Tesco is moving into private landlord insurance.
Its new products are designed for customers who privately let out a property, or who own a second home for holiday purposes.
Applicants will have access to partner company Prestige Underwriting and its Open & Direct brand.
The launch builds on Tesco Insurance’s existing relationship with Prestige Underwriting and expands the range of insurance options available to Tesco customers.
Customers will be able to access the products online or over the phone, with Prestige responsible for sales, servicing and claims.
A Tesco Insurance spokesperson says: “We know that for some customers’ their insurance needs can extend beyond their main home, whether they own a holiday property or rent out another property.
“By expanding our relationship with Prestige Underwriting, we can give customers access to specialist insurance designed for these types of properties.
“We’re pleased to be increasing the range of insurance products available to Tesco customers and making it straightforward for them to access specialist cover when they need it.”
And a Prestige Underwriting representative comments: “Holiday homeowners and private landlords are an important part of the property insurance market, with needs that require specialist understanding. Helping them access cover that reflects how their properties are used is central to this partnership.
“Building on our existing relationship, Tesco Insurance’s reach and established customer relationships will help us bring our specialist expertise to more people through Open & Direct. Together, we can help customers find cover suited to their needs, supporting Tesco’s ambition to make insurance more rewarding and become the insurer of choice for Tesco customers.”
This article is taken from Landlord Today