tesco travel insurance excess

Tesco Bank launches Travel Insurance

23 March 2021

• Travel added to Tesco Bank’s award-winning insurance range that includes Pet, Home and Car
• Protection against Covid-19 related disruption as standard
• Three levels of Defaqto-rated cover are available, as well as optional extras and add-ons
• Tesco Clubcard points and a discount are available to Tesco Clubcard members

Tesco Bank has expanded its offering to customers with the launch of travel insurance.

Tesco Bank Travel Insurance will include Covid-19 cover as standard, to help protect customers who test positive and experience Covid-19 related disruption, either before or during their trip.

Three tiers of cover are available to suit a range of customer needs, offering different levels of protection for travel and belongings.  All policies come with core features that include cover for medical expenses, trip cancellation or delays, and lost or stolen baggage or money.

Customers can also tailor their policy with a range of helpful optional extras and add-ons, such as gadget protection and Winter Sports Cover.

Two specialist products are available aimed at backpacker travellers and customers aged over 80.

Policyholders will enjoy helpful rewards, including the ability for children under 16 to be covered for free on single and annual multi trip policies and the chance to save money on their travel insurance when they buy Tesco Travel Money first. Tesco Clubcard members who buy direct can save 5% and collect Clubcard points when they provide their Clubcard number.

Mark Airey, Tesco Bank’s Insurance Commercial Director, said:

“We’re proud to expand our award-winning insurance offering to Tesco shoppers with the addition of Tesco Bank Travel Insurance.

“We appreciate that the immediate outlook for travel remains uncertain, however the need for travel insurance is greater than ever – whether holidaying in the UK or abroad.  Offering Covid-19 protection as standard helps to give customers peace of mind they are protected should they test positive, and they have to cancel or cut short their trip.

“With a range of cover levels available to Tesco shoppers, we’re confident customers will find a policy that suits them and their holiday once travel at home and abroad is permitted.”

Tesco Bank has partnered with ROCK Insurance Group to manage the scheme, while ROCK has selected Axa Partners to provide underwriting, claims handling and medical assistance services.

Antony Martin, Managing Director at Rock Insurance Group said : “We are incredibly excited to be partnering with Tesco Bank to launch travel insurance to its customers. ROCK is providing Tesco Bank’s customers with a wide range of travel insurance products and services that are available online or via a dedicated call centre, meaning that more people will be protected and have the confidence to travel as soon as restrictions have eased.”

Paul Moloney, Sales Director at AXA Partners said : “We’re delighted to announce our new partnership with Tesco Bank to provide underwriting and other services for its new travel insurance proposition.

“It is our duty as insurers to safeguard customers’ trust; implementing solutions that provide assurance and protect what matters. We very much look forward to providing Tesco Bank customers with quality travel insurance cover both now, and when we are free of this pandemic.”

Tesco Bank Travel Insurance can be purchased by visiting https://www.tescobank.com/travel-insurance/  

Notes to editors

• Tesco Bank Travel Insurance is arranged and administered by Rock Insurance Services Limited and underwritten by Inter Partner Assistance S.A. UK Branch.
• Monetary limits, excesses and exclusions apply to cover.
• Covid-19 cover includes cancellation if you fall ill with Covid-19, medical claims whilst travelling, and curtailment (if you need to come home early) due to the illness of a close relative due to COVID-19 We don’t include cover for cancellation where the Foreign, Commonwealth & Development Office and local authorities advise against travel.
• Cover can be purchased on a single trip or annual basis and will be available to individuals, couples, families and groups of up to 12.
• Backpacker insurance is aimed primarily at travellers looking for cover for trips longer than three months or a variety of destinations, while the Later Life policy is designed for customers over 80 years old who may find it difficult to obtain cover due to pre-existing health conditions.

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Tesco Travel Insurance Review: How do Prices Compare?

• Getting a Tesco Clubcard discount
• Covering end supplier failure and virtual doctor acces (top-tier Premier Plan)
• Good add-on options
• Mobile phone only covered if you get the gadget add-on

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Tesco travel insurance offers 3 tiers of cover, from a bare bones Economy plan to their top-rated Standard and Premier covers. Here's what you need to know about what they offer.

In This Review

Tesco holiday insurance key points, is tesco travel insurance any good.

