Top home insurance companies in the UK

As home insurance brands adjust their pricing strategies following the FCA’s pricing reforms that prohibited price walking, changes in market share are becoming evident.

Some newer brands in the market are experiencing growth, while established brands are focusing on customer retention.

Our Insurance Behaviour Tracker monitors the renewal journeys of 2,000 customers monthly, revealing the shifting fortunes of different brands in the market.

Aviva has strengthened its position as the leading brand in the market, with Direct Line Group maintaining the largest market share overall.

In terms of market share, Aviva leads with 8.3%, followed by LV with 6.5%, and Direct Line with 5.7%.

Policy Expert has shown significant momentum, gaining 1.3% of the market in the six months leading up to March 2022.

Meanwhile, other dynamic players in the market, such as British Gas and Sheila’s Wheels, have also seen notable increases in customer numbers.

Retention rates have also increased, with the market average rising from 63.2% to 66.9% in the last year.

The top brands for retention differ from those leading in market share gain, highlighting the varying strategies in the industry.

Ian Hughes, CEO at Consumer Intelligence, noted the dynamic nature of the home insurance market and predicted further changes in the coming months.

To understand consumer behavior in the renewal process and make informed decisions, consider utilizing the Insurance Behaviour Tracker for insights and trends in the market.