Lloyds Bank Car Insurance Review

James Alston By

Key policy features of Lloyds Bank car insurance

  • Two cover levels to choose from: Standard and Comprehensive

  • 60 days cover driving in the EU and a 24-hour claims line

  • A replacement car if a car you registered in the past 12 months is stolen and not recovered

See if Lloyds Bank car insurance makes it into our list of the best car insurance companies.

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Overview of the car insurance provided by Lloyds Bank

Lloyds Bank is one of the 'Big Four' British clearing banks, and the largest retail bank in Britain.

It offers a range of insurance products including home, life, landlord, van, mobile phone, business, travel and car insurance. Its car insurance is arranged and administered by BISL Limited.

Lloyds Bank offers two levels of car insurance: Standard and Comprehensive. Both levels include 60 days cover driving in the European Union, as well as a 24-hour claims line and an online Self-Service Centre, on which you can change your policy at any time.

Its Comprehensive cover gives you a 24-hour windscreen helpline, three years guarantee on all approved claims repairs and cover against uninsured drivers and acts of vandalism.

And if a car you've bought in the last 12 months is stolen and can't be recovered, Lloyds can provide a new car for you.

Its insurance policies also include Guaranteed Replacement Car Cover for no additional cost for 12 months. This is a car you can use for up to 28 days if yours has been stolen, written off or damaged due to a fire or accident claim.

This is different to courtesy car cover (which is only available on the Comprehensive policy), as courtesy car cover won't be able to give you a replacement car if yours is stolen or written off.

Replacement car cover can provide a car for you if a courtesy car isn't available immediately.

Lloyds Bank also offers a number of additional extras that will come at an additional premium. These include a no claims discount protection, which will allow you to make two claims that are your fault within a three year period without losing your no claims discount.

It also offers motor legal protection of up to £100,000, starting from £30.99 per year. This can provide legal cover if you're in danger of being suspended or losing your licence, as well as help with obtaining compensation for personal injury.

You can also add RAC breakdown cover at an additional cost, starting at £43.99 per year, and Keycare cover, which can pay for a new set of car keys if yours are lost, starting from £7.99.

Find out if these cover levels put Lloyds into our list of the best car insurance companies.

Are there any exclusions with Lloyds Bank car insurance?

There are some exclusions to Lloyds Bank car insurance, many of which are common to most car insurance companies. For instance, Lloyds won't cover you for any track days or off-road events, and won't pay out for damages due to things like war or terrorism.

Bear in mind that to get a car from Lloyds on its Guaranteed Replacement Car Cover, you'll have to make your claim within 14 days, and you can only use the car for up to 28 days.

If your car is stolen and it was registered in the last 12 months, Lloyds can provide a new car for you.

This cover only applies if the cost of repairing the car is more than 60% of the cost of buying an identical car at the time it was damaged. If an identical car isn't available, Lloyds will try and provide a similar car that costs the same amount.

Make sure to read your policy documents thoroughly so you know exactly what you are covered for.

How much does Lloyds Bank car insurance cost?

It's hard to predict exactly how much car insurance from Lloyds Bank will cost as a range of factors affect the price of a premium. These include the car you drive, how long you have been driving for, where your car is kept overnight and where you live.

The best way to find out how much you'll have to pay is by getting a quote. Read our article on the cost of car insurance for more information.

Are any discounts available with Lloyds Bank car insurance?

If you are a Lloyds Bank customer and get a quote through online banking, you'll receive a 10% discount on your first year of car insurance. This offer excludes any optional extras you may have chosen.

On top of this, as with most car insurance companies, Lloyds offers a no claims discount. Lloyds Bank says if you have eight or more claim-free years, you could get a discount of up to 60%. This is based on 37% of customers who bought a new policy with Lloyds Bank between February 2016 and February 2017.

Customer reviews of Lloyds Bank car insurance

Lloyds Bank car insurance has been awarded 1.4 out of 5 on Reviewcentre.co.uk based on over 110 reviews, with 10% of customers recommending the product.

Lloyds Bank as a whole has been awarded 4.4 out of 10 based on roughly 100 reviews on Trustpilot.

And on Reviews.co.uk, the company has a rating of 3.07 out of 5 based on 250 reviews.

Bear in mind that these last two ratings are of Lloyds Bank as a whole. This means they may not accurately reflect customers' experience of its car insurance.

Expert reviews of Lloyds Bank car insurance

On Fairer Finance, Lloyds Bank car insurance has been awarded 2 stars out of 5 based on the quality of its features.

And over on Defaqto, Lloyds Bank car insurance has been given a 3 Star rating out of 5.

A Star rating indicates where a product sits on the market based on the quality and comprehensiveness of its features.

How to make a claim on Lloyds Bank car insurance

To report a claim, you'll need to call Lloyds' claims line on 0344 209 0477. Lloyds suggests you have to hand:

  • The date and time and a description of the incident

  • The details of any third party involved, including their name, address, registration and insurance details

  • The names and addresses of any witnesses

  • A police incident reference number, if the police were called

It also gives a useful list of things you should do if you are involved in an accident, like taking pictures of the scene, not admitting liability and making a rough sketch of the accident. This list is available in its policy documents.
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