• Tesco Cruise Insurance

Tesco Holiday Insurance Price Comparison

Tesco holiday insurance types - economy, standard premier, tesco travel insurance vs admiral travel insurance, tesco travel insurance vs saga travel insurance, tesco travel insurance vs direct line travel insurance, tesco travel insurance phone number, tesco holiday insurance.

Tesco offers three levels of Annual and Single Trip travel insurance—Economy, Standard and Premier, which are underwritten by Inter Partner Assistance (par of the AXA group).

Trip cancellation is included on all policies, in addition to emergency medical expenses and travel delay.

The higher tiers include higher coverage limits and the top tier include access to a virtual doctor and end supplier failure, which can be a valuable feature.

Here are some key points:

• 3 levels of cover (Economy, Standard and Premier)
• Multi-trip cover for any number of trips up to 31 days each
• Single-trip cover for trips up to 365 days
• 10% Tesco Clubcard discount when you buy direct (enter your Clubcard number when you get your quote)
• Top-tier Premier policy includes end supplier failure and access to a virtual doctor
• Optional extras: winter sports, golf, gadgets, cruise and car hire excess insurance cover
• Covid cover includes : if you have to cancel or cut short your trip as a result of contracting COVID-19; medical treatment if you contract COVID-19 abroad; if you’ve got to return home early because the region you’re in goes into lockdown.

Does Tesco Travel Insurance Cover Trips in the UK? Holidays in the UK are covered under Tesco Annual Multi-Trip policies, so long as you pre-booked at least 2 consecutive nights of pre-booked accommodation or pre-booked transport at least 50 miles from home.

Pre-Existing Conditions: Tesco may be able to offer cover for some pre-existing medical conditions, for an added cost in most cases. If Tesco is not able to offer cover for your pre-existing conditions, then claims arising as a result of those existing conditions would not be covered. As part of the quote process you will be asked a number of questions about the health of you and your travelling companions.

Over 65s: The policy booklet states that the age limit for single and annual multi trip policies is 79 years old, with a max of 65 years for the winter sports add on. However, those 80 or older can call 0345 030 6127 to discuss a quote over the phone.

Tesco prices seem competitive relative to others in the market, considering the features. While their claims figures for 2021 left us with some questions, figures for 2022 look more promising. , has lower claims acceptance rates. The latest data from the Financial Conduct Authority shows that their underwriter, Inter Partner Assistance SA, accepted 70-75% of claims made on annual European policies in January to December 2022, just a touch below the industry average of 76.15%. In terms of worldwide policies, it accepted 80-85% of claims (much better than the 60-65% the previous year), just on target with the industry average of 81.56%.

Does Tesco Travel Insurance Cover Cruises?**

Cruise cover is available with Economy, Standard and Premier Tesco travel insurance policies as an optional add-on for an additional cost. Over 80s who buy Later Life travel insurance get cruise cover included as standard for no additional cost.

We gathered Tesco travel insurance quotes for a solo 30-year-old traveller, for single trip cover (2 week trip) and annual, multi-trip cover, across a range of geographical locations, and found prices starting from under £40 for a 2-week trip.

Oddly, we found that annual, multi-trip cover was in some cases cheaper than single trip cover, so if you think you can save money buying single trip cover be sure to check annual prices as well!

For example , single trip cover for a 2-week trip to France was quoted at £39.94, but an annual policy cover Europe was only £27.65, clearly the better deal there.

According to our research, prices of Tesco's provide good value according to the average cost of travel insurance .

Unsurprisingly, Tesco's Premier travel insurance is noticeably more expensive—Premier policies not only include higher levels of cover for baggage, trip cancellation, etc. but also include end supplier failure and virtual doctor access.

Not reflected in these prices is a 10% discount for Tesco Clubcard holders. You need your Tesco Clubcard membership number on hand when applying online to get the discount.

Insurance quotes can vary significantly from day to day and according to each individual's details, so please just use this data for general educational purposes only; your quotes may reflect a large degree of variation.

You can learn more about average costs for these locations in our other research on UK travel insurance costs for Europe and America .

Cover for a family of 4 is basically 2X the cost of cover for a solo traveller, because kids go free!

Tesco offers three tiers of travel insurance—Economy, Standard and Premier.

Optional extras that you can add on to all three tiers include winter sports, golf, cruise, gadget and car hire excess insurance cover.

