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Allianz launches new home insurance product for UK market

Allianz has introduced a tiered home insurance product in the UK, offering bronze, silver, and gold coverage options to cater to diverse homeowner needs. This launch is part of Allianz’s broader strategy to strengthen its presence in the UK market.

  • Editorial Team
  • June 10, 2024
  • 3 minutes

In an effort to broaden its footprint in the UK, global insurer Allianz has introduced a new home insurance product offering three levels of coverage: bronze, silver, and gold. This product is designed to provide UK homeowners with more flexibility and options, aligning with the company’s expansion strategy.

This comprehensive package, available on Allianz’s website and through external comparison platforms, includes standard protections against fire, storm, flood, and subsidence. Additional protections such as home emergency services and legal expenses are offered as optional add-ons or included in the gold tier. Allianz’s home insurance seamlessly combines buildings and contents coverage, allowing customers to choose the coverage level that suits their needs.

Key features include:

  • Alternative accommodation costs ranging from £30k to £100k if the home becomes uninhabitable due to events like flooding or fire, with rebuild costs between £500k and £1m.
  • Home contents coverage starting at £50k under the bronze tier, up to £150k under the gold tier.
  • Automatic coverage for bikes up to £350 across all tiers, with the option to specify personal belongings for coverage outside the home.
  • Policy changes without administrative fees and access to a 24-hour UK claims line for easy assistance.

Additionally, policyholders can adjust their policies without any admin fees and take advantage of a 24/7 UK claims line for convenient support.

This new home insurance product is the latest addition to Allianz’s UK personal lines portfolio, following the rebranding of its digital car insurance in March and its personal lines broker business in May. This move capitalises on the Munich-based group’s status as the top insurance brand globally, according to Interbrand.

Serge Raffard, Managing Director at Allianz Personal, expressed his enthusiasm: “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.

Emphasising the brand’s growth, Raffard added: “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.”