Lloyds TSB Group has launched its new Insurance Personal Home Plan, which is designed specifically for the financially savvy customer who, typically aged over 50, wants to take control of their purchase and not pay for things they don't need.

The Personal Home Plan includes essential cover for fire, theft, flood and subsidence as standard, but then allows customers to choose any combination of 21 pick and mix options to suit their lifestyle. Personal Home Plan customers will have their own dedicated, UK-based contact center, staffed by specially trained experts to help them tailor cover to suit their needs.

Alasdair Lenman, sales director at Lloyds TSB Insurance, said: Personal Home Plan fundamentally changes the way the over 50s can buy insurance, enabling us to offer more tailored premiums and treat customers as individuals. It taps into a market of around three million discerning and financially savvy insurance shoppers who aren’t content with standard off-the-shelf cover, but instead study their policy in great detail to make sure it exactly suits their needs.