Home Insurance Market Detailed Analysis of Current Industry Trends, Growth Forecast To 2030

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Global Home Insurance Market size was valued at USD 278.22 Bn in 2023 and is expected to reach USD 492.49 Bn by 2030, at a CAGR of 8.5%.

The growth of the Home Insurance Market is driven by factors such as mortgage lender requirements and the increasing adoption of home-sharing and short-term rentals. The report on this market offers a comprehensive analysis of trends, forecasts, and monetary values. Both qualitative and quantitative approaches are employed to analyze market data, with the bottom-up approach used for estimating the Home Insurance market size.

Home insurance, often known as homeowner's insurance, is a sort of property insurance that protects homeowners financially from different dangers and losses to their property. This insurance coverage protects personal belongings, the home, liability, and additional living expenses in the event of a specified incident or risk. The fundamental goal of home insurance is to protect homeowners from financial losses caused by unanticipated catastrophes such as fire, vandalism, natural disasters, and other covered risks. It often covers coverage for personal items, the home itself, and responsibility for property damage caused on the homeowner's premises.

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Regional Insights of the Home Insurance Market

North America dominated the Home Insurance Market in 2022 and is expected to continue its dominance during the forecast period. The United States is the major market for Home Insurance which drive significant growth in the regional market. In the world, the United States has one of the highest homeownership rates. A considerable portion of the population owns homes which leads to substantial demand for home insurance. North America including the United States and Canada, has a large population base and a vigorous housing market. The combination of a sizable population and a strong housing market has been creating a significant home insurance market.

Home Insurance Market Segmentation

by Coverage

Comprehensive Coverage
Dwelling Coverage
Content Coverage
Others

by Provider

Insurance Companies
Insurance Agents/Brokers
Others

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Home Insurance Market Key Players:

1. Allianz (Germany)
2. Admiral Group Plc (United Kingdom)
3. American International Group, Inc(US)
4. AXA(France)
5. Allstate Insurance Company(US)
6. Chubb(Switzerland)
7. State Farm Mutual Automobile Insurance Company(US)
8. Liberty Mutual Insurance(US)
9. Nationwide Mutual Insurance Company(US)
10. Travelers Indemnity Company(US)

Maximize Market Research is leading research firm, has also published the following reports:

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