Background to M&S Insurance
While best known as a premium British department store, Marks & Spencer has been providing financial products since 1985, when the company launched St Michael Financial Services. Since then, the company has expanded to offer personal loans, ISAs, home insurance and credit cards, and in 2004 began selling car insurance.
Now operating under the name ‘M&S Bank’, the brand offers ‘new-fashioned banking’ to millions of customers across the UK, and has won numerous awards, including Intelligent Choice awards and Which? recommendations for its car insurance product.
Overview of cover provided by M&S Bank car insurance
Unlike many insurers, M&S car insurance provides comprehensive cover only, at two levels: standard and premier.
Both cover levels offer cover against loss, theft or damage to the vehicle, loss or damage to property in a vehicle, personal accident cover up to £10,000, child seat cover, uninsured driver protection, a courtesy car, European travel cover and approved repairs guaranteed for three years.
Premier cover comes with the added benefits of a guaranteed replacement car for up to 28 days after an accident, motor legal protection up to £100,000 and UK and European breakdown cover worth £347.95, although these can be included on a standard policy at an extra cost.
Whether you choose premier or standard cover, every customer is assigned a UK-based personal claims manager in the event of an accident, helping the claims process to run smoothly.
If you're looking for a separate breakdown policy, have a look at our guide to the 13 best breakdown cover providers.
How much does M&S car insurance cost?
The cost of car insurance with M&S will depend on a number of factors, including your vehicle make and model, your address and the level of cover you require.
However, it’s worth bearing in mind that M&S only offers comprehensive cover, and so its policies will likely be more expensive than other providers who offer third party or third party fire and theft. That said, M&S typically targets the more affluent demographic, and so its customers are usually prepared to pay a little more for a quality, reputable product.
M&S cardholders can also benefit from a discount up to 15% when purchasing or renewing a policy online.
And if you shop at M&S you will also receive a £50 voucher to spend in store if you take out a new Premier policy.
What do M&S Bank car insurance reviews from customers say?
Customers leaving reviews on Which? meanwhile, give the company a customer satisfaction score of 65%, putting it 7th on the list of 31 insurers reviewed.
What do M&S Bank car insurance reviews from the experts say?
According to reviews by Which?, M&S car insurance scores a policy rating of 62%, placing it 29th out of 31 car insurers.
Once combined with the customer satisfaction score, its overall rating is 64% placing it midway on the leader board, at 15th out of 31 car insurers.
On Defaqto, the independent reviewer of financial products, M&S car insurance at both standard and premier levels scores the four stars, meaning both products "provide a high quality offering in terms of the features and benefits they include."
The company has won a number of industry awards over the years, both for its car insurance and other financial products, helping to establish the brand as a major reputable player in the insurance field.