Sainsbury's Bank has launched a new policy that aims to reduce the cost of house insurance cover.
The new insurance offers an unlimited amount of cover for both buildings and contents and has been accompanied by a ten per cent fall in premium rates.
"Unlimited cover gives our customers peace of mind, but we've never believed that people should pay over the odds for that," said Sainsbury's Bank's home insurance manager, Robert O'May.
Mr O'May also dismissed recent claims by the Association of British Insurers that many providers will be forced to increase prices following new Financial Services Authority regulations concerning the selling of insurance.
"Sainsbury's Bank has no plans to increase prices to cover these extra costs and this price reduction," added Mr O'May.
The new unlimited cover has been awarded a five star cover rating by independent analyst Defagto.
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