The UK's 10 biggest car insurance companies in 2022 have been named.

The UK’s 10 biggest car insurance companies in 2022 have been named.

More than 70% of car insurance policies in the UK are written by the 10 biggest car insurers. In 2021, the gross written premiums of these 10 companies will add up to £11.3 billion. NimbleFins, a website for personal finance research and analytics, has found that these companies also control 85% of the market.

But even though only a few big companies control most of the auto insurance market, the products, services, and benefits that these companies offer are very different.

NimbleFins looked through SFRC regulatory reports, press releases, annual financial statements, and risk management reports to find each company’s GWP. This helped them find the best car insurance companies in the UK. The website also looked at complaint data from the Financial Conduct Authority (FCA) and the Financial Ombudsman Service (FOS).

Based on the firm’s research, here are the best car insurance companies in the UK.

  1. Admiral Group

Market share: 14%

£2.237 billion in gross written premiums

Own brands and price comparison websites are ways to sell products.

Admiral, Bell, Diamond, elephant.co.uk, and Gladiator are all brands of car insurance.

Financial strength ratings: A (Fitch) (Fitch)

Admiral is an insurance company that specializes in car insurance. It offers different levels of coverage and benefits through its different brands. It offers the most protection with its all-inclusive plan, which covers the windshield, stereo, child car seat, and reconstruction for cars that are less than a year old. The policy also covers policyholders for longer if they drive in Europe for up to 90 days.

Last year, Admiral came out with a number of car-related products, such as insurance for delivery drivers and couriers and a low-cost plan called Admiral Essentials that was sold through price comparison sites. The insurance company also came out with the Admiral virtual assistant (AVA), which was made to answer customers’ most common questions and concerns. Clients can also use the tool to make changes to their policies, make a claim, or look at the details of an existing policy.

NimbleFins said, “Admiral can be a great auto insurance company for anyone who wants to set up a policy fast and for a good price online.” “Their brands can be found on most price comparison sites, and one of their brands may be among the cheapest ones.”

  1. Direct Line Group

Market share: 10.8%

Gross premiums written: 1.73 billion pounds

Own brands and price comparison websites are ways to sell products.

Direct Line, Churchill, Darwin, and Privilege are all brands of car insurance.

(Moody’s) A1 for financial strength.

Direct Line’s car insurance policies come with a good set of standard features, such as a promise to replace a vandalized car and a promise to settle claims fairly. The insurance company also has great customer service, which is shown by the fact that Trustpilot gives it a top 10 rating.

Direct Line has a partnership with Volkswagen. Through its UK Insurance unit, Direct Line offers short-term and annual policies to people who buy new or used cars from Volkswagen, SEAT, Audi, and koda dealers.

The insurance company has recently shifted its focus to digitalizing its claims process to make it faster and easier for customers. It also put £2 million into a new car technology center to improve how well it can fix cars and started offering insurance for electric cars.

Direct Line Group raises prices to get back to making money.

  1. Aviva

Market share: 10.5%

Gross premiums written: £1,677,000,000

Own brands and price comparison websites are ways to sell products.

Aviva, Quotemehappy.com, One Call, and General Accident are all car insurance brands.

The ratings for financial strength come from Moody’s, S&P, and AA- (Fitch)

Aviva is known as one of the best multi-car insurance companies in the UK, and it gives customers discounts of up to 10% on their premiums. The insurance company is also getting more popular on websites that compare prices, and its Quotemehappy.com brand has some of the lowest rates. Aviva also has one of the best customer ratings on Trustpilot out of all the companies on the list.

Last year, the company added more coverage for electric vehicles to its personal lines auto insurance. This included coverage for roadside breakdown, electrical surges, and accessories.

NimbleFins says, “Depending on where you live, Quotemehappy may be one of the cheapest places to get insurance.” “However, if you’ve been in an accident in the last five years, Aviva may charge you more than other companies.”

Aviva wants drivers to remember not to throw caution to the wind.

  1. HastingsDirect.com

Market share: 7%

Gross premiums written: £1,111,000,000

Own brands and price comparison websites are ways to sell products.

Hastings, insurePink, and People’s Choice are all car insurance brands.

Grades for financial strength: A- (Fitch)

Hastings Direct offers flexible car insurance with a number of benefits. Policyholders can add optional features, such as enhanced personal accident cover, breakdown, motor legal expenses, and key protection. The only way to get the cheapest Hastings Essential car insurance is through a price comparison website. However, the company also offers Direct and Premium, which offer higher levels of coverage.

