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- UK Home Insurance Market Report 2024
UK Home Insurance Market Report 2024
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Stay ahead of the curve and future-proof your business with Mintel’s UK Home Insurance Market Report 2024. Our full report is packed with consumer-led market intelligence, the latest home insurance market research, trends, and consumer behaviours affecting your business. Get a 360° view of the home insurance including market size, market share and forecasted growth to help you align your business strategy with the needs of your audience.
Below, we’ve handpicked the key insights analysed in the full report and summarised the core topics.
High inflation has driven up domestic property insurance premiums, placing additional financial strain on households. Mortgage holders in particular have been hit by rising interest rates alongside rising premiums. The difficult economic environment will see more customers opting out of auto-renewals and shopping around for better deals.
Reward loyalty
Rising premiums have seen more policyholders shopping around at renewal and looking to price comparison sites for better deals. There is an opportunity to boost loyalty through strong customer service, including regular communication to ensure policies remain appropriate at a time when people’s circumstances may be changing.
Technological innovation
As ownership of smart home technology rises, insurers need to offer policies that reflect the added security benefits through lower premiums. Smart home technology can also help to provide evidence and speed up the claims process.
Purchase our UK Home Insurance Market Report to receive a five-year forecast, consumer behaviour analysis, and recommendations for market opportunities. Readers of this report may also be interested in our UK Motor Insurance Market Report 2024, or our range of Finance Market Research.
Aviva, Admiral, Barclays, Amazon, Sky, Lemonade, Sainsbury’s, Testo, Pikl and many more.
This report, written by David Walmsley, a leading research analyst, delivers in-depth commentary and analysis to highlight home insurance market trends and add expert context to the numbers.
Premium inflation has supported market growth but there remains a need to engage a generation of renters with contents cover.
Adrian Reynolds
Principal Analyst
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