Late Tax Return can invalidate your Home Insurance

mervynbt

Tesco Bank have just invited me to renew my Home Insurance (House + Contents). In the small print it states:
".. cover applies only if you have:

a) Maintained proper, complete,truthful and up to date (tax) records
b) Made all returns at the due time
c) Provided all information that the HM Revenue and Customs reasonably requires

In other words; if you have ever been late filing a tax return or are in any dispute with the Taxman, your house may not be insured!
Personally I am incensed and will not be taking up Tesco's invitation. Has anyone else been affected by this change?

Quentin

mervynbt wrote: »

Tesco Bank have just invited me to renew my Home Insurance (House + Contents). In the small print it states:
".. cover applies only if you have:

a) Maintained proper, complete,truthful and up to date (tax) records
b) Made all returns at the due time
c) Provided all information that the HM Revenue and Customs reasonably requires

In other words; if you have ever been late filing a tax return or are in any dispute with the Taxman, your house may not be insured!
Personally I am incensed and will not be taking up Tesco's invitation. Has anyone else been affected by this change?

You have misunderstood.

Read the policy again

The extract you quote is nothing to do with your house being insured

(It relates to a condition for the add on cover for household legal insurance)

antrobus

This is perfectly true, anyone can download the policy t&cs here and confirm for themselves.
http://www.tescobank.com/insurance/homeins/policy-info.html

On the other hand, we are talking about the Legal Insurance option, where Tesco is simply making it clear that whilst they will pay out for "Standard advisers’ costs incurred by an Accountant if you are subject to a formal aspect or full enquiry into your personal tax affairs" there are certain exclusions as you have specified.

Those exclusions don't apply to anything else.

mervynbt

Ah ha, thanks to Quentin and antrobus for their clarification.
I was reading the Summary of Key Changes that came with my letter and it wasn't clear which sections were affected. It pays to read the full documentation!