Tesco Single Trip travel insurance covers trips up to 365 days abroad. Tesco Annual Multi-Trip policies cover any number of trips a policy year, up to 31 days each. Those under age 65 can extend the maximum trip duration to 45 or 60 days for an extra charge. There is a 15-day maximum trip length for Winter Sports trips, if that option is purchased.

Tesco Economy

Economy is Tesco's entry-level travel insurance plan. Emergency Medical expenses and Travel Delay are included, plus you get £1,000 per person for Trip Cancellation.

However, there's no cover for end supplier failure, no cover for missed inbound departures, no access to a virtual doctor and lower limits for most coverage categories across the board.

The excess is £99 per person.

Tesco Standard

As Tesco's solid mid-tier offering, Standard policies have similar features to the Economy plan, but offer cover for missed inbound departures and higher limits across most coverage categories.

The excess is £75 per person.

Tesco Premier

Tesco Premier is the top-tier travel insurance plan with the highest levels of cover across nearly all categories. Additional cover includes end supplier failure and access to a virtual doctor.

Another perk is that there is no excess with Premier plans if you have a successful claim.

Cover Limits (Single & Annual Multi-Trip) per Insured Traveller

Please read some of our Travel Insurance Guides if you're trying to decide between Single Trip or Multi-Trip policies, learn about What May Not be Covered by Travel Insurance or decide if you Need Travel Insurance or Not .

Tesco Travel Insurance Reviews

To better understand the value of Tesco travel insurance you need to look at it in the context of other available options. We compared it to other plans in the market so you can see which may be more suitable for you.

Admiral travel insurance offers three tiers of travel insurance cover, all for very competitive prices and including Personal Belongings protection.

Those looking for cover for catastrophes (e.g., volcanic ash cloud and storms) should consider one of Admiral's top two tiers—Gold or Platinum.

If your plans include a cruise in the next year, then Admiral offers comprehensive Cruise cover for an added cost (included on Platinum), which includes Missed Port Departure, Cabin Confinement, Unused Excursions and Cruise Interruption. Insolvency is not covered on Admiral plans, however.

Bottom Line: If your travel plans include a cruise, then Admiral might provide more comprehensive travel insurance for you—but you can buy cruise cover as an add on with Tesco.

Saga travel insurance if offered as one, simple travel insurance plan to those over 50 years of age—with no upper age limit.

We like that Saga includes cover for Catastrophe and a higher level of Personal Belongings/Baggage cover on all policies, plus Golf.

Another perk is that travellers whose international flight is delayed more than 2 hours can benefit from access to a LoungeKey airport lounge, as part of Trip Delay cover.

While travellers can be covered of any age, prices do rise steadily for older customers.

Bottom Line: If you are an older traveller, especially in your 70s or 80s, Saga may be a more viable travel insurance option for you, as they specialize in "mature" travellers.

Direct Line travel insurance plans include cover for End Supplier Failure and Natural Disasters, plus cover for the replacement cost of used points or miles in case of Cancellation/Curtailment for a trip bought with air miles or another rewards structure.

While prices are a bit higher than average, according to our analysis, you are getting these extra cover features.

One surprising extra is Baggage—you'll need to pay extra to cover your personal belongings as they're not included as standard—BUT once purchased, your mobile phone will be covered as part of Personal Belongings/Baggage.

Bottom Line: If you really want cover for your mobile phone when you travel, you can get cover through Direct Line's optional Baggage cover.

• Tesco travel insurance online claim form
• Tesco Travel Insurance Policy Wording

Erin Yurday is the Founder and Editor of NimbleFins. Prior to NimbleFins, she worked as an investment professional and as the finance expert in Stanford University's Graduate School of Business case writing team. Read more on LinkedIn .

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Tesco launches travel insurance cover.

Tesco Bank has launched its own travel insurance policy.

The insurance policy includes Covid-19 cover as standard. This cover will offer payouts for cancellation if you fall ill with Covid-19 before the trip, medical claims while travelling, and curtailment of your trip should a close relative fall ill with the virus. 

Cover is available at three different tiers, ranging from the basic Bronze policy through to the top level Gold cover. The latter cover includes additional features like allowing travellers to speak to a doctor online during the trip.

Travellers can also tailor their policy with a range of add-ons, including things like gadget protection and winter sports cover, while it can be purchased on a single or annual trip basis.

Tesco Bank already offers a range of different forms of insurance, including pet, home and car.

