New five-year collaboration aims to support both companies’ ambitions to diversify and to grow in the UK home protection market
Leading UK gas and electric energy supplier, Co-op Energy, has signed a new deal with home assistance company HomeServe to offer insurance policies for a range of services to its 370,000 UK customers.
The new five-year partnership agreement supports the ambitions of both organisations to continue to diversify, to grow and to compete in the UK home emergency insurance and assistance market, worth more than £1.7 billion annually*.
A full range of home assistance products – covering electrical emergencies, plumbing protection and central heating and boiler breakdown cover – will be available from £3 per month for new and existing Co-op Energy customers, delivered under the Co-op Energy brand.
“We know that green energy is important to our members,” said David Bird, Co-op Energy’s CEO. “That’s why we offer 100% green electricity as standard and advise our customers on how they can reduce their consumption wherever we can.
“Part of that advice includes maintaining an efficient boiler and fixing any minor problems or faulty appliances quickly before they become a bigger issue or lead to wasted energy.
“Working with our partners at HomeServe to deliver a range of simple, good value new services that help achieve that therefore builds on the values that are at the heart of what we do.”
The suite of products – available to view at https://www.cooperativeenergy.coop/gas-and-electricity/boiler-cover/ - provide cover for gas central heating, boilers and supply pipes; plumbing, drainage and water supply pipes and home electrics.
Steve Ashton, Chief Partnerships Officer of HomeServe Membership, which was recently named the nation’s ‘Best Home Emergency Cover Provider’ in the 2019 Moneynet Personal Finance Awards for the fifth year running said:
“Our business is 25 years old and we’re proud to serve more than two million UK customers and more than eight million in countries across the world. Central to our growth throughout all this time has been strong, mutually beneficial and supportive partnerships, just like this new agreement with Co-op Energy.
“We work with many of the major water companies to deliver value add products like this and now we’re growing this type of programme with energy utilities, which is an exciting phase in our growth, diversification and expansion in the UK market. We look forward to giving many of Co-op Energy’s customers that added peace of mind when it comes to protecting their homes.”
* Data source: FInaccord’s market report of the Home Emergency Insurance and Assistance Market in the UK, 2018