These home insurance companies treat their customers most fairly

10/04/2022 – Servicevalue and the editors of Focus-Money magazine wanted to know from customers of home insurance companies how fairly they felt they were treated by the companies. Allianz, Concordia, Cosmos, DEVK, Ergo, Huk24, HUK-Coburg, LVM, Provincial, R+V and VGH performed best. Allianz, DEVK, HUK-Coburg, Provincial and VGH received the top grade “very good” for the fifth time in a row.

For the seventh time, Servicevalue GmbH, in collaboration with the editors of Focus-Money magazine, has investigated which home insurance companies treat customers the most fairly. The study is based on an online consumer survey conducted in August.

They could rate up to two providers that they had been a customer of within the past twelve months. A total of 5,403 judgments were collected from 4,411 customers at 38 companies as part of the survey. In the previous year, there were 3,307 judgments from 2,840 customers at 37 companies (VersicherungsJournal 17 September 2021).

This is how justice was determined

To make the virtual construct “fairness” measurable and thus controllable, the term was parameterized by the following six sub-dimensions with a total of 24 performance characteristics:

  • fair tariff performance (selection of offers, transparency in the scope of coverage, combination options, flexibility of tariffs, extensions of coverage, additional organizational services);
  • Fair customer advice (handling customer needs, answering all questions, professional competence, clarifying the obligation to mitigate damages);
  • fair customer service (employees can be reached, uncomplicated processing of requests, reward of customer loyalty, goodwill in case of complaints/complaints);
  • fair customer communication (binding nature of statements, comprehensibility of communication, extent of information, orientation on the website);
  • fair value for money (value for money, premium stability, reasonable calculation of the sum insured);
  • fair claim settlement (quick response in the event of a claim, uncomplicated case processing, appropriate scope of services).


Rating scale in four levels

A four-point scale was available to consumers for the assessment (“strongly agree” (1), “rather agree” (2), “rather disagree” (3), “strongly disagree” (4)). Regarding the methodology, Servicevalue also stated: “The sub-dimensions result as an unweighted average from the respective evaluation criteria […].

All companies that are above average are rated ‘good’. Companies that, on the other hand, are above the average of companies rated as ‘good’, get a ‘very good’.”

The fairest contents insurance companies from the customer’s point of view

As in the previous year, eleven companies received the top grade “very good” in the overall evaluation, where the six dimensions were equally distributed. These include (in alphabetical order)

Generali Deutschland Versicherung AG has dropped out of the top group after one year of membership. R+V managed to top the list.

Six players in all segments “very good”

Only DEVK, Ergo, Huk-Coburg, LVM, Provincial and VGH are in the top group in all six segments. Allianz (except value for money), Concordia (except customer communication) and Cosmos (except customer service) each received five “very good” ratings.

With Allianz, DEVK, Huk-Coburg, Provincial and VGH, five market participants belong to the “very good” top group for the fifth time in a row (1 October 2020, 11 October 2019, 17 October 2018).

Concordia, Ergo and LVM each managed this four times (each since 2019). Cosmos (since 2020) as well as the liability insurance company VVaG and Helvetia Schweizerische Versicherungs-Gesellschaft AG, Directorate for Germany (each from 2018 to 2020) were among the best providers three times over a five-year period.

The scope of the regulation is particularly important

The main customer loyalty drivers were also determined as part of a relevance analysis (variance explanation of the correlation according to Pearson). The selection of offers, but also the stability of premiums and the transparency of the scope of coverage proved to be the least important.

Adequate service coverage when it comes to regulation, uncomplicated claims handling and goodwill in the event of claims or complaints are particularly important. Homeowners insurance companies scored best in offering choice (average mean: 1.62) and worst in rewarding customer loyalty (2.10).

With regard to “uncomplicated case management”, they only received a relatively mediocre rating (1.83). In the latter criterion, Gothaer and Provincial are joint leaders (1.64 each). LVM secured bronze ahead of Huk24 and Ergo, who were tied.

Damage function (Image: Wichtert)

Further information on the content, purchasing options and price of the 359-page report volume on the survey “Customer Rating: Fairness of Household Contents Insurers 2022” can be found in this survey brochure (PDF, 491 KB).

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