The travel policy comes with the added bonus of allowing Clubcard members to collect loyalty points when they take out a policy. Members pick up one point for every £1 spent on the scheme.

Mark Airey, insurance commercial director at Tesco Bank, said: “We appreciate that the immediate outlook for travel remains uncertain, however the need for travel insurance is greater than ever – whether holidaying in the UK or abroad.  Offering Covid-19 protection as standard helps to give customers peace of mind they are protected should they test positive, and they have to cancel or cut short their trip.”

What cover do I need?

Putting travel insurance in place is incredibly important no matter what sort of trip you have in mind, whether you’re heading abroad or remaining in the UK on a staycation .

However, travellers have been warned that they need to look in depth at policies before taking out cover, since there are such varying levels of cover provided, particularly when it comes to Covid-19. A recent study by Defaqto found that while almost all offer some sort of Covid cover should travellers fall ill on their trip, only a minority offer protection if the policyholder falls ill before the trip itself , potentially meaning the traveller has to foot the entire bill. 

However, there remain serious doubts about whether Brits will be able to head overseas at all this summer. The foreign travel ban may be extended following increasing case numbers on the continent .

In addition, those breaking the rules and leaving the country before the government opens up travel again risk being hit with a £5,000 fine thanks to new legislation being voted on this week. 

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Tesco Bank Travel Insurance Review

Everything you need to know before you buy travel insurance from Tesco Bank!

The experts say:

Tesco Bank's Premier travel insurance is one of the top-rated policies out there, earning an impressive 80% score from Which? and a 3rd place ranking amongst all 71 providers. It also boasts a superior Covid Cover rating, so you can feel confident that you'll be covered wherever your journey may take you. Medical expenses are generously covered up to £20 million, and baggage cover stands at £3000. Cancellation cover reaches up to £10,000 and there's no excess payable on medical claims either. Fairer Finance gives it 4 stars, making it a great choice for anyone looking for a reliable and dependable policy.

What Tesco Bank customers are saying right now:

• 🙂 Positive customer service experience from the person handling their enquiry.
• 😃 Quickest and easiest way to get policy details is by email.
• 🤩 Thousands of people out of work, Tesco can employ more tele-handlers.
• 😊 Option to speak to a member of the customer service team after running the automated message through twice without pressing any buttons.
• 🙂 Waived existing charges due to exceptional circumstances.
• 😡 Poor customer service, long wait times and lack of communication.
• 😤 Unclear policies and a lack of transparency with pricing.
• 🤮 Racketeering tactics used to increase policy costs.

Tesco Bank customer reviews summary

Tesco Bank travel insurance has been met with mixed reviews from customers. While some appreciate the competitive rates and convenient features, others have had difficulty navigating the application process or been frustrated by long wait times on the phone. On the plus side, Tesco Bank offers an easy way to cancel auto-renewal and provides additional discounts when using a Clubcard. However, their communication after purchase may leave something to be desired. Overall, Tesco Bank travel insurance is worth considering for its competitive rates and convenience, but it may not be the best option if you're looking for great customer service. Score: 6/10

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Cruise Travel Insurance

Planning to set sail on a cruise? We offer a cruise cover add-on with our travel insurance at an additional cost to help you relax and enjoy your time at sea.

Whether you’re booking a short cruise around the UK or an extended ocean voyage, Tesco Bank Travel Insurance offers an optional cruise cover add-on at an additional cost to your travel insurance policy. Cruise cover is also included as standard on Later Life policies. This includes cover for:

• Missed port of departure, helping you catch up with your cruise
• Compensation if you’re confined to your cabin because of illness
• Payment if a scheduled port visit is cancelled due to adverse weather or timetable restrictions
• Excursions that are unused due to accident or illness

Monetary limits, excesses and exclusions apply, please see the policy booklet for more information.

Tesco Bank Travel Insurance is arranged and administered by Rock Insurance Services Limited and underwritten by Inter Partner Assistance S.A. Gadget Cover is underwritten by AmTrust Europe Limited (AmTrust).

What does the Cruise add-on cover?

Cruise add-on included as standard with later life cover.

Our Later Life Travel Insurance is for people aged 80 or over and it includes our cruise cover as standard - so there's no need to pay more to add this cover.

Choose from Economy or our 5 Star Defaqto rated Standard and Premier cover Single and Annual Multi Trip policies.

If you’re 80 years or over and interested in Later Life insurance, call 0345 030 6127 * to get a quote.

