Lloyds Bank Home Insurance has launched a simple, low-cost contents insurance product, making it easier to insure every-day items.
Working with fintech company Trov, Lloyds Bank Flexible Contents Insurance is a monthly subscription-style policy.
Jeremy Ward, Head of Home Insurance at Lloyds Bank, said: “For a lot of people, taking out contents insurance falls into the category of things that we all know we should do, but never get round to doing.
“And a recent report from Mintel supported this, finding that a third of people don’t have home insurance and almost two thirds (64%) of renters don’t have contents insurance.
“Many also think that they don’t need contents insurance. However, when you add up the cost of expensive items in an average home, such as mobile phones, laptops, tablets and bikes, having to replace any of these items could prove expensive.
“Lloyds Bank Flexible Contents Insurance therefore aims to make it easier to take out cover, giving policy holders the flexibility to stop or change their insurance at the touch of a button.”