Tesco insurance - using online discount

  VNAM75 21:54 26 Jun 2007

I want to renew my Tesco home insurance and take advantage of the online discount. But the text states

"35% discount online in your first year with Tesco Home Insurance"

However, since I will be in my "second" year of insurance with them and therefore I have already had the online discount in my first year, would the insurance still be valid if I purchased the cover online rather than accept their renewal quote?

  spuds 23:50 26 Jun 2007

I have just had a similar exercise, with another insurance company, not Tesco. Received my 2nd year renewal, checked on-line with same company, ticked the box which asked me if I already had insurance with them. I ticked the box stating that I was insured by them. Received a quotation, well below the renewal letter quotation.

Thinking this over, I decided to check with the insurances customer services. The adviser did a price check, and stated that she was unable to match the on-line price, even though it was the same company. After further discussion with the adviser, I decided to try elsewhere, and was able to obtain similar insurance cover at a much lower price through Argos.

  dth 11:41 27 Jun 2007

The insurance company is obviously trying to attract business with the 1st year discount and then hope the business sticks in subsequent years at full premium rates.

As Spuds has done do a fresh check on the different insurance companies to find what the current best rates - based on your circumstances - are. The car insurance market changes on a week-by-week basis - with companies increasing their margins and others cutting their rates for extra business.

The one point to watch out for is to make sure that a courtesy car is provided in the event of a claim - so that you are not left stranded. Some companies do not include this as standard - which can reduce the premium marginally - but is not much good for you if your car needs to go into the garage for 3 weeks of repairs.

  spuds 11:56 27 Jun 2007

A couple of points worth mentioning. Tesco only provide the insurance contact link (similar to other Tesco services), and the actual insurance company is a third party concern or company, who may offer different rates to different applicants from different contact sources.

In the case of my new accepted insurance cover, I forget to add accidental cover in the on-line costings, so made a phone call to Argos's insurance provider. As it turned out, accidental cover was added at a later stage off-line and provided at no extra cost, so an even better saving in the long term.

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