United Kingdom (UK) Household Insurance Market Dynamics, Trends and Opportunities, 2023

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

UK Household Insurance Market Report Overview

The gross written premium of the United Kingdom (UK) household insurance market was GBP5.97 billion in 2022 and is expected to achieve a CAGR of less than 1% during 2023-2027. Since the younger generations find it difficult to afford homeownership and living expenses are high, insurers must focus on Generation Rent in order to preserve or grow market share and GWP of household insurance. By providing solutions suited to the requirements of younger populations, insurtech startups are challenging established insurers in this market.

UK Household Insurance Market Outlook 2022-2027 (GBP Billion)

UK Household Insurance Market Outlook 2022-2027 (GBP Billion)

Buy the Full Report to Gain More Information about the UK Household Insurance Market Forecast

Download A Free Report Sample

The UK household insurance market research report analyzes the UK household insurance market and looks at drivers of uptake across different demographics and dwelling types. It discusses the claims landscape in 2022, the housing market, and upcoming regulatory changes within insurance. Incumbent competitors, newcomers, and insurtechs within the space are analyzed and compared. Future impactors in the market are also covered.

Gross Written Premium (2022) GBP5.97 billion
CAGR (2023-2027) <1%
Historical Period 2018-2022
Forecast Period 2023-2027
Key Claim Types ·        Escape of Water

·        Weather

·        Fire

·        Theft

·        Accidental Damage

·        Subsidence

·        Other Domestic Claims

Key Insurers ·        Aviva

·        RSA

·        Direct Line

·        Chubb

·        Allianz

Enquire & Decide Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase.

UK Household Insurance Market Dynamics

Younger consumers, especially those under the age of 30, are exhibiting an interesting trend where they are far more eager to share their smart home data with insurance carriers. Tech giants such as Sky are beginning to see the potential as the adoption of smart home devices rises. Insurance companies have the opportunity to capitalize on the growing potential of this group regardless of whether they choose to live in rental housing or eventually become homeowners.

UK Household Insurance Market Segmentation by Gross Claims Types

Increases in weather and subsidence-related claims drove up the overall cost and number of claims incurred in 2022.

The key gross claims type in the UK household insurance market includes escape of water, weather, fire, business interruption, theft, accidental damage, subsidence, and other domestic claims. Escape of water incurred the highest claims in 2022. There was a decline in the value of household insurance claims in the second quarter of 2022. This was due to a drop in weather-related claims mostly owing to the second quarter’s lack of major storms and a much-below-average monthly rainfall, which minimized potential damage.

Meanwhile, there was a rise in theft claims during the holiday season as well as throughout the year. As a result of the cost-of-living crisis, fraudulent theft claims increased, especially those involving jewelry and electrical goods, and many of them went undetected. This might be one of the reasons for the growth of the number of theft claims in the UK household insurance market.

UK Household Insurance Market Analysis by Gross Claim Types, 2022 (%)

UK Household Insurance Market Analysis by Gross Claim Types, 2022 (%)

Buy the Full Report for More Claim Type Insights into the UK Household Insurance Market

Download A Free Report Sample

UK Household Insurance Market - Competitive Landscape

Aviva led the household insurance industry in 2022, followed by RSA and Direct Line.

Some of the leading household insurers in the UK household insurance market are:

  • Aviva
  • RSA
  • Direct Line
  • Chubb
  • Allianz

Aviva has made major inroads in the High Net Worth (HNW) market and has extended its home and travel insurance arrangement with TSB Bank for a further five years till 2028, strengthening its position within the market.

UK Household Insurance Market Analysis by Household Insurers, 2022 (%)

UK Household Insurance Market Analysis by Household Insurers, 2022 (%)

Buy the Full Report to Know More about the Insurers in the UK Household Insurance Market

Download A Free Report Sample

UK Household Insurance Market – Latest Developments

  • In the UK, Amazon has launched the Amazon Insurance Store to give customers a new method of buying home insurance. This insurance store seeks to improve the home insurance shopping experience by offering reliable like-for-like quote comparisons and a simplified process for obtaining a quote, in order to make the process seamless.
  • Sky Protect Smart House Insurance is a new service that combines home insurance with smart home technologies. This package comes with smart home devices including a video doorbell, indoor camera, leak detectors, motion sensor, and contact sensors. The aim is to offer consumers peace of mind by providing them with comprehensive cover, home emergency support, access to reputable tradesmen, and legal and cyber protection.

