Value Car Insurance

13.06.2006 The supermarket giant, Tesco, hase recently launched a new product; Tesco Value Car Insurance. The insurance is aimed at the 2.5 million motorists currently unable to afford full cover and who are reliant on third party insurance.

The Value insurance aims to bridge the gap between third party and fully comprehensive cover by providing customers with insurance at a more affordable rate.
The supermarket carried out research on 250 motorists with third party insurance to find out why they opted for this kind of cover and the kind of product which would most benefit them. The results showed that half of motorists didn’t feel the value of their car could justify the added cost of full insurance and a quarter couldn’t afford the cost of comprehensive car insurance. The car insurance which was launched in May  keeps the cost of Value insurance down by trimming the benefits and removing some of the options customers said they would be willing to give up for a cheaper premium.
The insurance is only available online and customers must be at least 21 years old. You can get cover the day you visit their website and quotes can be given over the phone. The insurance may be paid in one lump sum or spread out over monthly premiums subject to Tesco’s criteria. Among the many benefits, Value insurance guarantees parts and repairs for one year, a standard excess of £475, 24-hour accident recovery, cover for personal belongings and full no claims discounts up to 70% motor legal protection.
The new insurance should help some of the 87% of respondents, in Tesco’s research, who said that they desired full cover, but would only be able to purchase it if it was priced comparably with third party insurance.