Product Code: r8625
“Home Insurance Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on home insurance market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for home insurance? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The home insurance market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Scope
Markets Covered:
- 1) By Coverage: Dwelling Coverage; Content Coverage; Liability Coverage Banking; Other Coverages
- 2) By Provider: Insurance Companies; Insurance Agents Or Brokers; Other Providers
- 3) By End User: Landlords; Tenants
- Companies Mentioned: MetLife Inc.; American International Group Inc.; Allstate Insurance Company; Liberty Mutual Insurance; The Progressive Corporation
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Italy; Spain; Canada
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the home insurance market are: MetLife Inc., American International Group Inc., Allstate Insurance Company, Liberty Mutual Insurance, The Progressive Corporation, State Farm Mutual Automobile Insurance Company, Chubb Group of Insurance Companies, Zurich Insurance Group Ltd., Travelers Property Casualty Corp, The United Services Automobile Association , The Hartford Financial Services Group Inc., Allianz SE, Aon PLC, American Family Insurance, Kemper Corporation, The Hanover Insurance Group Inc., Nationwide Building Society, Admiral Group plc, Mercury General Corporation, Erie Insurance Group, Amica Mutual Insurance, Shelter Insurance Company, Safeco Insurance, Tokio Marine Insurance Group, Future Generali India Life Insurance Co, National Insurance Company Limited, Cholamandalam MS General Insurance Company Ltd., Farmers Insurance Co Inc., and IFFCO Tokio General Insurance Company Ltd.
The global home insurance market is expected to grow from $243.40 billion in 2022 to $265.61 billion in 2023 at a compound annual growth rate (CAGR) of 9.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The home insurance market is expected to reach $360.89 billion in 2027 at a CAGR of 8.0%.
The home insurance market includes revenues earned by entities through safety, property protection, and damage expenses. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Home insurance is a policy that pays for expenses and damage to the home or any other insured property. People get home insurance to protect their bungalow, apartment, rental flat, owned house, or newly constructed home from potential threats.
North America was the largest region in the home insurance market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the home insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of home insurance coverages are dwelling coverage, content coverage, liability coverage banking, and others. Dwelling coverage refers to the portion of a homeowners insurance policy that, if a covered hazard damages the actual structure of the home, may assist in paying for its reconstruction or repair. The various providers are insurance companies, insurance agents or brokers, and others that provide home insurance to landlords, and tenants.
The increasing number of households is expected to propel the growth of the home insurance market going forward. A household is a family or a collection of people who reside together. Home insurance provides a complete defense against a range of dangers for people's households, other residential buildings, and their belongings. For instance, in June 2023, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, US-based government administrations, the number of privately owned home completions in May 2023 was 1,518,000 on a seasonally adjusted yearly basis increased by 5.0% from 1,446,000 in May 2022. Further, In May 2023, privately owned home starts occurred at a seasonally adjusted annual pace of 1,631,000, increased by 21.7% from 1,543,000 in May 2022. Therefore, the increasing number of households is driving the growth of the home insurance market.
Technological advancements are a key trend gaining popularity in the home insurance market. Major companies operating in the home insurance market are adopting new technologies to sustain their position in the market. For instance, in July 2023, Tensorflight, a US-based software company, launched TensorAssist, its latest chatbot assistant powered by OpenAI's ChatGPT-4 technology. The new offering enables current Tensorflight commercial property insurance customers to quickly comprehend its property intelligence platform's wide diversity of data points. Tensorflight's virtual artificial intelligence (AI) assistant, explicitly created for the property insurance industry, will act as a priceless expert in property analysis and ultimately be able to offer users detailed knowledge and perspectives on any requested property as well as advice on related risks.
In February 2023, Slide Insurance, a US-based insurance company, acquired the renewal rights to over 91,400 Florida homeowners' insurance policies from UPC Insurance for an undisclosed amount. Through this acquisition, Slide's in-force premium is now worth $560 million in total, where most of the policies will be canceled by UPC, and Slide will immediately issue new guidelines using UPC's forms and pricing. UPC Insurance is a US-based insurance company that offers its customers home insurance, property and casualty insurance, and other kinds of insurance.
