Tesco cuts home insurance cost by 50%

Tesco has reduced the cost of its home insurance package for new customers who buy online by half. A 45 per cent discount will be available to those who take up the offer over the telephone.

The offer is available for a limited time only and will apply to both buildings and contents cover for customers who buy a policy between July 19th and August 6th.

These customers will receive the discount in the first year of their package and can still claim it if their current policy is not due for renewal.

If a quote is obtained before August 6th, this will be held by Tesco for up to 90 days until the date at which the policy can be commenced.

Allan Burns, head of Tesco home insurance, said: People look forward to bagging a bargain in the summer sales so why shouldn’t they enjoy the same from their home insurer?

While some companies offer a discount on either buildings or contents, we wanted to make it a real summer sale by reducing all our policies to half price.

The home insurance offer from Tesco is underwritten by UK Insurance Limited. The supermarket’s personal finance arm was launched in 1997 and currently has over five million customer accounts