A negative claims experience is now just as likely as price to prompt landlords to switch insurance providers, according to new analysis by insight firm Consumer Intelligence.

Research found that 26% of landlords who switched insurer did so to get the cheapest policy available – but an identical 26% were prompted to change due to a bad claims experience with their previous provider. Consumer Intelligence said this finding reveals a significant blind spot for insurers focused only on price.

“Focusing only on price gives you a black-and-white picture of the market, but the reality is in full colour,” said Ian Hughes, chief executive of Consumer Intelligence. “Our research proves that landlords are sophisticated buyers. They weigh the policy, the brand, and their personal experiences right alongside the premium. 

“A single bad claim can completely erase a long-term price advantage. That’s why we’re challenging the industry to look beyond the price line and see the whole picture.”

Consumer Intelligence said its landlord insurance market benchmarking service is designed to provide a “market in full colour” by integrating customer behaviour, proposition value, and brand experience with competitive price tracking. The aim is to give insurers a “unified view” of what drives customer decisions.

For example, traditional data shows that 75% of landlords actively shop around and 55% were quoted a higher price at their last renewal, confirming price sensitivity. However, a more detailed view reveals that over half (53%) of landlords are driven to switch by a blend of factors – with 27% finding a policy offering better cover at a lower price, reflecting the trade-off between value and cost.

“Understanding these deeper drivers of value is the key to sustainable growth,” Hughes added.