AXA UK launches five new tiered home insurance products

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.

All products are aligned to Defaqto ratings and include: SwiftCover (2 Star rating), SwiftCover Plus (3 Star rating), AXA Home Insurance (4 Star rating), AXA Plus Home Insurance (5 Star rating) and AXA Premium Home Insurance (5 Star rating).

The new home insurance products come after AXA UK’s launch of its 3 Star 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.

“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.