Co-op guarantees to beat its members’ home insurance renewal price

21 May 2018

  • New offer set to benefit Co-op’s 4.6 million members
  • All new eligible member home insurance customers will pay less than their current provider’s renewal quote

In a first for the Co-op, its insurance business is guaranteeing to beat its members’ combined home buildings and contents renewal price.

Co-op members* who take out a combined buildings and contents policy between today and 17 July will benefit from the offer which we will see customers pay less than their current provider’s renewal quote. Cover levels must match that of their current insurer, including any optional extras.

If Co-op Insurance isn’t initially cheaper than the member’s renewal price, it will refund any difference plus £1. Alongside the renewal offer, if a new customer buys direct from Co-op they will also receive £50 in Co-op Food vouchers.

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Caroline Hunter, Head of Home Insurance at the Co-op, said:

“We are delighted to be able to guarantee cheaper home insurance for our new member customers with this offer, alongside the peace of mind that should anything go wrong in their home, we will be there to help them. This is the first time we’ve offered customers something like this and, with the £50 in food vouchers they’ll also receive, we think this is a really good deal.

“This offer is part of a wide range of benefits that come with being a Co-op member and we would urge anyone who isn’t a member already, to become one. This is especially true of anyone whose home insurance is due to renew between May and July, who will save money simply by becoming a member.”

Benefits of Co-op Home Insurance:

  • 30% No Claim Discount for customers who have had no claims of losses in the past 12 months
  • £50,000 legal expenses as standard
  • Range of optional extras to ensure the right cover level for you including accidental damage and personal possessions insurance

Policies must be bought over the phone by calling 0800 085 4366 before 17 July and policies must start on or before 15 August.

To become a Co-op member visit the membership website or you can join at your local Co-op store.

Ends

Media Contact:

Jenna Moss
PR Manager
Email: Jenna.moss@coop.co.uk
Mobile: 07770 441 828

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Notes to editors:

*Offer does not include members who live in Northern Ireland.

**All new customers must provide proof of their renewal quote either by post or email within 30 days of taking out a policy. If we weren’t initially cheaper, refunds will be provided to the customer within 70 days of a policy starting.

About Co-op Insurance:

Co-op Insurance is part of Co-op Group, one of the world’s largest consumer co-ops, owned by millions of members. Alongside Co-op Insurance, we have the UK’s fifth biggest food retailer, the UK’s number one funeral services provider, and a developing legal services business.

As well as having clear financial and operational objectives, the Group is a recognised leader for its social goals and community-led programmes.