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Tesco Home Insurance

Tesco was founded in 1919 by Jack Cohen as a group of market stalls. The Tesco name first appeared in 1924, after Cohen purchased a shipment of tea from T. E. Stockwell and combined those initials with the first two letters of his surname and the first Tesco store opened in 1929 in Burnt Oak, Middlesex. His business expanded rapidly, and by 1939 he had over 100 Tesco stores across the country. Originally a UK-focused grocery retailer, since the early 1990s Tesco has increasingly diversified geographically and into areas such as the retailing of books, clothing, electronics, furniture, toys, petrol and software; financial services; telecoms and internet services; DVD rental; and music downloads.

In the United Kingdom Tesco offers financial services through Tesco Bank, formerly a 50:50 joint venture with the Royal Bank of Scotland. Products on offer include credit cards, loans, mortgages, savings accounts and several types of insurance, including car, home, life and travel. They are promoted by leaflets in Tesco's stores and through its website. The business made a profit of £130 million for the 52 weeks to 24 February 2007, of which Tesco's share was £66 million. This move towards the financial sector diversified the Tesco brand and provides opportunities for growth outside of the retailing sector. On 28 July 2008 Tesco announced that they were buying out the Royal Bank of Scotland's 50% stake in the company for £950 million. In October 2009 the name of Tesco Personal Finance was changed to Tesco Bank.

Tesco offer Defaqto Five Star rated home insurance with an excellent range of standard features including unlimited buildings cover. Tesco claim that 50% of Clubcard members pay less than £189 for combined building and contents insurance. Standard buildings cover includes unlimited rebuilding cover, permanent fixtures including kitchens and bathrooms cover, alternative accomodation and lost of stolen keys cover. On top of this you're also covered for accidental breakages of glass and sanitary ware permanently fixed in your home. These include your bathroom suite, glass in doors and windows and even solar panels. Finally you're also covered against burst pipes and blocked sewer pipes.

Contents cover is £75,000 as standard but can be increased to £100,000 if required. Electrical items such as laptops, tablets and TV's are covered for accidental damage as standard, and other items such as soft furnishings can be added for an additional premium. Garden equipment is covered up to £1,500 and you're also covered for up to £2,000 worth of downloaded media. Home offices that are used for admin, clerical or child minding work are covered up to £10,000 for furniture and electrical items such as computers and printers.

Tesco home insurance also has some excellent optional extras on offer including extended accidental damage, cover away from home, bicyle cover up to £2,500 for the family, home emergency cover and family legal guard.

New Home Insurance Policy:
0845 366 8632


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