Sainsbury’s has expanded its Finance offering with the relaunch of its motor insurance business.
Under the revamped initiative, the supermarket chain will offer customers standard and premier car insurance policies, backed by new partner RBS Insurance .
Nectar card holders will be able to receive a discount of up to 15 per cent on their insurance premiums as well as double points on their shopping for two years.
The move is part of a wider plan to expand the Sainsbury’s insurance division and follows in the footsteps of rival Tesco, which already offers car insurance as part of its finance portfolio and is believed to hold a 5 per cent share of the UK motor insurance sector.
David Fisher, chief executive of Sainsbury’s Finance, said: “Not only will we deliver competitive premiums, through our double Nectar points initiative, we’re also giving motorists the ability to save money in store and at the forecourt.”
“Our aim is to significantly grow our insurance business over the next five years and motor insurance is key to this strategy.”
Ben Tyte, head of motor insurance at Sainsbury’s Finance, added: “We believe the quality and uniqueness of our car insurance proposition will prove popular with the Sainsbury’s shopper as they see the savings they can make on their premiums but also their weekly shop.”