NimbleFins says that Hasting Direct is proud of its “simple and straightforward insurance,” which is clear from the fact that its policy documents are “easier to understand than some of the competition.”

Hastings Direct also keeps putting money into digital features, like a customer portal and an app that let customers buy things online and manage their accounts.

  1. AXA

Market share: 6.1%

Gross premiums written: 969 million pounds

Directly, through outside brands, and through broker partners.

The ratings for financial strength come from Moody’s, S&P, and AA- (Fitch)

AXA has its own brand of auto insurance that it sells. It also backs policies for a number of other companies, such as mypolicy.co.uk and By Miles, which offers pay-per-mile insurance. Customers would expect a large international insurance company to offer standard coverage with a good set of features and discounts, which is what this company does. Among these are a guarantee on repairs for life, 90 days of driving in Europe, and protection for the audio and navigation systems.

Read: AXA sells day-to-day insurance.

  1. LV=

Market share: 5.8%

Total premiums paid out: £932 million

Directly, through broker partners, and on price comparison websites.

As3 (Moody’s) and AA (American Association of Accredited (S&P)

LV=’s growth in the car insurance market can be attributed to the fact that its multi-car offering has led to high renewal rates and new sales. LV= Broker’s Clear Car Insurance, which is offered by Volvo, Dacia, Hyundai, Jaguar, Kia, Land Rover, Mazda, MG, Mitsubishi, Renault, and Suzuki, is another way the insurance company covers cars. The LV= Highway Insurance Company is in charge of these branded coverages.

“LV= is in the middle of the pack when it comes to price, but we think it’s one of the best car insurance companies because its customers love it and it has great features,” NimbleFins said. “LV=’s full coverage comes with extras like personal injury, uninsured driver promise (you won’t have to pay an excess or lose your NCD), and misfuelling cover for people who want more coverage.

  1. esure

Market share: 4.2%

Gross premiums written: 679 million pounds

Channels of sales: Own brands

esure and Sheila’s Wheels are two car insurance brands.

Scores for financial strength: N/A

esure has full policies that include a rental car and a five-year guarantee on repairs done through its network. Policyholders can also save 10% if they buy a plan that covers more than one car.

NimbleFins says that esure’s prices aren’t as low as some of the real budget options on the top 10 list. However, all of esure’s policies are rated 5 stars by Defaqto because they include things like a courtesy car, windscreen cover, and personal injury on their comprehensive policies. “Over the past year, their Trustpilot score has also gone up in a big way.”

Read: esure finds car insurance fraud

  1. RSA

Market share: 4.1%

£661 million in gross written premiums

Channels of distribution: directly and through other brands

Brands of car insurance: More Than

The ratings for financial strength are A2 (Moody’s) and AA- (Fitch)

Through its More Th>n brand, RSA sells auto insurance plans. The most important parts of its comprehensive plans are the wrong fuel, courtesy car, personal accident, and windscreen cover, uninsured driver promise, and 24/7 emergency assistance. The insurance company also writes policies for Clydesdale Bank and ingenie, among others.

More work needs to be done on driverless cars, says RSA.

  1. Ageas

Market share: 4.1%

Total premiums paid out: £654 million

Directly, through broker partners, and on price comparison websites.

Ratings for financial strength: A+ (S&P), AA- (Fitch)

Ageas also manages policies for Age Co and has partnerships with Sainsbury’s Bank, Co-Op Insurance, Marmalade, and GoShorty. It also sells its own car insurance. It has one of the best Trustpilot scores on the list, which is mostly because its claims process has been made digital. NimbleFins says that this has cut the time it takes to get approval for a motor from two to three hours to two to three minutes.

  1. NFU Mutual

Market share: 3.9%

Gross written premiums: £626 million

Channels of distribution: directly

Scores for financial strength: N/A

NFU Mutual is the only mutual insurer on the list. It is known for having great customer service, which is shown by the fact that it has a low number of complaints with the FOS. The company doesn’t offer quotes online. Instead, customers can go to one of its more than 300 offices across the country. Quotes, questions, and claims are taken care of by over 650 agents and a call center in the UK.

“NFU Mutual is a great choice for car insurance if you don’t want to buy your policy online and would rather talk to someone about it before you buy,” NimbleFins said.

Members of NFU Mutual can also get a discount on new cars from Audi, Fiat, Ford, and other brands.

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