Top 4 Insurance Companies in the UK

Choosing an insurance company can be one of the hardest life choices you have to make. You can pretty much insure anything that you own, from the contents of your home to your car. Due to the number of our things that can be insured, there’s a multitude of companies that are more than happy to help you. To make your life easier, we’re going to show you our top 4 insurers in the UK. 

1 – AIG

AIG is a life insurance company that provides a variety of customisable policies to fit nearly every financial situation. While AIG’s life insurance rates aren’t the absolute cheapest, the company’s flexible product selection is what sets it apart.

Their packages can be customised to suit personal specifications in order to create the best policy for the customer. As an insurance broker, they’re not the cheapest option out there but their ability to customise policies allows them to top the market in this sector

What does AIG cover?

  • Car insurance
  • Life insurance

From adjustable life insurance policies to universal policies to cover your retirement and later years, AIG’s policies prove to be favourable with the public and professionals as they focus on their client’s needs and abilities. This company doesn’t come without faults.  Their customer service does receive criticism and doesn’t quite live up to the standards you come to expect from a high-end insurance company.

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2 – Aviva

Aviva Insurance is the largest general insurer in the UK and one of the biggest in Europe. They have over 31 million customers worldwide with approximately 51% of these based in the UK. Aviva was launched in 2002 and represents the merger of Norwich Union, Commercial Union and General Accident.

What does Aviva cover?

  • Car
  • Van
  • Travel
  • Health
  • pets
  • Business
  • Home
  • Content
  • Life
  • Landlords

When it comes to life insurance, one of their main policies, their direct-term life plans aren’t as affordable compared to the average cost on the market. This does depend more on the customer’s physical health and attributes as they directly affect life insurance costs across the market. According to independent financial research firm Defaqto, Aviva is providing a good level of service; both its simplified life insurance and fixed-term insurance receive 5 stars.

According to Fairer Finances in 2018 Aviva was ranked 30th out of 48 when it came to customer experience. This ranking looks into; customer happiness, trust, complaints, performance and transparency. This shows once again that a top insurance company isn’t following through on a higher standard of customer service given the size of the company.

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3 – Bupa

When it comes to health insurance, Bupa is the household name within the UK. They are the largest health insurance company in the UK, owning a network of private hospitals, clinics and medical services including treatments and diagnostics. Looking specifically at their policies they are one of the few to specify their mental health policies and their care plans for such illnesses.

What does Bupa cover?

  • Health
  • Dental
  • Elderly
  • Travel

They aim to cover customers from diagnosis to treatment. This can include home nursing, private ambulances and even post-diagnostic therapies (such as physiotherapy). Certain elements of cover can be tailored or removed, for example, you can choose not to include diagnosis, which will lower the cost of a policy.

Due to their ability to tailor their policies around their customers, they include added extras such as home nursing, private ambulances, even post-diagnostic therapy. With such a specific insurance market they’re able to work on exclusive extras that make them the ideal insurer for your health.

When comparing customer reviews and professional reviews there’s a dramatic difference. Looking at reviewcentre.com you can see they received a 1.4/ 5 in customer reviews whereas financial reviewer Defaqto rated them 5/5 for their comprehensive cover.

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4 – UK insurance

UK insurance isn’t as well-known within the UK and their smaller brands are actually more renowned within the public. This insurance company is the owner of; Direct Line, Green Flag, Churchill, Privilege and NIG. With a range of smaller branded insurance companies, they are able to create an even larger amount of insurance policies that are tailored to many different needs and price ranges. This makes them one of the leading insurance companies in the UK, in particular, for car insurance they’re leading the way with Direct line.

What Does UK insurance cover?

  • Car
  • Home
  • Travel
  • Pet
  • Breakdown
  • Life
  • Van
  • landlord

They place a heavy focus on motor insurance. This is how both direct line and Churchill started, however, Churchill has diversified into more insurance markets.

With Churchill spanning across multiple markets is best to look at their policies to see if they have what you desire. For example, looking at home insurance, Churchill’s Standard policy with buildings cover can cover up to £1,000,000 and contents cover up to £50,000. Both types of cover are also available separately.

General policy benefits include up to £1,000 landscaping/plant cover, a 12-month guarantee on building works carried out by a Churchill-approved repairer, alternative accommodation in the event your house becomes uninhabitable, and a 24/7 helpline. Cyclists can insure bikes worth up to £500 as standard. If you have buildings cover, Churchill will pay to find the cause of a water leak and will also sort the damage it causes. The policy does include set limits and a £450 escape of water excess will apply.

As you can see, their policies span across a wide range of different areas. 

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