Until 21 June Tesco Finance home insurance customers can get a massive 33 percent discount on their premium. Buy online and there is a further 10 percent discount available.
The discount offer is open to new Tesco Finance home insurance customers applying either online or by phone and is applicable to the first year of buildings and contents insurance. This level of discount is certain to attract plenty of interest in Tesco home insurance so it is a good job the policy itself is also a very good one.
A suggestion made by a Tesco Finance spokesman was to have a look at how their home insurance measures up against the competition since a discount of a third off the premiums for the year is a big saving.
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AA Insurance has asked the government to continue investing in flood defences as well as suggesting local councils should not approve building in high risk areas.
The floods of last year were exacerbated by the inability of the drainage systems to take the water away, aspects that the government can have a big say in. Around 180,000 claims were made last year following the floods said AA Insurance, costing insurers some GBP3 billion. There were also many people without home insurance who suffered as well, highlighting the need for both buildings and contents insurance to protect the most valuable assets people have.
Looking to the future there may be a situation where insurers like AA Insurance and others refuse to cover people for flood damage unless steps are taken to improve the defences available. Such a scenario would be a nightmare for homeowners of course. An alternative may be higher premiums, though the increase would be large in order to cover the potential risk, again leading to many consumers being unable to afford the cover they need.
According to Tesco Finance the cost of not changing home insurance companies last year totalled GBP26 million.
The study found that almost two thirds of people remained with their existing insurance providers when it came to renewal time, even though almost half of them saw the cost increase over the previous year. For around 4 million of them the increase was more than the level of inflation, said a Tesco Finance spokesman, even though only a small number of these had increased their cover or made a claim.
The advice that comes out loud and clear from Tesco is that everyone should at least get a couple of alternative quotes at renewal time to make sure they are getting the best home insurance deal available.