Sainsbury's Home Insurance is asking other insurance companies to make their household insurance policies easier to understand and says that customers are missing out on potentially huge savings .
Research conducted by the supermarket's insurance company found that 26 per cent of home insurance policies did not offer a no-claims bonus and 74 per cent of those which did offer no-claims discounts, didn’t give any details as to how customers were supposed to claim it. Sainsbury's suggested that this could leave customers feeling confused as well as significantly worse off financially.
Neil Laird, home insurance manager for Sainsburys, said: "A no-claims discount can significantly reduce your premiums. We do not see any reason why insurers should offer no-claims discounts on their car insurance policies but not on their home insurance."
Mr Laird added that it was startling that so many insurers were not being forthright about how their no-claims bonuses worked.
Supermarket insurer says home insurance policies need to be clearer
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Supermarket insurer says home insurance policies need to be clearer
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