LONDON, June 18, 2013 /PRNewswire/ --

Teachers Assurance, the financial services provider for teachers and their families, has today announced the launch of their Defaqto 5 Star Rated Home Insurance policy. The Defaqto rating means the company now provides one of the most comprehensive policies on the market with newly added features in order to benefit their customers. The improved Teachers Assurance Home Insurance policy launches today, and is designed to provide a heightened level of coverage and protection for customers.

The policy provides many benefits to customers as standard, including annual discount for teachers and NUT members (up to 12%), cover for school equipment in and away from the home, accidental damage cover at no extra cost and no compulsory excesses on all claims bar subsidence. Teachers Assurance customers can also spread annual premiums over 12 monthly direct debits, and pay no interest.

Abby Bowman, Head of Brand at Teachers Assurance believes the new rating adds great weight to the Teachers Assurance Home Insurance policy. "We understand that our customers would like the best possible cover on the market without paying extremely high premiums. Our Home Insurance has always been designed with teachers in mind, but recently we conducted vital research that provided us with insight into what is important to them. Teachers told us that they wanted reduced excesses and no administration fees, both of which have been factored into our new policy. We believe the additions we've made to our Home Insurance policy make it one of the best on the market."

Defaqto is an independent financial research and software company specialising in rating, comparing and analysing financial products and funds. Defaqto assesses the features and benefits offered by all policies on the market and awards each an easy-to-understand Star Rating. Star Ratings award a product or proposition a rating of 1 to 5, depending on the quality and comprehensiveness of the features it offers. A 5 Star Rating indicates that a product or proposition represents one of the best quality offerings in the market.

Mike Powell, Insight Analyst for General Insurance at Defaqto commented on the Home Insurance policy launch:

"When insuring their home it is essential that people match the features and benefits they require with those offered by the product they choose. If consumers focus on price alone they can run the risk of buying an inappropriate product that doesn't meet their needs - and they are only likely to discover this when they need to make a claim.

"Our Star Ratings provide an independent rating of the level of features and benefits offered by all home insurance policies on the market. They provide an at-a-glance view of where products sit in the market in terms of feature quality and comprehensiveness - with the aim of supporting consumers' financial decision making process. 5 Star rated products, such as the one offered by Teachers Assurance, are among the best quality propositions on the market."

Teachers Assurance offers a range of savings, investment, home insurance, health and life cover products for individuals and families that are designed with teachers in mind. If you'd like to find out more about the Defaqto 5 Star Rated Home Insurance policy and discuss your home insurance requirements, you can call on 0800-378-722 or visit http://www.teachersassurance.co.uk/home-insurance.

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Notes to Editor

About Teachers Assurance

• Teachers Assurance was set up in 1877 and today offers a range of savings, investments, home insurance products, health and life cover for individuals and families that are designed with teachers in mind
• Teachers Assurance does not offer financial advice. Instead, the company offers a financial education programme for teachers which includes Money Talks in schools and a range of online financial calculator tools
• As a friendly, mutual society, profits are invested to help support customers and future customers or shared with members
• Teachers Assurance was started by what was to become the National Union of Teachers in 1877. Although we are now separate to the Union, we still work in partnership and Teachers Assurance is endorsed by the NUT to provide financial services to members.

About Defaqto

• Defaqto is an independent financial research and software company specialising in rating, comparing and analysing financial products and funds.
• Defaqto Star Ratings provide an independent, unbiased mechanism for helping people instantly understand where a product or proposition sits in the market, awarding each a rating of 1 to 5 depending on the quality and comprehensiveness of the features it offers.
• Star Ratings now cover nearly 50 separate areas within General Insurance, Wealth Management, Life & Protection, and Banking.

Teachers Assurance is a trading name of Teachers Provident Society Limited (TPS), an incorporated Friendly Society No 372F. A member of the Association of British Insurers and the Association of Financial Mutuals. Teachers Provident Society Limited and Teachers Assurance Company Limited No 314801 are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Teachers Financial Services Limited No. 3401635 and Sovereign Unit Trust Managers Limited No. 2072297 are authorised and regulated by the Financial Conduct Authority. Teachers Management Services Limited No. 3401641 is not a regulated company. All companies are wholly owned subsidiaries of TPS. Registered in England and Wales. To help us continually improve customer service, calls may be monitored and recorded. 1321513

For further information:
Laura Bentham, Social Media & PR Executive
+44-(0)1202-435112
lbentham@teachersassurance.co.uk
http://www.teachersassurance.co.uk/press

SOURCE Teachers Assurance