Home insurance launch for Sainsbury's shoppers

The average price paid for home insurance has fallen to its lowest levels in at least a decade, according to the Association of British Insurers (Joe Giddens/PA) (PA Archive)

Sainsbury's Finance has launched two new home insurance products aimed at Sainsbury's shoppers.

Those with a Nectar loyalty card, who buy the standard insurance, will receive a discount of up to 15 per cent on their premiums. However, shoppers who take out the Premier Cover Home Insurance will earn double Nectar points on their groceries for two years – the equivalent of up to 2 per cent off their shopping bills, according to the supermarket.

It says that for a customer regularly spending £100 a week, the value of the Nectar points will be £104 a year, equivalent to 49 per cent of the average combined building and contents home insurance premium.

Andrew Hagger, of the price comparison website Moneynet.co.uk, says: "If you are a Sainsbury's customer and live in a safe area with low premiums, it is probably a good deal. If, however, your premiums are around £800 to £900 a year, it is still worth shopping around."

Until 4 June, customers can receive 12 months' cover for the price of nine on Sainsbury's buildings, contents and combined buildings and contents insurance, and a further 20 per cent discount if they buy online.