Hood Group delivers new ‘renters only’ product for Asda Money

Asda Money appoints Hood Group to launch its new home insurance

Leading affinity insurance provider, Hood Group, has extended its relationship with supermarket giant Asda with the launch of a new home contents insurance product designed specifically for renters under the Asda Money brand.

Hot on the heels of the launch of Hood Group’s 3 and 5 star Defaqto rated insurance products for home owners developed exclusively for Asda customers, this new product gives people living in rented accommodation, whether furnished or unfurnished, complete control of how much cover they take out so they simply pay for what they need.

With four cover options renters, including students and friends sharing a flat or house, can vary the amount of cover they need each year as and when their circumstances change. All the items that tenants may use to furnish their rented home are covered from lamps and linen to pots and pans, and renters can then bolt on additional options to cover items such as handbags, jewellery and watches, and sporting equipment that is often taken outside of the home.

Technology and entertainment equipment cover for items such as smartphones and tablets up to the value of £10,000 is available while renters can also choose pedal cycle cover for up to four bicycles both in the UK as well as up to 60 days abroad.

Michael Turner, Head of Insurance at Asda Money, comments: “We’re keenly aware that more and more of our customers are being forced to rent, often as a result of being unable to get on to the property ladder. We want to ensure that Asda Money offers these customers a bespoke and quality insurance option that suits all budgets and lifestyle needs so they aren’t over-paying to cover their own possessions. We’ve been delighted with the success of the insurance product that the Hood Group has delivered for our home-owning customers, and they were our natural choice of partner to develop this new offering on behalf of Asda Money.”

Simon Hood, Chief Executive at Hood Group, comments: “Just as we have done for Asda’s home-owning customers, we have come up with a solution that will make it quick and easy for their renting customers to choose the level of cover they need for their own possessions without paying over the odds. We’re incredibly proud to extend our relationship with Asda.”