AXA UK launches new tiered home insurance products

AXA UK launches five new Defaqto rated home insurance products across its AXA and Swiftcover brands to give customers greater choice and flexibility
The new products will allow customers to flex their premium by choosing which items they want to cover in and outside of the home
The new products follow AXA UK’s launch of a lower premium motor insurance product earlier this year

AXA UK has launched five new home insurance products across its AXA and Swiftcover brands which aim to better suit individual customer needs and support a wider range of budgets.

The new products will allow customers to flex their premium by providing greater choice around what items they want to include in their cover both in and outside the home.

Cover limits will be staggered to create tiered products, meaning customers will now be able to choose from policies with 2 to 5 Star ratings as opposed to just 4 or 5 Stars currently.

The new products will initially launch to customers direct from AXA UK and through Compare the Market.

The products include: SwiftCover SwiftCover Plus, AXA Home Insurance, AXA Plus Home Insurance and AXA Premier Home Insurance.

The new home insurance products come after AXA UK’s launch of its 3 Star Defacto rated motor insurance product in February which offers lower cost premiums for motorists who require a policy with fewer add-ons. AXA UK’s Defaqto 5 Star rated product, renamed AXA Plus Car Insurance, was also enhanced with £1,500 cover for personal belongings, up from £300.

We are continuously working to meet the changing needs of our customers and give them more control over the cover that works for them.

This new offering will provide customers with greater choice and flexibility so they can find an insurance product that suits their needs and budget. Improving our offering in this way also means more people can access our award-winning home insurance, giving them the peace of mind that we’ll be there for them when they need us the most.

Jo Lloyd, Retail Customer and Propositions Director at AXA UK

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About AXA UK

AXA Insurance UK plc registered in England and Wales under registered number 078950 and authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation Authority and the Financial Conduct Authority under Financial Conduct Authority registration number 202312. Registered office is 20 Gracechurch Street, London, EC3V 0BG.

AXA UK is part of the AXA Group, a worldwide leader in insurance and asset management, with 147,000 employees serving 94 million clients in 50 countries. In 2023, IFRS revenues amounted to Euro 102.7 billion and underlying earnings to Euro 7.6 billion. AXA had Euro 844 billion in assets under management as of December 31, 2023.

In the UK & Ireland, AXA operates through a number of business units including: AXA Insurance, AXA Health and AXA Ireland. AXA UK & Ireland employs around 10,000 staff.

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Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans, expectations or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause AXA’s actual results to differ materially from those expressed or implied in such forward looking statements. Please refer to Part 5: “Risk Factors and Risk Management” of AXA’s Universal Registration Document 2022, for a description of certain important factors, risks and uncertainties that may affect AXA’s business and / or results of operations. AXA undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise, except as required by applicable laws and regulations.

AXA UK launches five new tiered home insurance products to give customers greater flexibility