The global commercial insurance prices rose by 9% in the second quarter of 2022, which made it the sixth consecutive quarter having a slow rate. The insurance industry is changing, and that’s no secret. And though the changes are happening slowly (and not without some pushback), it’s clear that there’s a new normal in our future. 

For consumers, this means more choices and better products. For insurers, it means they need to adapt or risk losing market share fast, which they do if they don’t innovate at the pace of change. This post will look at innovative insurance products from some of the top insurance companies.

Home Cover for Holiday Homes

A holiday home can be an excellent investment, but only if you know how to protect it. Holiday homes are a great way to generate additional income and offer a more relaxed environment to enjoy your time off. However, they present many risks that need to be addressed before they can be used safely. You can get holiday home cover for houses that are empty for more than 30 consecutive days. You can get insurance for both the building and its content.

Having the right insurance policy is essential when buying and owning a holiday home, as this will protect against any damage or loss that could occur while you’re away from your primary residence. Many different types of policies are available on the market today, including buildings cover, contents cover, liability cover, and personal accident cover. These can help ensure that your property remains safe during its ownership period.

Insuring Motoring Enthusiasts’ Classic Cars

If a report is to be believed, the classic car insurance industry will be valued at £717.2m in 2022 in terms of revenue. If you’re an auto enthusiast and have a classic car, you spend a lot of time and money on maintaining it. Be it the classic cars or their parts, they all need to be adequately insured. If your classic car is not appropriately insured, issues may arise later in the future when claiming damages or repairing costs.

Classic car insurance policies come with various types of coverage such as third-party liability, comprehensive and collision coverage, along with other add-on options like personal accident cover, which will help in paying medical bills incurred during an accident even if it’s not related to your vehicle but due to reasons like getting struck by something falling from above, etc.

Cover for the Leisure Industry

The leisure industry is a growing market, with more and more people taking their leisure time seriously. The cover for the leisure industry is a niche market, but it’s new enough that there are still many untapped opportunities for underwriters to develop innovative products.

For example, if you’re an entrepreneur with an excellent idea for an app or service that could help people make their leisure time more efficient or fun. You can contact your insurance provider about developing a custom policy just for your business model.

Insurance for the Construction Industry

If you own or manage a construction company, you must consider what type of insurance your business needs. Whether you’re building new homes, repairing roads, or renovating buildings, the right insurance can protect your company against all potential losses.

Construction insurance is designed to cover contractors and sub-contractors in case their work is delayed or interrupted by an accident or natural disaster. It also protects if someone gets injured on site and needs medical attention and financial compensation for lost wages during recovery time—and for those who may be permanently disabled due to their injuries.

International Property Insurance

International property insurance is a type of coverage that protects personal property outside of the country where it is located. It can include homes, cars, and more. International property insurance is essential because it helps protect your home and belongings from potential damage or loss while abroad. With international property insurance, you can rest assured knowing that you will be covered if something happens to your home while abroad.

When purchasing international property insurance, you should buy the right cover for your needs. It’s essential to get enough coverage to protect your belongings against potential damages and losses while traveling abroad on business or vacation, so talk with an agent about what kind of policy would work best for you before making any purchases.


So there you have it, the top innovative insurance products that change how we look at insurance. There are many other innovative products, but these five were chosen as they cover all our needs as consumers and businesses. From protecting your home and belongings to insuring yourself for your travels or even paying for parking tickets, these products ensure you never have to worry about anything again.