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Lloyds Bank car insurance

Lloyds Bank is well-known as a high-street bank, but it also has an insurance operation with millions of policyholders.

How good is Lloyds Bank car insurance?

Defaqto rating: 3/5 stars

Lloyds Bank car insurance is rated as three star by Defaqto, an independent financial research company which compares financial products.

Note: Not all Defaqto products with the same star ratings have the same covers and terms.

Trustpilot rating: 1.5/5 stars

TrustPilot has given Lloyds Bank Car Insurance a rating of 1.5 out of five based on over 100 reviews. Some 88% were dissatisfied but this number also includes home insurance so ratings may not fairly reflect car cover. There is no separate rating for motor insurance.


About Lloyds Bank insurance

Lloyds Bank car insurance is part of one of the UK’s largest financial groups. Besides the high street and online bank, it also includes Halifax, Scottish Widows and Bank of Scotland. 

Including cover issued under Halifax and Bank of Scotland names, the bank has some two million policyholders. 

It is contactable online and by phone. It is not available through independent insurance brokers. 

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Lloyds outsources car insurance

Lloyds Bank Car Insurance is arranged and administered by BISL Limited. This company, based in Peterborough, provides or partially provides car, van and motorcycle cover under several names including many leading banks, as well as its own brands such as Bennetts, Budget and Dial Direct.

How does that work?

BISL arranges cover on each policy through a variety of underwriters. These vary from policy to policy. Claims and other policy matters are dealt with by BISL although phone calls may be answered with 'Lloyds Bank car insurance'. 

Does Lloyds Bank car insurance offer discounts to bank customers?

Bank customers can gain a 10% discount on their first year on policies. Prospective customers should shop around, however, irrespective of their bank. 

Lloyds Bank car insurance policies

Lloyds Bank standard car insurance cover

Lloyds Bank additional car insurance cover options

What is Lloyds Bank car insurance best for?

  • If you want to use RAC roadside assistance

  • Travel in Europe

Lloyds Bank Car Insurance in the news

The Financial Times reported in June 2020 that Lloyds intended to extend its insurance operation.

Complaints data

The Financial Ombudsman Service received fewer than 10 car insurance complaints about Two Lloyds Bank companies (possibly just one each) in the first half of 2020. But Lloyds Bank’s provider, BISL, received 76 complaints. To put complaints in context, 67 firms had 10 or more complaints each and those totalled 4,550 complaints. Nearly 200 firms had fewer than 10 each, sharing just 479 complaints between them.

Get a car insurance quote

See a range of car insurance quotes in just a few minutes when you compare with Uswitch