25% increase in stock cover at peak seasons
Source: AXA
You'll get a 25% increase in stock cover at peak seasons
Commercial Property
Claims AXA makes that competitors do not (3)
Cover for theft by employees up to £5,000
Source: AXA
cover for theft by employees (up to £5,000)
24-hour legal helpline included
Source: AXA
Legal expenses and a 24-hour legal helpline
Claims competitors make that AXA does not (6)
Trace and access for locating damage to cables and pipes
Source: Hiscox
Trace and access. The cost of locating damage to cables, pipes and drains. Or the source of a gas or water leak.
Emergency services cover including fire extinguishing expenses
Source: Hiscox
Emergency services. This includes fire extinguishing expenses
Loss prevention costs for flood barriers and emergency boarding
Source: Hiscox
Loss prevention costs. We will help to pay the reasonable and necessary cost of protecting your building from imminent damage such as installing flood prevention barriers or emergency boarding to doors and windows
Land decontamination cover after oil spillage
Source: Hiscox
Land decontamination. Support with the cost of decontaminating land on your commercial property after an accidental oil spillage
Damage to solar panels including lost tariff revenue
Source: Hiscox
Damage to solar panels. Including costs due to lost tariff revenue and higher electricity bills.
Unlimited policy changes with no admin fees
Source: Hiscox
With Hiscox, you can make unlimited changes with no admin fees.
Areas where AXA's language is weaker (4)
Accidental damage coverage positioning
AXA says:
— nothing on this topic —Hiscox says:
Accidental damage. Hiscox provides this cover as standard. Including damage from storms, floods and fires
Rebuilding costs and professional fees clarity
AXA says:
Your buildings, fixtures and fittings
Hiscox says:
Rebuilding costs. This includes professional fees and costs associated with rebuilding your workspace
Damage to trees and plants on property
AXA says:
— nothing on this topic —Hiscox says:
Damage to trees and plants. If a fire or explosion at your business' building causes damage to trees and plants on your land, we'll help
Policy flexibility and admin fees
AXA says:
it's good to have the flexibility to choose the extras
Hiscox says:
With Hiscox, you can make unlimited changes with no admin fees.
Differentiation suggestions (5)
Explicitly highlight that accidental damage is provided as standard, similar to Hiscox's positioning, rather than burying it within general coverage descriptions
Hiscox leads with accidental damage as a standard feature. AXA should make this equally prominent to match competitive expectations and reassure customers of comprehensive baseline coverage
Add specific mention of emergency services cover (fire extinguishing expenses) and loss prevention costs (flood barriers, emergency boarding) to the 'What's covered' section
These are concrete, high-value benefits that Hiscox advertises prominently. AXA may already cover these but fails to communicate them, creating a perception gap
Introduce a policy flexibility statement addressing unlimited changes with no admin fees, or clarify AXA's actual policy change terms
Hiscox explicitly markets this as a customer benefit. If AXA offers similar flexibility, stating it would reduce perceived friction and improve competitiveness
Add solar panel damage cover (including lost tariff revenue) to the optional extras list
This is a forward-looking, modern coverage option that Hiscox advertises. It appeals to businesses investing in renewable energy and differentiates AXA as contemporary
Expand the 'What's covered' section to explicitly list trace and access, land decontamination, and damage to trees/plants as standard or optional features
These are specific, tangible benefits that customers may not assume are included. Hiscox's detailed itemization makes their offering feel more comprehensive; AXA's broader language creates ambiguity