Troubled retailer Marks & Spencer is entering the household insurance market.

M&S Financial Services will launch the product, claiming it avoids the “small print practices” of other insurers.

Customers will be offered zero excess, no inner limits on the policy up to £4,000 and a protected no-claims discount allowing one claim every four years. Building and contents value will not have to be declared.

M&SFS is one of the retailer’s few recent success stories, focusing until now on life insurance and savings. It made pre-tax profits of £106.6 million last year.

News source: The Times (London)