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Tesco Bank home insurance review

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

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

Who is Tesco Bank?

Tesco Personal Finance was born out of a partnership between Tesco plc and Royal Bank of Scotland in 1997. 

In 2008 Tesco bought out RBS' share and rebranded as Tesco Bank, which today offers a wide range of financial products from home insurance and car insurance to credit cards, personal loans and mortgages.

Tesco Bank is owned by Tesco plc is a publicly owned company, which is traded on the London Stock Exchange. 

What does Tesco Bank Home Insurance

The information below gives an at-glance view of the key things that Tesco 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.

 

 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.

 

 Garden cover

 

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

 

 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.

 

 24 hour (emergency) helpline

 

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

 

 Personal posessions

 

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

 

 Legal expenses

 

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

How Which? rates Tesco Bank's home insurance policy

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
Tesco 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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Tesco Bank’s home insurance policy: is it good or bad?

In February 2019, we analysed and rated 60 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, 51 out of the 60 elements policy elements we analysed in Tesco Bank's home insurance earned a 3-star rating or higher.

A total of 29 of Tesco Bank's policy elements were given a full 5-star rating and 20 scored a 3-star rating, which indicates an above average level of cover.  

Best parts of Tesco Bank's home insurance policy

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

  • Unlimited cover for loss and theft of keys, which we gave 5 stars
  • Up to £20,000 for a single item specified on your policy, which scored 5 stars
  • Storm damage to fences included as standard, which earned a full 5 stars

Worst parts of Tesco Bank’s home insurance policy

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

List three features that the policy scored lowest in Tesco Bank's policy:

  • No discount for buying buildings and contents together, which we gave 0 stars
  • A £25 adjustment fee, which scored 1 star out of 5
  • Only £1,500 of cover for contents left in the open, which earned 2 stars

In detail: every part of Tesco 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 Tesco Bank's home insurance compares to other policies check out our guide on the best and worst home insurance.

How did customers rate Tesco Bank's home insurance?

As well as looking at how Tesco 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, Tesco Bank home insurance scored 71% for customer satisfaction, placing it 10th out of the 34 home insurers we looked at.

Customers scored Tesco Bank's 'value for money' the highest, giving it four stars out of five. Tesco Bank's 'application process' was among the lowest scoring features and only received 3 stars. 

The table below shows how Tesco 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 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 Tesco Bank offer different levels of home insurance cover?

The scores shown in this review relate to Tesco Bank's standard home insurance policy.

It is possible to increase your level of cover by adding optional extras to your policy. For example, you might want to add bicycle cover, home emergency cover and legal expenses. 

Choosing to add these features on to your policy will come at an added cost, making your policy more expensive than a standard one.

How much does Tesco 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.

Tesco Bank allows you to gather quotes on its own website at www.tescobank.com/home-insurance.

But you can also compare Tesco 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 Tesco Bank's claims number?

If you need to make a claim with Tesco Bank, the number you need to call will depend on which insurer from their panel is underwriting your policy so you'll need to check your policy schedule or Tesco Bank's website.

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.

Tesco Bank scored 75%, placing it 9th out of 21 home insurers. It scored four stars for the speed of dealing with a claim, and three stars for how it communicated about the progress of claims.

Find out how it compared to other insurers in our guide making a home insurance claim.

Who underwrites Tesco Bank's home insurance?

Tesco Bank's home insurance policy is underwritten by Tesco Underwriting, AXA, RSA, L&G, Towergate.

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