Segments Covered in the Report

UK Household Insurance Claim Types Outlook (Value, GBP Billion, 2018-2027)

  • Escape of Water
  • Weather
  • Fire
  • Theft
  • Accidental Damage
  • Subsidence
  • Other Domestic Claims


• The UK household insurance market is expected to grow by 2.9% in 2023, following a 3.3% decline in 2022.

• The average premium prices for combined, buildings-, and contents-only insurance decreased by 5.6%, 8.1%, and 8.4% respectively in 2022. Furthermore, the number of policies for all products fell, contributing towards the overall decline in GWP.

• Home insurance claims in the UK rose in 2022, with the cost of claims growing by 6.2% and the total number of claims reported increasing by 2.6%. A significant increase in weather-related and subsidence claims was the main factor behind the uptick in overall claims.

• Generation Rent remain an untapped demographic as roughly half have contents-only insurance in place.

Key Highlights

  • In 2021, the UK’s home insurance market shrank.
  • For combined policies, the average premium price rose in 2021. However, they declined by for buildings-only and contents-only insurance.
  • All types of claims notified fell except for escape of water. Gross claims for escape of water increased in 2021 because of lockdown relaxations, meaning fewer individuals were at home.
  • Less than half of all UK renters have a contents-only insurance policy, making Generation Rent a large, untapped demographic for insurers.

Reasons to Buy

  • Identify underlying drivers of demand and premium prices for home insurance products.
  • Examine the nature of the claims landscape in 2022.
  • Compare the performances of market leaders throughout the year.
  • Determine how insurtechs are attempting to gain traction in the market.
  • Understand the impact of inflation on the home insurance market going forward.

Direct Line
Lloyds Banking Group
NFU Mutual
Flood Re
TSB Bank

Table of Contents

  • 1 Executive Summary

    • 1.1 Market overview
    • 1.2 Key findings
    • 1.3 Critical success factors

  • 2 Market Dynamics

    • 2.1 The UK household insurance market fell in 2022, but will return to growth by the end of 2023
    • 2.2 Government and regulatory policies in home insurance
    • 2.3 The claims landscape in 2022
    • 2.4 The housing market is returning to normal levels following a dip from the pandemic

  • 3 Competitor Dynamics

    • 3.1 Aviva remains the largest provider of home insurance in 2022
    • 3.2 Insurtechs and recent developments

  • 4 The Market Going Forward

    • 4.1 Growth in the market is expected to be stagnant through 2027f
    • 4.2 Smart home devices and the future of home insurance
    • 4.3 Other providers may enter the market
    • 4.4 Extreme weather events will affect claims

  • 5 Appendix

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

  • 6 About GlobalData
  • 7 Contact Us

Frequently asked questions

United Kingdom (UK) Household Insurance Market Dynamics, Trends and Opportunities, 2023 thematic reports
Currency USD

Can be used by individual purchaser only


Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

United Kingdom (UK) Household Insurance Market Dynamics, Trends and Opportunities, 2023 was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS

Related reports

View more Insurance reports
Financial Services
Australia Wealth Management - Market Sizing and Opportunities to 2027
$3,450 | November 2023
Financial Services
Personal Accident and Health Insurance Market Trends and Analysis by…
$3,999 | November 2023
Financial Services
Thailand PESTLE Insights - A Macroeconomic Outlook Report
$500 | December 2023
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at United Kingdom (UK) Household Insurance Market Dynamics, Trends and Opportunities, 2023 in real time.

  • Access a live United Kingdom (UK) Household Insurance Market Dynamics, Trends and Opportunities, 2023 dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.