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Lloyds Bank home insurance review

Read Which?'s expert review of Lloyds Bank's home insurance policies, find out how we rate Lloyds Bank's contents and buildings insurance and how it compares to dozens of other home insurance companies.

In this article
Who is Lloyds Bank? What does Lloyds Bank's home insurance cover? How Which? rates Lloyds Bank's home insurance Lloyds Bank’s home insurance policy: is it good or bad? How did customers rate Lloyds Bank's home insurance policy?
Does Lloyds Bank offer different levels of home insurance cover? How much does Lloyds Bank's home insurance cost? What is Lloyds Bank's claims number? Who underwrites Lloyds Bank's home insurance policy? Get top money-saving tips from Which?

Who is Lloyds Bank?

Lloyds Bank dates back to June 1765, when John Taylor and Sampson Lloyd set up a private banking business in Birmingham. 

Today, Lloyds Bank offers a wide range of financial products including home insurance, car insurance, bank accounts and mortgages.

Lloyds Bank belongs to the Lloyds Banking Group, which owns other well-known brands such as Halifax, Bank of Scotland and Scottish Widows. 

Lloyds Banking Group is a public company, listed on the London Stock Exchange. 

What does Lloyds Bank's home insurance cover?

The information below gives an at-glance view of the key things that Lloyds Bank's home insurance covers as standard.

Elements marked with a are covered as standard and those marked with a are not covered as standard. However, these can be added to a policy as optional extras for an additional cost.

 

 Burst pipes 

 

Covers the cost of repairing burst pipes in your property.

 

 24 hour (emergency) helpline

 

Allows you to call a 24-hour helpline for assistance in the case of a home emergency.

 

 Loss and theft of keys

 

Loss and theft of keys will cover the cost of replacing your keys if they are ever lost or stolen.

 

 Home emergency

 

Home emergency cover provides assistance of central heating, electrical emergencies, plumbing or draining issues.

 

 Accidental damage

 

Accidental damage protects against sudden and unconventional physical damage to the structure of your property as well as your furniture and belongings.

 

 Legal expenses

 

Legal expenses cover the cost of legal expenses should you need to pursue legal action against another party.

 

 

 Personal possessions

 

Personal possessions cover protects your portable belongings while you’re outside of your property.

 

 Garden cover

 

Garden cover protects against damage to items in your garden including plants and garden furniture

How Which? rates Lloyds Bank's home insurance

To help you find the best home insurance policy, Which? goes the extra mile to sort the best from the worst.

We survey thousands of real home insurance customers to find out how they rate their insurer for customer satisfaction.

We also analyse and rate 60 different elements of contents and buildings insurance to create policy scores, helping you judge the quality of your cover - and how an insurer compares to its peers.

We combine this into an overall score to highlight the insurers that offer great cover and service.

Which? members can log in to see the results of our analysis. If you’re not already a member, you can sign up to a one month trial for Which? Money for just £1 to access this review and enjoy the benefits of a Which? membership.

Home And Mobile Insurance
Lloyds Bank review
Overall Which? score
%
Our total score score combines both the Which? Customer Score, ratings from real customers of the provider, and our expert analysis of the provider's policies. The total score is made up of 50% of the Customer Score and 25% each of Buildings and Contents policy scores.
Which? Customer Score
%
Which?'s rating for customer satisfaction, based on feedback from real customers. The score is made up of a customer's overall satisfaction with the brand, and how likely they are to recommend that brand.
Buildings policy score
%
Which?'s rating of the quality this company's buildings insurance policy. We analysed 32 features of its cover to calculate the policy score.
Contents policy score
%
Which?'s rating of the quality this company's contents insurance policy. We analysed 46 features of its cover to calculate the policy score.
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Lloyds Bank’s home insurance policy: is it good or bad?

In February 2019, we analysed and rated Lloyds Bank's of the most important elements of standard home insurance policies to come up with the overall policy score.

We assess how important each individual element is when choosing and using a home insurance policy, and weight it accordingly when calculating our total policy score. Each element is given a star rating, out of five.

Overall, 46 out of the 60 elements policy elements we analysed in Lloyds Bank's home insurance earned a 3-star rating or higher.

A total of 22 policy elements were given a full 5-star rating, and the same number were given a 3-star rating or below, which indicates an above-average level of cover.

Best parts of Lloyd's Bank's home insurance policy

We’ve identified three standout features in Lloyds Bank’s home insurance policy:

  • No fees for duplicate documents or payment defaults, which earned a full 5 stars
  • Up to £15,000 for possessions in your car, which scored 5 stars
  • Up to £10,000 for student contents cover, which we gave 5 stars

Worst parts of Lloyd's Bank's home insurance policy

We've identified three features in Lloyds Bank's home insurance policy which scored poorly:

  • No switching fee offered, which we gave 0 stars
  • A £100 minimum excess, which we gave 1 star out of 5
  • Only £250 for loss or theft of keys, which we gave 2 stars

In detail: every part of Lloyd's Bank's home insurance rated

Which? members can log in to see the results of our analysis. If you’re not already a member, you can sign up to a one month trial for Which? Money for just £1 to access this review and enjoy the benefits of a Which? membership.

