Insights Into The Home Insurance Market’s Growth Potential 2023-2032
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The global home insurance market size 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 home insurance market is expected to reach $360.89 billion in 2027 at a CAGR of 8.0%.
What will drive the home insurance market?
The increasing number of households is expected to propel the growth of the home insurance market going forward.
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Who are the major players in the market?
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.
Which trend is gaining popularity in 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.
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How is the home insurance market segmented?
Global Home Insurance Market Segments Include:
- By Coverage: Dwelling Coverage, Content Coverage, Liability Coverage Banking, Other Coverages
- By Provider: Insurance Companies, Insurance Agents Or Brokers, Other Providers
- By End User: Landlords, Tenants
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global home insurance market in 2021.
The Home Insurance Global Market Report 2023 provides an overview of the home insurance market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The home insurance market forecast analyzes home insurance market size, home insurance market share, leading competitor and their market positions.
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.
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