Calls may be recorded. *This number may be included as part of any inclusive call minutes provided by your phone operator.

Some little helps for your cruise

Choosing your travel insurance policy

Whether you’re only planning on one cruise in the next year, or have a couple on the horizon, you can find the right travel insurance policy for you.

With Clubcard Prices, Clubcard members get a 10% discount when you buy direct. Discount doesn’t apply to Later Life cover or add-ons. Just enter your Clubcard number when you get your quote.

Important Information

It’s important that you review the full policy document for your Travel Insurance policy. It contains details of cover, exclusions and limitations of your travel insurance. Monetary limits and excesses apply.

If you purchased or renewed your Travel Insurance policy on or after 13 December 2023, your policy document is below.

If you purchased or renewed your Travel Insurance policy before 13 December 2023, your policy document is below.

The Insurance Product Information Documents summarise the key features, benefits and exclusions of cover.

Information about additional cover

The Insurance Product Information documents summarise the key features, benefits and exclusions of our additional cover.

Gadget Cover Documents

If you purchased or renewed your policy on or after 13 December 2023, your policy document is below.

If you purchased or renewed your policy before 13 December 2023, your policy document is below.

Car Hire Document

How we collect and use your personal data.

Tesco Personal Finance PLC (trading as Tesco Bank) acts as an intermediary for this policy. Tesco Bank Travel Insurance is arranged and administered by Rock Insurance Services Limited and underwritten by Inter Partner Assistance S.A. Gadget Cover is underwritten by AmTrust Europe Limited (AmTrust). You can find out more about how ROCK will process and share your data in their Privacy Notice.

ROCK will share some of your information with Tesco Bank as set out in their privacy notice and you can find out more about how Tesco Bank will then process that data in Privacy Policy .

ROCK will also share data with IPA UK and AmTrust so that they can underwrite your policy and if you make a claim. You can find out more about how IPA UK will process your data in the ‘Data Protection Notice and Fraud’ section of the Policy Wording document and by visiting the  AXA Assistance website and AmTrust Europe website .

• Home     Policy Wording Explained     What is Excess?

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What is Excess?

Similar to a car or home insurance policy, your travel insurance may also have an excess., an excess is the agreed amount of money you will pay towards a claim on a travel insurance policy and can be referred to as a ‘deductible’. once the excess has been settled your travel insurance provider will then pay the remaining expenses up to the limit of cover. for example, if you submit a claim for £400 and your excess is £100 then the claim payment will be £300., who has to pay an excess.

When making a claim the excess is generally per person unless stated otherwise in your policy wording. You may also find with some travel insurance policies the excess will need to be paid per section and per incident too.

For example, if you lose your jacket with your wallet in it, your claim would be divided into two parts, one under the Personal Possessions section of the policy for the jacket and wallet, and another under the Money section for any cash that might have been in your wallet. One incident, but two sections of the policy involved

Will an excess affect my insurance premium?

When purchasing your travel insurance, we advise you to do your research when it comes to selecting a policy with an excess. Although the cheapest policy may be more appealing, in the event of a claim you could be paying double, even triple the premium in excess costs!

For example, if the cost of the holiday is £450 per person and the excess is set at £250 per person and four people insured on the policy claimed for cancellation, the total claim would be £1800 with an excess to pay of £1000 meaning the claim payment would only be £800. However, if your excess was £100 per person, the claim payment would be a more satisfying £1400.

Granted a policy with lower or no excess may have a higher premium, but spending a few extra pounds now (roughly the equivalent of a round of drinks at the airport) could save you money should the worst happen.

What happens when an additional excess is applied?

Finding the right travel insurance when you have medical conditions can be time consuming and costly. In order to keep the price low, many travel insurance companies will implement a medical excess to be paid in the event of a claim – rather than charging you for a medical condition that is well controlled.

It is important to note any claim related to existing medical conditions, be it cancellation, curtailment or medical treatment, will require the medical excess to be paid – regardless of excess waivers or £0 excess policies.

What is an excess waiver?

Travel insurance is there to protect you from financial loss should the worst happen, but with some excesses set in the hundreds it can be more cost effective to pay the expenses yourself rather than making a claim on your travel insurance.

With this in mind, many policies offer an excess waiver for those who would prefer to pay no excess. For a small additional premium, the policy excess can be set to £0 – giving you peace of mind should you find yourself needing to make a claim on your insurance.

