Tesco Home Insurance has announced that it will no longer require home insurance applicants to estimate the rebuild costs for their homes.
The insurance provider says that it will provide insurance cover of us to £350,000 at no extra cost.
This decision comes after research revealed that 81 per cent of homeowners don't know what their home's rebuild value is.
Allan Burns, head of insurance at Tesco, says the insurance provider wants to make home insurance simpler and easier for customers.
He says Tesco also wants homeowners to "feel safe in the knowledge that if the worst happens, they don't have to worry about being adequately insured".
As part of the new Tesco Home Promise, home insurance applicants no longer need to rely on estimates or guessing when they fill out their applications.
At no extra cost, home insurance policyholders will receive additional cover through the postal code system that is used by the Royal Institution of Chartered Surveyors (Rics).
"This is a very real customer offer created directly from feedback from homeowners," Mr Burns says.
He adds that Tesco home insurance customers now have "a simpler purchase process as well as peace of mind at no extra cost".
Home insurance promise by Tesco
Financial Services > Home lnsurance > Home Insurance News
Home insurance promise by Tesco
Tue, 10 Jan 2006
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