Tesco Bank, the financial services arm of the UK's largest supermarket, launched in 1997. Since then, it has grown to serve millions of customers across banking and insurance.
Unlike some providers that act solely as brokers, Tesco Bank’s home insurance is arranged and administered by them and underwritten by Tesco Underwriting Ltd (a company now wholly owned by Tesco Bank after they bought out their partner Ageas in 2021). This allows them to have greater control over the claims experience and pricing.
They are well-known for rewarding loyalty, often offering guaranteed discounts to Clubcard members.
You can get independent advice and a personalised quotes comparison of Tesco Bank's home insurance deals from one of our expert advisers below:
Get home insurance quotes and advice today!
You can use our expert advisers to compare home insurance deals from Tesco with products from other providers across the market.
They will round up personalised quotes from Tesco and alternative providers and offer bespoke advice on which one to choose.
To get started, fill in our quick online form below and one of our expert home insurance advisers with be in touch today!
What type of home insurance do they provide?
Tesco Bank simplifies its offering compared to some competitors. Instead of confusing "Bronze, Silver, Gold" tiers, they generally offer a single comprehensive policy with flexible cover limits that you can adjust to suit your needs.
Buildings insurance
This covers the structure of your property, including the roof, walls, windows, and permanent fixtures like bathroom suites and fitted kitchens.
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Cover limits: Unlimited buildings cover is often included as standard, removing the worry of under-insuring your rebuild costs.
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Trace and Access: Cover is typically included to find the source of a water leak (limits apply, e.g., £5,000).
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Unoccupied period: Standard cover usually allows for the home to be empty for up to 60 days, which is more generous than the standard 30 days offered by many rivals.
Contents insurance
This protects your household goods and personal belongings - like furniture, electronics, and clothes - against theft, fire, flood, and other risks.
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Cover limits: You can typically choose your own limit to match your needs, with options such as £50,000, £75,000, or £100,000.
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Valuables: High-value items (usually those worth over £2,000) will need to be specified on the policy.
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New for old: Items are replaced on a new-for-old basis (except for clothing and linen).
Combined home & contents cover
Buying both together is the most common choice and often leads to a "Clubcard Price" discount.
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Standard Features: Includes cover for fire, theft, storm, flood, and escape of water.
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Optional Extras: You can bolt on additional protection such as Extended Accidental Damage, Personal Possessions (for items away from home), Bicycle Cover, and Home Emergency Cover.
How Tesco Bank calculates premiums
The cost of your home insurance with Tesco Bank depends on the cover levels you select and your voluntary excess. They also consider:
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Clubcard Membership: This is a major factor. Clubcard members often receive a guaranteed discount on their premium.
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Property Age & Location: Older properties or those in high-risk flood areas will attract higher premiums.
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Security: Having approved locks, smoke alarms, and burglar alarms can reduce the price.
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Claims History: A claim-free history (No Claims Discount) will significantly lower your renewal price.
Pros and cons
Here are the pros and cons for Tesco Bank's home insurance offering:
Tesco Bank Home Insurance
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Pros |
Cons |
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Clubcard Discounts: Guaranteed discounts for Clubcard members are a unique benefit. |
Customer Service: While decent, online reviews can be mixed regarding call wait times. |
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Unlimited Buildings Cover: Often standard, reducing the risk of under-insurance. |
Accidental Damage: Often an optional extra rather than standard on the base policy. |
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60 Days Unoccupancy: More generous than the 30-day market standard. |
Admin Fees: Cancellation and amendment fees apply (typically around £25-£30). |
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Simple Structure: Flexible limits (£50k/£75k/£100k) make it easier to understand than complex tiers. |
Home Emergency: Usually an optional paid add-on (underwritten by partners like Inter Partner Assistance). |
Customer reviews
Tesco Bank generally performs well in consumer ratings, benefiting from the trust associated with the supermarket brand.
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Trustpilot: Tesco Bank as a whole is rated Excellent (approx. 4.3 out of 5). Customers frequently praise the ease of purchase and the Clubcard discounts, though some negative feedback exists regarding administrative processes.
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Fairer Finance: They have previously been awarded 4 Stars for their home insurance, indicating a strong level of features and transparency.
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Which?: Tesco Bank is often a Which? Recommended Provider for home insurance, recognized for offering good value for money and solid policy coverage.
How to get a Tesco Bank home insurance quote
You can apply for Tesco Bank home insurance directly through their website or via major comparison sites. However, going direct means you only see one price—theirs.
To ensure you aren't missing out on a better deal with more comprehensive cover (or a cheaper price for the same features), it is wise to compare their offering against the wider market.
Independent insurance advisers can check if the "Clubcard Price" is actually cheaper than a specialist policy from a competitor.
At Money Helpdesk, our home insurance experts can help you review your options. If you are wondering whether Tesco Bank is the right choice for your home insurance, get in touch and we will review this for you.