Beware, the cost of an excess waiver is usually per person, therefore, it may be more cost effective to purchase a policy with no excess rather than applying an excess waiver – something worth remembering when purchasing your travel insurance!

How does an excess affect my claims?

Depending on the travel insurer, you will either be required to pay the relevant excess before a claim is paid out or the excess will be deducted from the amount and the remainder paid by the insurer.

In some cases, a travel insurance claim can be rejected due to the excess not being paid so it is worth checking your policy wording to ensure you are aware of when to pay your excess.

Although we have mentioned several providers, please make sure you check the policy wording carefully to ensure the cover is suitable for your individual needs.

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Strikes at Heathrow Airport are taking place over the next few weeks, with the first one already under way.

Staff at the UK's biggest airport are set to walk out during the early bank holiday in May, with their union warning planes could be "delayed, disrupted and grounded".

Click here to find out when all the strikes are, what disruption is expected and which airlines are affected...

The average price paid for comprehensive motor insurance rose 1% in the first quarter of the year, according to industry data indicating an easing in the steep rises seen last year.

The latest tracker issued by the Association of British Insurers (ABI) showed a 1% increase on the previous three months to £635.

That was despite the average claim paid rising 8% to reach a record of £4,800, the body said.

The ABI said the disparity showed that its members were "absorbing" additional costs and not passing them on.

Nevertheless, the average policy was still 33%, or £157, higher between January and March compared to the same period last year.

Read the full story here ...

Getir , the grocery delivery app, has abandoned a European expansion that is set to result in the loss of around 1,500 jobs in the UK.

Sky News had previously revealed that the Turkey-based company, which means "to bring" in Turkish, had  successfully raised money from investors to fund its withdrawals  from the UK, Germany and the Netherlands.

It had already departed other countries including Italy and Spain.

The exits were prompted by growing losses linked to the company's rapid expansion.

Waitrose is launching an exclusive range of products with popular chef Yotam Ottolenghi today. 

The Israeli-British chef is famous for his Middle Eastern and Mediterranean-inspired food, and has worked with the supermarket to release products including a pasta sauce, spice blend and shawarma marinade. 

It is the first time Ottolenghi has partnered with a supermarket in such a way. 

The full range will be available in Waitrose shops, Waitrose.com and Ottolenghi.co.uk from today, while a selection of products will be available from the supermarket on Deliveroo and Uber Eats. 

An introductory 20% off offer is being launched until 18 June. 

The range includes: 

• Ottolenghi Miso Pesto 165g (£4)
• Ottolenghi Kalamata Olive & Harissa Sauce  350g (£4.50)
• Ottolenghi Pomegranate, Rose & Preserved Lemon Harissa 170g (£5)
• Ottolenghi Green Harissa 170g (£5)
• Ottolenghi Aleppo & Other Chillies Blend (£3.95)
• Ottolenghi Sweet & Smokey Blend (£3.95)
• Ottolenghi Citrus & Spice Blend (£3.95)
• Ottolenghi Red Chilli Sauce (£4.50)
• Ottolenghi Shawarma Marinade (£4)

Ottolenghi said he had "always been super eager to get our flavours onto people's dinner plates nationwide, not just in London, without having to cook it from scratch every single time". 

He added: "I hate to admit it but the pasta sauce already features heavily in my home kitchen, when no one is looking."

The cost of bread, biscuits and beer could increase this year due to the impact of the unusually wet autumn and winter on UK harvests.

Research suggests that production of wheat, oats, barley and oilseed rape could drop by four million tonnes (17.5%) compared with 2023.

The wet weather has resulted in lower levels of planting, while flooding and storms over winter caused farmers more losses.

The predictions come just as the rate of price increases on many food items begins to slow as inflation falls.

The Energy and Climate Intelligence Unit (ECIU) analysed forecasts from the Agriculture and Horticulture Development Board (AHBD) and government yield data.

It found a "real risk" of beer, biscuits and bread becoming more expensive if the poor harvest increases costs for producers, according to its lead analyst Tom Lancaster.

Beer prices could be affected because the wet weather is still disrupting the planting of spring crops such as barley, the ECIU said.

And potatoes might also see a price hike in the coming months, with growers warning of a major shortage in the autumn due to persistent wet weather.

