United Kingdom (UK) Home Emergency Insurance and Home Services 2021

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The UK home emergency market was valued at GBP1.15 billion in 2020. However, the market is projected to decline at a CAGR of more than 2% during the forecast period. This report provides an in-depth analysis of the UK home emergency insurance and home services markets. Topics discussed include both the current and forecasted market sizes, underlying market drivers including claims costs, COVID-19, and housing supply, and customer trends including policy types and demographic trends.

UK home emergency insurance and services market overview

UK home emergency insurance and services market overview

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Which are the key generation segments in the home emergency insurance and services market in the UK?

The key generation segments in the home emergency insurance and services market in the UK include Gen Z, millennials, Gen X, and baby boomers. Among household insurance customers, Generation Z are the most likely to hold standalone home emergency cover. Older generations are considerably less likely to purchase such products.

The UK home emergency insurance and services market, by generation

The UK home emergency insurance and services market, by generation

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Which are the key standalone products in the UK home emergency insurance and services market?

The key standalone products in the home emergency insurance and services market in the UK include boiler and central heating, plumbing, boiler, and electricity. With the pandemic squeezing many consumers financially, the increase in demand for standalone products may be caused by consumers canceling or changing their home insurance policy. Standalone cover can be relatively inexpensive, so it could be a useful product when staying at home is mandated. At the same time, a fall in the proportion of home policies including emergency cover as standard contributed to the growth of standalone products.

The UK home emergency insurance and services market, by standalone product

The UK home emergency insurance and services market, by standalone product

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Who are the key competitors in the UK home emergency insurance and services market?

Some of the key competitors in the home emergency insurance and services market in the UK include Aviva, Direct Line, Legal & General, AXA, Halifax, Churchill, Tesco Bank, Esure, British Gas/Centrica, HomeServe, CORGI HomePlan, Domestic & General. Aviva remained the most popular insurance provider that offers home emergency cover as standard despite a slight fall in its market share.

The UK home emergency insurance and services market, by key competitors

The UK home emergency insurance and services market, by key competitors

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Market report scope

Market size 2020 GBP1.15 billion
CAGR >(2)%
Forecast period 2021-2025
Key generations Gen Z, Millennials, Gen X, and Baby Boomers
Key standalone products Boiler and Central Heating, Plumbing, Boiler, and Electricity
Key competitors Aviva, Direct Line, Legal & General, AXA, Halifax, Churchill, Tesco Bank, Esure, British Gas/Centrica, HomeServe, CORGI HomePlan, Domestic & General

Scope

  • British Gas still dominates the market in 2021.
  • The popularity of standalone home emergency cover increased from 4.2% to 5.2% in 2021. This is likely to be driven by consumers opting for the cheaper home emergency cover over household insurance with home emergency included as standard.
  • Leading household insurers are using their position in the market to upsell home emergency products, with Aviva being particularly strong as it utilizes its partnership with HomeServe.

Reasons to Buy

  • Discover how the UK home emergency insurance market is forecast to perform over the next four years.
  • Assess your current market position relative to the market leaders.

Aviva
Direct Line
Legal & General
AXA
Halifax
Churchill
Tesco Bank
esure
British Gas/Centrica
HomeServe
CORGI HomePlan
Domestic & General
Lloyds Bank
Google
Amazon
Scottish & Southern Energy
Npower
RSA
LV=
Saga
Nationwide
Admiral
E.ON
EDF Energy
OVO Energy
Scottish Power

Table of Contents

Table of Contents

Executive Summary

Market Dynamics

Competitive Dynamics

Marketing Spend

Appendix

Frequently asked questions

United Kingdom (UK) Home Emergency Insurance and Home Services 2021 standard reports
Currency USD
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