Allianz unveils new home insurance options to enhance UK coverage

Allianz, a world-leading insurance brand, has launched a new three-tier home insurance product aimed at providing more choice for UK homeowners.

Allianz, a world-leading insurance brand, has launched a new three-tier home insurance product aimed at providing more choice for UK homeowners.

This strategic move is part of Allianz’s UK growth strategy and reflects its commitment to offering tailored insurance solutions.

The new  product, available in bronze, silver, and gold levels, is designed to cater to varying customer needs. It is accessible through Allianz’s website as well as price comparison websites, making it convenient for homeowners to find and select the right level of cover.

Standard features include fire, storm, flood, and subsidence cover, with optional extras such as home emergency and legal expenses available, or included in the gold tier.

This latest offering aims to simplify the process of choosing the right insurance by bundling buildings and contents insurance together, with varying levels of cover.

This includes alternative accommodation in cases where the home is unfit to live in due to events like flooding or fire, with coverage ranging from £30k to £100k under the buildings insurance section and rebuild costs from £500k to £1m.

Home contents cover starts from £50k under the bronze level and goes up to £150k under the gold level. Additionally, all three tiers automatically cover bikes up to the value of £350, and personal belongings can be specified for coverage away from home.

Customers benefit from the flexibility to change their policy without incurring admin fees and have access to a 24-hour UK claims line. This ensures that they can manage their policies conveniently and receive support whenever needed.

Allianz’s new home insurance offering is the latest addition to its UK personal lines products.

Earlier in the year, the firm rebranded its digital car insurance product and moved its personal lines insurance broker business to the Allianz brand, further strengthening its presence in the UK market.

Allianz personal managing director Serge Raffard said, “We’re very excited to launch our new home insurance product into the UK personal lines market, and provide more choice for customers who are looking for great value protection for their home.

“We want our customers to feel in control, which is why at the touch of a button they can manage their policy online and make changes without admin fees. We also understand customers may want to speak to someone to make a claim, which is why our product comes with a 24-hour UK claims line which is simple and straightforward to use.

“We’re extremely excited to extend the Allianz brand to UK consumers, and launching insurance for their homes and cars is a big step in our long-term strategy. This is the next part of our Allianz journey, and we’re proud to provide cover from the number one global insurance brand to UK consumers.”

Copyright © 2024 InsurTech Analyst

Enjoying the stories?

Subscribe to our weekly InsurTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.