United Kingdom (UK) Household Insurance Market Size, Trends, Competitor Dynamics and Opportunities

1.1 Market overview
1.2 Key findings
1.3 Critical success factors

2.1 The UK household insurance market’s growth has been largely stagnant in recent times
2.2 Government and regulatory policies in home insurance
2.3 The claims landscape in 2021
2.4 The housing market is recovering after the pandemic

3.1 Aviva continues to lead the market

4.1 The market is expected to slowly shrink
4.2 Smart home devices and the future of home insurance
4.3 Other providers may enter the market
4.4 Climate-related weather events will affect claims
4.5 The cladding situation can be assisted by insurers

5.1 Abbreviations and acronyms
5.2 Methodology
5.3 Secondary sources
5.4 Further reading

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Table 1: Household insurance GWP, annual growth rate, 2017-21
Table 2: Yearly and quarterly average household insurance premium rate movements, Q1 2017-Q1 2022
Table 3: Percentage of respondents holding any form of home insurance, 2020-21
Table 4: Household gross claims incurred and number of claims notified, by type, 2017-21
Table 5: New home registrations and completions, 2017-21
Table 6: Top 10 UK household insurers by GWP and market share, 2019-21
Table 7: UK household insurance market forecasts, 2021-26f

Figure 1: UK household insurance market GWP declined in 2021
Figure 2: Home insurance premiums fall drastically in Q1 2022
Figure 3: Combined insurance makes up the majority of GWP
Figure 4: Penetration rates for tenants are at approximately 50%
Figure 5: The total number of UK renters increased in 2021
Figure 6: Renters may opt not to obtain house insurance for a number of reasons
Figure 7: Almost a quarter of private renters have the wrong cover
Figure 8: Overall claims incurred grew by 5.0% in 2021
Figure 9: Number of claims notified fell by 4.9% in 2021
Figure 10: Supply chain issues and inflation are causing rebuild costs to grow drastically
Figure 11: Both supply-side and demand-side factors influence inflation
Figure 12: New home registrations and completions bounced back almost to pre-pandemic levels
Figure 13: Mortgage approvals return to normal as the stamp duty holiday ends
Figure 14: Aviva remains the market leader in the home insurance market
Figure 15: Comparison websites are still the most common pre-purchase method for combined insurance
Figure 16: The home insurance market will shrink over the next five years
Figure 17: Smart home device data is more likely to be shared with an insurer by people aged under 30
Figure 18: The idea of obtaining home insurance from non-traditional suppliers is one that consumers are increasingly open to
Figure 19: Forecasting methodology