John Lewis Money relaunches its car insurance offer with new broker model

• The new proposition launches with Ageas, Axa and Covea Insurance, while RAC, Arag and Premium Credit will offer additional services
• New two-tier proposition (Premier and Essentials) gives customers more flexibility
• It follows the successful relaunch of John Lewis Money’s home insurance which - after moving to a broker model - saw 7 in 10 customers receive cheaper quotes

John Lewis Money has relaunched its car insurance offer. For the first time, it will act as a car insurance broker - comparing quotes from a selection of trusted providers, to find customers the most cost effective option from its panel.

It is working with three insurers to provide cover - Ageas, Axa, Covea - which have been chosen based on their experience, breadth of coverage, and customer service.

As a result of the expanded network, John Lewis Money will now be able to insure a much wider range of cars, including electric vehicles as well as higher value cars.

Gary Davess, Director of Insurance for John Lewis Money, said: “Becoming an insurance broker has been a step change to our business, and is already driving more competitive quotes for our home insurance customers. We’re excited to launch this model across our car offer, and have partnered with trusted names in the sector to deliver for customers."

Adam Beckett, Managing Director, Broker & Partnerships at Ageas UK, said: “We’re delighted to be strengthening our powerful partnership with John Lewis Money, just weeks after joining their home panel. This further collaboration builds real momentum while showcasing our personal lines expertise, giving customers greater flexibility to protect both their cars and homes.”

Managing Director at AXA UK Retail, Julie Barbey, said: “We're pleased to be further strengthening our partnership with John Lewis Money to now also offer car insurance customers across the UK a range of valuable cover options. With our support, its customers will have access to high-quality protection from brands they can trust for both their home and car insurance needs.”

Sue Coffey, Personal Lines Director at Covéa Insurance, said: "We are delighted to support the launch of John Lewis Money’s car insurance proposition. Following the successful launch of their home insurance panel earlier this year, this milestone further strengthens the long-standing relationship between our organisations and reflects our shared commitment to delivering exceptional outcomes for customers.

“John Lewis is one of the UK’s most trusted and respected brands, and we are proud to be part of a panel that combines high-quality insurance solutions with outstanding customer service. Through our close collaboration and continued focus on understanding the evolving needs of customers, we look forward to delivering greater value, choice and confidence to John Lewis Money policyholders."

Tiered proposition to offer customers flexibility

As well as moving to a broker model, John Lewis Money has redesigned its policies - introducing two tiers of car insurance, so customers can choose the right level for their individual needs.

The Essentials tier provides comprehensive cover, bringing John Lewis quality and service at a lower price point, while the Premier tier offers even greater protection.

Unlike some value propositions in the market, Essentials cover offers windscreen cover and courtesy car as standard, helping to ensure customers will still receive a John Lewis standard of service.

It has also introduced a new vandalism promise, protecting customers’ no-claims discounts against vandalism and pothole damage.

Additional customer benefits via third-party specialists

For the relaunch, John Lewis Money has partnered with the RAC and ARAG to give customers option access to breakdown cover and legal protection.

Customers paying monthly will also benefit from a reduced interest rate compared to previous policies, through John Lewis Money's new partnership with Premium Credit Limited.

Owen Thomas, Chief Sales Officer at Premium Credit said: “Being chosen by John Lewis Financial Services highlights the appeal and strength of our proposition and the experience we have in delivering market-leading premium finance solutions. We look forward to working closely with the John Lewis team and are committed to providing their customers with flexible payment options that allow them to manage the cost of their insurance with ease.”

Building on success and expanding the benefits of the broker model

John Lewis Money announced it had become a licensed insurance broker in March this year, marking a strategic step forward in the business’ plan to grow its customer base.

It relaunched its home insurance in April and, as a result of moving to a broker model, 70% existing customers are already seeing cheaper quotes.

The new insurance proposition is a cornerstone of John Lewis Money's mission to serve both existing Partnership customers and connect with new audiences.

The financial services arm of the John Lewis Partnership, John Lewis Money has over 1.4 million active customers, across a range of products including the Partnership Credit Card, insurance and travel money. The business plays an integral role in the Partnership’s broader retail strategy, enabling sales while strengthening customers’ relationships and trust in the brand.

Notes to editors

About John Lewis Money

John Lewis Money provides financial services including insurance, credit and travel money, helping to enable the John Lewis Partnership’s retail strategy and deepen customer loyalty across John Lewis and Waitrose.

Serving 1.4 million customers and with over 20 years’ experience, it facilitated £1.5bn of customer spend across the two brands last year.

Financial T&Cs

John Lewis Money Car Insurance is a trading name of John Lewis Finance Limited. Registered in England No. 15785347. Registered office: 1 Drummond Gate, Pimlico, London SW1V 2QQ. John Lewis Finance Limited is authorised and regulated by the Financial Conduct Authority for insurance distribution and credit broking (Firm Reference Number: 1018169).

Car Breakdown cover is underwritten by RAC Motoring Services a company registered in England (company number: 01424399) (FCA number 310208) having its registered office at RAC House, Brockhurst Crescent, Walsall, WS5 4AW.

Motor Legal Protection and Guaranteed Replacement Vehicle cover is underwritten by ARAG Legal Expenses Insurance Company Limited a company registered in England and Wales (company number:103274) (FCA number: 202106) having its registered office at Unit 4a Greenway Court, Bedwas, Caerphilly, Wales, CF83 8DW.

Pay monthly option for your car insurance is under a contract with Premium Credit Limited (a company registered in England with company number 02015200 whose registered office is at Ermyn House, Ermyn Way, Leatherhead, KT22 8UX). John Lewis Finance Limited acts as a credit broker when introducing you to Premium Credit Limited, not a lender. Premium Credit Limited will pay John Lewis Finance Limited a commission if your credit application is successful. Click here for more information. Missed or late repayments may affect your credit rating and access to credit in the future.

John Lewis plc. is an appointed representative for John Lewis Finance Limited for insurance distribution and credit broking. registered with the Financial Conduct Authority (Firm Reference Number: 416011). Registered in England No. 233462. Registered office: 1 Drummond Gate, Pimlico, London SW1V 2QQ.

John Lewis Money Home Insurance is a trading name of John Lewis Finance Limited. Registered in England and Wales company number 15785347. Registered office: 1 Drummond Gate, Pimlico, London SW1V 2QQ. John Lewis Finance Limited is authorised and regulated by the Financial Conduct Authority for insurance distribution and credit broking (Firm Reference Number: 1018169).

Pay monthly option for your home insurance is under a contract with Premium Credit Limited (a company registered in England and Wales with company number 02015200 whose registered office is at Ermyn House, Ermyn Way, Leatherhead, KT22 8UX). John Lewis Finance Limited acts as a credit broker when introducing you to Premium Credit Limited, not a lender. Premium Credit Limited will pay John Lewis Finance Limited a commission if your credit application is successful.

Home Emergency and Home Legal Expenses cover is underwritten by ARAG Legal Expenses Insurance Company Limited a company registered in England and Wales (company number: 103274) (FCA number 202106) having its registered office at Unit 4a Greenway Court, Bedwas, Caerphilly, Wales, CF83 8DW.

John Lewis plc is an appointed representative for John Lewis Finance Limited for insurance distribution and credit broking and registered with the Financial Conduct Authority (Firm Reference Number: 416011). Registered in England and Wales company number 233462. Registered office: 1 Drummond Gate, Pimlico, London SW1V 2QQ.