee.
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Club Lloyds Discount: Existing banking customers, particularly Club Lloyds members, may be eligible for introductory discounts.
Pros and cons
Here are the pros and cons for the Lloyds Bank Home Insurance Select offering:
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Pros |
Cons |
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0% Monthly Payments: No interest charged for spreading the cost. |
Home Emergency is Extra: Optional on all tiers (often standard on Gold/Platinum elsewhere). |
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Full Rebuild Cover: Included on all tiers, avoiding underinsurance risks. |
Bronze is Basic: Bronze tier lacks Accidental Damage and Legal cover entirely. |
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No Admin Fees for Changes: Free to amend your policy mid-term. |
Customer Service: Trustpilot scores for the bank as a whole are often low due to banking issues. |
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60 Days Unoccupancy: Generous limit compared to the standard 30 days. |
Customer reviews
As with many large banks, reviews can be mixed because they often conflate banking services with insurance products.
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Trustpilot: Lloyds Bank generally has a low Trustpilot score (approx. 1.7 out of 5), with complaints often focusing on branch closures or banking app issues rather than insurance claims.
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Defaqto: The insurance products themselves are highly rated. The Gold and Silver tiers are often rated 5 Stars by Defaqto, indicating that the features and benefits are among the best in the market.
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Claims: Lloyds Bank General Insurance handles claims directly (except for emergency/legal). They have a dedicated UK-based claims team which generally receives better feedback than the general banking customer service.
How to get a Lloyds Bank home insurance quote
You can apply for Lloyds Bank home insurance directly through their website or via your online banking app if you are an existing customer.
However, even with the "existing customer discount," it is not guaranteed to be the cheapest option. Because Lloyds underwrites its own policy, you are only seeing one price.
To ensure you aren't missing out on a better deal with more inclusive cover (like Home Emergency included as standard), it is wise to compare.
At Money Helpdesk, our home insurance experts can help you review your options. If you are wondering whether Lloyds Bank is the right choice for your home insurance, get in touch and we will review this for you.