By Emily Mee , Money team

When I think about the toys of my childhood - my pink Barbie car, my Gameboy Micro, my collection of Pokemon cards - I can't tell you where they went. 

Maybe they were shipped off to a charity shop at some point... Or perhaps they're in the attic? 

While my hot pink Gameboy Micro is lost to the void of time (or a cardboard box somewhere in my mum's house), other versions of it are selling on eBay for £100 or more. 

And there are Pokemon cards selling for anything from a tenner to hundreds or even thousands of pounds. 

It's possible you also have items at home that are a collector's dream. 

Gumtree says its collectables category is already proving to be a "hotbed of activity" this year, with listings up 22% in 2024 so far. 

Its most popular items include rare stamps, coins, war memorabilia and Pokemon cards. 

Spring is often the most popular time for buying and selling collectibles, with demand spiking in March and April. 

We've enlisted the help of TV presenter and collectables expert Tracy Martin to give an idea of what could make you an easy buck. 

Old toys making a 'retro comeback'

Tracy explains that while trends change, vintage toys tend to stand the test of time. 

"Toys are always going to be popular because they tap into nostalgia, our childhood memories," she says, explaining that adults like to buy the toys they used to have. 

Perhaps you were into cars, and you've got some old diecast vehicles from Matchbox, Corgi or Dinky Toys. 

A quick look on toy auction site Vectis.co.uk shows a Corgi Toys "James Bond" Aston Martin estimated to sell for between £600 to £700 - while others are likely to fetch £50 to £60. 

Sindy dolls are also particularly sought after - particularly those from the 1960s - and Barbie dolls from the 1990s too. 

Pokemon cards have seen a "massive surge", Tracy says, with people paying "thousands and thousands of pounds" for good unopened sets. 

She's even seen examples of people paying £16,000 upwards. 

Another up-and-coming market is games consoles, such as Gameboys, vintage consoles and PlayStations, which are making a "retro comeback".

What else could earn you some cash?

Tracy says there's currently a surge in people wanting to buy "mid century" furniture, which is dated to roughly 1945 to 1965 and typically uses clean lines and has a timeless feel. 

Vintage Danish furniture is sought after, particularly tables and chairs with good designer names such as Wegner, Verner Panton and Arne Jacobsen.

Prices range from the low hundreds into the thousands.

People will also look out for vintage framed prints by artists such as Tretchikoff, J.H. Lynch and Shabner - these can range in price from £50 upwards to a few hundred pounds plus. 

Vintage clothes, handbags and shoes can fetch a good price - but you can also invest in modern pieces. 

Tracy suggests looking out for good classic designs with high-end designer names such as Gucci, Chanel, Dior and Louis Vuitton. 

Modern designers such as Irregular Choice, Vendula and Lulu Guinness are also collected. 

Collaborations with designers and celebrities can do well as they're often limited edition. 

For example, Tracy says the H&M x Paco Rabanne maxi silver sequin dress retailed at £279.99 last year but now sells for in excess of £600. 

When it comes to shoes, "the quirkier the design the better" - so look out for brands such as Irregular Choice and Joe Browns. 

Converse and Dr Martens collaborations also do well, depending on the design and condition, as well as Adidas and Nike limited edition trainers. 

What's the best way to sell?  

Tracy recommends to always research before selling your items, as they might perform better on different platforms and you can also get an idea of how much they sell for. 

For example, Vinted can be a good place to sell clothes and shoes, while other items might be better suited for sale on Gumtree, eBay or Etsy. 

Tracy's favourite way to sell is through auction - especially if there are specialist sales. 

Vectis is one of the biggest and most popular for toy selling. 

Interests in different periods and items can go up and down, but for the time being vintage pieces from the 1980s and 90s are popular. 

How much you'll be able to get from an item often takes into account its rarity, condition, whether it reflects a period in time, and if it's got a good name behind it. 

You never know - you might be sitting on a treasure trove. 

Annual mortgage repayments have increased by up to 70% since 2021, according to new data from Zoopla .

The biggest impact of rising interest rates has been in southern England where house prices are higher.

Across the South West, South East and East of England, the annual mortgage cost for an average home is £5,000 higher than previously. This rises to £7,500 in London.

But the universal uptick in mortgage costs has been less pronounced in other parts of the UK, with the North East seeing a £2,350 increase.

In a bid to tackle inflation, the Bank of England has raised the base rate from 0.1% in December 2021 to a 16-year high of 5.25% now.