The countries covered in the home insurance market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The home insurance market research report is one of a series of new reports from The Business Research Company that provides home insurance market statistics, including home insurance industry global market size, regional shares, competitors with a home insurance market share, detailed home insurance market segments, market trends and opportunities, and any further data you may need to thrive in the home insurance industry. This home insurance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Table of Contents
1. Executive Summary
2. Home Insurance Market Characteristics
3. Home Insurance Market Trends And Strategies
4. Home Insurance Market - Macro Economic Scenario
- 4.1. Impact Of High Inflation On Online Therapy Services Market
- 4.2. Ukraine-Russia War Impact On Online Therapy Services Market
- 4.3. COVID-19 Impact On Online Therapy Services Market
- 5.1. Global Home Insurance Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
- 5.2. Global Home Insurance Historic Market Size and Growth, 2017 - 2022, Value ($ Billion)
- 5.3. Global Home Insurance Forecast Market Size and Growth, 2022 - 2027, 2032F, Value ($ Billion)
6. Home Insurance Market Segmentation
- 6.1. Global Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Dwelling Coverage
- Content Coverage
- Liability Coverage Banking
- Other Coverages
- 6.2. Global Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Insurance Companies
- Insurance Agents Or Brokers
- Other Providers
- 6.3. Global Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Landlords
- Tenants
7. Home Insurance Market Regional And Country Analysis
- 7.1. Global Home Insurance Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Home Insurance Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Home Insurance Market
- 8.1. Asia-Pacific Home Insurance Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.4. Asia-Pacific Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Home Insurance Market
- 9.1. China Home Insurance Market Overview
- 9.2. China Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.4. China Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Home Insurance Market
- 10.1. India Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.3. India Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Home Insurance Market
- 11.1. Japan Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.3. Japan Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Home Insurance Market
- 12.1. Australia Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.3. Australia Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Home Insurance Market
- 13.1. Indonesia Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.3. Indonesia Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Home Insurance Market
- 14.1. South Korea Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.3. South Korea Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Home Insurance Market
- 15.1. Western Europe Home Insurance Market Overview
- 15.2. Western Europe Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.4. Western Europe Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Home Insurance Market
- 16.1. UK Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.3. UK Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Home Insurance Market
- 17.1. Germany Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.3. Germany Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Home Insurance Market
- 18.1. France Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.3. France Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Italy Home Insurance Market
- 19.1. Italy Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.2. Italy Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Italy Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Spain Home Insurance Market
- 20.1. Spain Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Spain Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.3. Spain Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. Eastern Europe Home Insurance Market
- 21.1. Eastern Europe Home Insurance Market Overview
- 21.2. Eastern Europe Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. Eastern Europe Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.4. Eastern Europe Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. Russia Home Insurance Market
- 22.1. Russia Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.2. Russia Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. Russia Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. North America Home Insurance Market
- 23.1. North America Home Insurance Market Overview
- 23.2. North America Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. North America Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.4. North America Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. USA Home Insurance Market
- 24.1. USA Home Insurance Market Overview
- 24.2. USA Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.3. USA Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.4. USA Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Canada Home Insurance Market
- 25.1. Canada Home Insurance Market Overview
- 25.2. Canada Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Canada Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.4. Canada Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. South America Home Insurance Market
- 26.1. South America Home Insurance Market Overview
- 26.2. South America Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. South America Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.4. South America Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Brazil Home Insurance Market
- 27.1. Brazil Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 27.2. Brazil Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 27.3. Brazil Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
28. Middle East Home Insurance Market
- 28.1. Middle East Home Insurance Market Overview
- 28.2. Middle East Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 28.3. Middle East Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 28.4. Middle East Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
29. Africa Home Insurance Market
- 29.1. Africa Home Insurance Market Overview
- 29.2. Africa Home Insurance Market, Segmentation By Coverage, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 29.3. Africa Home Insurance Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 29.4. Africa Home Insurance Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
30. Home Insurance Market Competitive Landscape And Company Profiles
- 30.1. Home Insurance Market Competitive Landscape
- 30.2. Home Insurance Market Company Profiles
- 30.2.1. MetLife Inc.
- 30.2.1.1. Overview
- 30.2.1.2. Products and Services
- 30.2.1.3. Strategy
- 30.2.1.4. Financial Performance
- 30.2.2. American International Group Inc.
- 30.2.2.1. Overview
- 30.2.2.2. Products and Services
- 30.2.2.3. Strategy
- 30.2.2.4. Financial Performance
- 30.2.3. Allstate Insurance Company
- 30.2.3.1. Overview
- 30.2.3.2. Products and Services
- 30.2.3.3. Strategy
- 30.2.3.4. Financial Performance
- 30.2.4. Liberty Mutual Insurance
- 30.2.4.1. Overview
- 30.2.4.2. Products and Services
- 30.2.4.3. Strategy
- 30.2.4.4. Financial Performance
- 30.2.5. The Progressive Corporation
- 30.2.5.1. Overview
- 30.2.5.2. Products and Services
- 30.2.5.3. Strategy
- 30.2.5.4. Financial Performance
31. Home Insurance Market Other Major And Innovative Companies
- 31.1. State Farm Mutual Automobile Insurance Company
- 31.2. Chubb Group of Insurance Companies
- 31.3. Zurich Insurance Group Ltd.
- 31.4. Travelers Property Casualty Corp
- 31.5. The United Services Automobile Association
- 31.6. The Hartford Financial Services Group Inc.
- 31.7. Allianz SE
- 31.8. Aon PLC
- 31.9. American Family Insurance
- 31.10. Kemper Corporation
- 31.11. The Hanover Insurance Group Inc.
- 31.12. Nationwide Building Society
- 31.13. Admiral Group plc
- 31.14. Mercury General Corporation
- 31.15. Erie Insurance Group
32. Global Home Insurance Market Competitive Benchmarking
33. Global Home Insurance Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Home Insurance Market
35. Home Insurance Market Future Outlook and Potential Analysis
- 35.1 Home Insurance Market In 2027 - Countries Offering Most New Opportunities
- 35.2 Home Insurance Market In 2027 - Segments Offering Most New Opportunities
- 35.3 Home Insurance Market In 2027 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies
36. Appendix
- 36.1. Abbreviations
- 36.2. Currencies
- 36.3. Historic And Forecast Inflation Rates
- 36.4. Research Inquiries
- 36.5. The Business Research Company
- 36.6. Copyright And Disclaimer