Table last updated in February 2019. Next updated in February 2020.

Policy elements Details Rating Area covered
Interest charged on payment by installments (APR) Logged out detail Logged out padlock Buildings and contents
Renewal fee (£) Logged out detail Logged out padlock Buildings and contents
Home emergency cover - standard, optional, not covered? Logged out detail Logged out padlock Buildings and contents
Home emergency cover (£) Logged out detail Logged out padlock Buildings and contents
Owner's / Occupier's liability (£) Logged out detail Logged out padlock Buildings and contents
Accidental damage cover - standard, optional, not covered? Logged out detail Logged out padlock Buildings and contents
Subsidence - standard, optional, not covered? Logged out detail Logged out padlock Buildings only
Alternative accommodation (£) Logged out detail Logged out padlock Buildings only
Burst pipes - standard, optional, not covered? Logged out detail Logged out padlock Buildings only
Blockage of sewer pipe - standard, optional, not covered? Logged out detail Logged out padlock Buildings only
Single item limit for valuables - max limit (£) Logged out detail Logged out padlock Contents only
Contents in the open - within home boundary i.e. garden (£) Logged out detail Logged out padlock Contents only
Contents in outbuildings - including garages (£) Logged out detail Logged out padlock Contents only
Theft from outbuildings (£) Logged out detail Logged out padlock Contents only
Personal Possessions - standard, optional, not covered? Logged out detail Logged out padlock Contents only
Personal Possessions limit within a car (£) Logged out detail Logged out padlock Contents only
Bicycles - standard, optional, not covered? Logged out detail Logged out padlock Contents only
Mobile phones (away from home) - standard, optional, not covered? Logged out detail Logged out padlock Contents only
Does mobile phone cover include calls? Logged out detail Logged out padlock Contents only

To see how Lloyds Bank's home insurance compares to other policies check out our guide on the best and worst home insurance.

How did customers rate Lloyds Bank's home insurance policy?

As well as looking at how Lloyds Bank's home insurance policy stacks up against others, we've also analysed how customers feel about it too. 

Which?'s rating for customer satisfaction is based on feedback from real customers. The score is made up of a customer's overall satisfaction with the brand, and how likely they are to recommend that brand.

Overall, Lloyds Bank's home insurance scored 71% for customer satisfaction, placing it 10th out of the 34 home insurers we looked at.

Customers scored Lloyds Bank's 'application process' and 'clarity of policy' the highest, giving both four stars out of five. Their 'value for money' and 'dealing with queries' were among the worst rated features and were both given three stars.  

The table below shows how Lloyds Bank's home insurance scored for eight elements of customer satisfaction.

Customer satisfaction element Which? Customer Rating
Application process Logged out padlock
Clarity of policy Logged out padlock
Dealing with queries Logged out padlock
Ease of managing your policy online Logged out padlock
Transparency of charges/penalties Logged out padlock
Dealing with complaints Logged out padlock
Experience of making a claim Logged out padlock
Value for money Logged out padlock

Does Lloyds Bank offer different levels of home insurance cover?

The scores shown in this review relate to Lloyd Bank's standard home insurance policy. If you would like to take out home insurance with Lloyds Bank but need more cover, you could opt for the Lloyd's Bank Home Insurance Premier policy.

This policy offers:

  • Accidental damage included as standard
  • Garden cover included as standard
  • Unlimited cover for theft and loss of keys

Due to the increased level of cover, the Lloyds Bank Home Insurance Premier policy is likely to be more expensive than its standard home insurance.

How much does Lloyds Bank's home insurance cost?

Your contents insurance and buildings insurance will be priced based on your own personal circumstances, where you live and the type of property and contents you own.

Lloyds Bank allows you to gather quotes on its own website at home-insurance.lloydsbank.com/lloyds/quote/

But you can also compare the Lloyds Bank's home insurance on the following price comparison sites:

  • Comparethemarket.com
  • Confused.com
  • Gocompare.com
  • Moneysupermarket.com

Check out our guide for more information on how add-ons, fees, and charges affect the price of your home insurance.

What is Lloyds Bank's claims number?

If you need to make a claim with Lloyds Bank home insurance call 0345 300 0110.

According to Lloyds Bank, you'll be asked for personal details to confirm your identity, then they'll take the details of your claim.

After that, they'll let you know if you're covered under your policy and how much excess you'll need to pay. 

The acid test of any home insurance provider is how it handles your claim. In January 2019, Which? surveyed 1,456 members of the general public about their experiences using a major home insurance provider.

Lloyds Bank scored 72%, placing it 14th out of 21 home insurers. It scored three stars for its 'speed of dealing with a claim' and for 'how it communicates on claim progress'.  

Find out how it compared to other insurers on or guide making a home insurance claim.

Who underwrites Lloyds Bank's home insurance policy?

Lloyds Bank's home insurance is underwritten by Lloyds Bank General Insurance Ltd.

Its legal expenses cover is underwritten but DAS Legal Expenses Insurance Company Limited and the home emergency cover is underwritten by Royal & Sun Alliance. 

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