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SixthSense™

Home Protection
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Content
  • Introduction & ScopeToggle
    • Report coverage
    • Definitions
    • Methodology
    • Abbreviations
  • Report SummaryToggle
    • £6.6 billion spent by 21.5 million homes
    • Few have abandoned the market recently
    • Combined policies dominate
    • Growth expected
    • Home insurance offers peace of mind
    • Drivers of policy choice
    • Can policyholders make the right choice?
    • Source of purchases
    • Deal searching
    • Claims
    • Market shares
  • What Needs to be Protected?Toggle
    • 27 million homes in the UK
    • Durable ownership shapes policies
  • Current Level of Insurance CoverToggle
    • Over half own combined policies
    • You have to have something to protect
    • One in four have cancelled policies
    • But not all abandon the market
    • Finance and lifestyle/lifestage determine policy cancellation
  • Perceptions of ProtectionToggle
    • Home insurance offers peace of mind
    • Are you cool or passionate about home insurance?
    • Are those without cover happy or reluctant?
    • Experience does change perceptions but not dramatically
    • Graphic view of perceptions
  • Spending on Home Insurance Toggle
    • Average spend of £300 per year
    • Cheaper to buy policies offering combined cover
    • Owner occupiers account for almost 90 per cent of premiums
    • Premiums rise strongly
    • Average combined premiums just under £300
    • Almost six in ten policyholders take action to cut premiums
  • The Drivers of Home Insurance PurchasesToggle
    • The price has to be right
    • Five dimensions of choice
    • A graphic view of purchasing
    • Can home insurers make informed decisions?
    • Almost half of consumers buy ‘blind’
    • Reading the documents makes you better equipped to buy
    • Age a prime influence on knowledge
    • Does the use of price comparison sites change behaviour?
  • Where the sales are madeToggle
    • The direct sale the most popular route
    • But do consumers know their insurer from their provider?
    • Insurers and brokers have the best conversion rates
  • Searching for the Best DealToggle
    • An annual cycle of searching
    • Four types of search behaviour
    • A graphic view of deal searching
  • Insurer Loyalty and ChurnToggle
    • Consumers stay loyal for around 15 months
    • Consumers give incumbents a second chance
    • Nearly half thinking of leaving
    • Lower premiums the prime motivation for switching
  • The Claims ExperienceToggle
    • Just over 10 per cent have claimed
    • Most were satisfied with the claims experience
  • Market SharesToggle
    • A diverse market in terms of individual brands
    • RBSI the biggest underwriter by premiums
  • Market Size and ForecastToggle
    • Premiums reach £6.7 billion
    • Insurers struggle to make money
    • Combined policies account for the bulk of premiums
  • Forecasts
  • Appendix Toggle
    • Further Analysis Tables
  • DownloadsToggle
    • Report PDF
    • Datasheets
    • Questionnaire
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