One of the UK’s top car insurance providers, Admiral, is looking to expand its business by providing home insurance cover as of next year.
Admiral currently insures 6% of the cars on UK roads and, as an established name in the insurance industry, it expects that its transition into home insurance will not be one that leaves current customers with increased premium costs. This confidence is based on the fact that Admiral owns price comparison websites confused.com and elephant.co.uk, which means that it will be able to avoid expensive advertising and marketing campaigns, as it will be able to advertise its new service on these websites.
Despite rivals Moneysupermarket.com and Go Compare making up 69% of the market along with Admiral, the insurance provider is still confident that the success of its own price comparison websites will provide enough advertising exposure to avoid having to run a costly marketing campaign.
Admiral’s confidence is shared by at least one insurance analyst, who is certain that Admiral can make a success of its move into household cover. The expert believes that if Admiral is able to offer competitive premium rates by identifying and targeting a number of key areas of home insurance which are currently overpriced, it will be able to attract customers looking for better deals.
Despite its success over recent years, Admiral believes that in order to continue to grow as a company it needs to diversify into new areas. By gaining a foothold in the home insurance business, the company will put itself in the best position to expand further.
Similar Posts:
- Comparing Car Insurance Quotes, Confirming Insurance Company Reliability
- What business insurance provides you
- Clements International Officially Becomes Clements Worldwide
- Find Cheap Insurance Quotes Online
- Real Words from the Real World: Flood Insurance is about Education