The Zoopla research looked at the average home buyer taking out a 70% loan-to-value mortgage.

This week seems to be starting where last week left off - with three major lenders announcing further hikes in mortgage rates.

Amid uncertainty of the timing of interest rate cuts from the Bank of England  this year, swap rates (which dictate how much it costs lenders to lend) have been rising in recent weeks.

Financial markets currently see two rate cuts by the Bank of England this year.

We've reported on a string of rate bumps from the high street over the last 10 days, and this morning NatWest, Santander and Nationwide moved.

In its second hikes announcement in less than a week, NatWest laid out increases across its full range of residential and buy-to-let fixed deals of up to 0.22%.

Santander, meanwhile, announced increases for both fixed and tracker deals across their residential and buy-to-let products - up to 0.25%.

The same hikes are being imposed for a range of Nationwide deals.

All of these will kick in tomorrow.

Amit Patel, adviser at Trinity Finance, told Newspage it was "not a great start to the week". 

"This is not good news for borrowers," he said.

Where will the base rate go this year?

The majority of the bets, according to LSEG data, are on the first cut coming in August (previously this was June) and the second in December.

This would take Bank rate from the current level of 5.25% to 4.75%.

Disabled people could receive vouchers instead of monthly payments under proposed changes to Personal Independence Payment (PIP).

The changes could see people being provided with either one-off grants for specific costs such as home adaptation, or being directed to "alternative means of support" rather than financial support.

Work and Pensions Secretary Mel Stride is set to announce plans today to overhaul the way disability benefits work.

In a Green Paper due to be published alongside Mr Stride's statement to the Commons, ministers will set out plans to reform Personal Independence Payments (PIP), the main disability benefit, through changes to eligibility criteria and assessments.

The plans also include proposals to "move away from a fixed cash benefit system", meaning people with some conditions, such as depression and anxiety, will no longer receive regular payments but rather get improved access to treatment if their condition does not involve extra costs.

Speaking to Sky News earlier, Mr Stride said: "I want us to have a grown-up, sensible conversation about a benefit called PIP that has not been reviewed in over a decade.

"And I want to ask the question, is it fit for purpose given the world that we're in today, in which mental health issues sadly present more of an issue than they did a decade ago."

By James Sillars , business reporter

A fresh high for the FTSE 100 to start the week.

The index of leading shares in London was 0.5% up at 8,179 in early dealing.

The gains were led by miners and financial stocks.

Dragging on the performance were some consumer-facing brands including JD Sports and Flutter Entertainment.

One other development of note to mention is that stubbornly high oil price.

A barrel of Brent crude is currently trading almost 1% down on the day.

But it remains at $88 a barrel.

The market has been pulled by various forces this month, with hopes of a rebound in demand in China among them.

The latest decline is said to reflect peace talks being held between Israel and Hamas.

A demand for smaller homes has driven growth in UK property prices early in 2024, according to research by Halifax.

Data from the bank's house price index suggests annual property price growth hit 1.9% in February this year - a significant rise from -4.1% just three months prior.

That equates to a rise in prices of £5,318 over the past year.

It follows interest rates stabilising, Halifax says, after a sharp rise over the past two years which squeezed mortgage affordability.

A key driver behind rising prices, Halifax says, has been first-time buyers, who made up 53% of all homes bought with a mortgage in 2023 - the highest proportion since 1995.

And it's smaller homes that have recorded the biggest increases in price growth in the early part of this year - with buyers adjusting their expectations to compensate for higher borrowing costs.

Flats and terraced houses made up 57% of all homes purchased by first-time buyers last year.

This varies by region - for example, in London, flats and terraced homes accounted for 90% of all first-time buyer purchases.

Challenges remain

However, Amanda Bryden, head of Halifax mortgages, said "it's important not to gloss over the challenges" facing the UK housing market, given the "impact of higher interest rates on mortgage affordability" and "continued lack of supply of new homes".

"But scratch beneath the surface and there is a more nuanced story, one which shows that demand for different property types in different parts of the country can vary hugely," she added.

"As interest rates have stabilised and buyers adjust to the new economic reality of owning a home, one way to compensate for higher borrowing costs is to target smaller properties.

"This is especially true among first-time buyers, who have proven to be resilient over recent years, and now account for the largest proportion of homes purchased with a mortgage in almost 30 years."

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