Market Overview:
The global homeowner insurance market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing awareness about homeowner insurance and its benefits, rising number of natural disasters, and growing demand for online services. On the basis of type, the global homeowner insurance market is segmented into tropical cyclone, wildfire, heat waves & drought, severe thunderstorm, winter storm and cold waves, flood, flash flood and earthquake. Of these segments, tropical cyclone is expected to account for the largest share in terms of revenue in 2018. This can be attributed to their high frequency across different regions around the world.
Product Definition:
Homeowner insurance is a type of property insurance that covers damage to a policyholder's home. Homeowner insurance is typically packaged with personal liability coverage, which protects the policyholder from claims arising from accidents that occur on their property.
Tropical Cyclone:
Tropical cyclones are tropical weather systems that form in the Indian and Atlantic Oceans. They travel from west to east, generally parallel to the coastlines of India and Africa. These systems typically have wind speeds between 74-95 miles per hour with heavy rain and high waves.
Wildfire, Heat Waves & Drought:
Wildfire, heat waves & drought are caused by natural disasters that can damage homes and businesses. Wildfire is caused by a rapid change in climate which causes trees to grow faster than they can produce new leaves resulting in the formation of combustible vegetation. Heat waves are formed when hot air rises up creating columns of air that trap the heat causing temperatures to rise beyond normal levels.
Application Insights:
The offline service segment dominated the global homeowner insurance market in 2017. Offline services include personal visits by an agent to a customer¢â‚¬â„¢s house or place of business to deliver policies and collect payments. The agent is available 24*7 for policy questions, claims settlement, and other emergencies related to homeownership.
Online services are preferred by customers who can access their accounts any time from anywhere in the world via computers, mobile phones, tablets or laptops with internet connectivity. Agents providing online services use various mediums such as text messages and e-mails for delivering important information regarding policies purchased through these channels.
Regional Analysis:
North America dominated the global market in 2017. The growth of this region can be attributed to several factors such as rising number of natural calamities, increasing awareness among people for opting home insurance policies, and availability of a large customer base for comparison shopping. Moreover, presence of key players with strong distribution channels is expected to drive the regional market further.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to rapid urbanization and growing population in countries like India and China. Furthermore, government initiatives encouraging people opt for insurance policies are likely to boost demand over the next eight years.
Growth Factors:
- Increasing awareness about the need for homeowner insurance and its benefits
- Rising cost of property due to inflation
- More stringent lending norms by banks and other financial institutions which leads to increased demand for homeowner insurance
- Increased incidence of natural calamities that lead to damage or loss of property
- Growing popularity of home-sharing platforms such as Airbnb that has led to an increase in the number of rented properties
Scope Of The Report
Report Attributes
Report Details
Report Title
Homeowner Insurance Market Research Report
By Type
Tropical Cyclone, Wildfire, Heat Waves & Drought, Severe Thunderstorm, Winter Storm and Cold Waves, Flood, Flash Flood, Earthquake
By Application
Online Service, Offline Service
By Companies
State Farm, Allstate, Liberty Mutual, USAA, Farmers, Travelers, Nationwide, American Family, Chubb, Erie Insurance
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
121
Number of Tables & Figures
85
Customization Available
Yes, the report can be customized as per your need.
Global Homeowner Insurance Market Report Segments:
The global Homeowner Insurance market is segmented on the basis of:
Types
Tropical Cyclone, Wildfire, Heat Waves & Drought, Severe Thunderstorm, Winter Storm and Cold Waves, Flood, Flash Flood, Earthquake
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Online Service, Offline Service
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- State Farm
- Allstate
- Liberty Mutual
- USAA
- Farmers
- Travelers
- Nationwide
- American Family
- Chubb
- Erie Insurance
Highlights of The Homeowner Insurance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Tropical Cyclone
- Wildfire, Heat Waves & Drought
- Severe Thunderstorm
- Winter Storm and Cold Waves
- Flood, Flash Flood
- Earthquake
- By Application:
- Online Service
- Offline Service
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Homeowner Insurance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Homeowner insurance is a type of insurance that protects homeowners from financial losses if their home is damaged or destroyed by an event such as a fire, storm, or burglary. Homeowner policies typically include coverage for damage to the structure itself as well as personal property inside the home.
Some of the major companies in the homeowner insurance market are State Farm, Allstate, Liberty Mutual, USAA, Farmers, Travelers, Nationwide, American Family, Chubb, Erie Insurance.
The homeowner insurance market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Homeowner Insurance Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Homeowner Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Homeowner Insurance Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Homeowner Insurance Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Homeowner Insurance Market Size & Forecast, 2018-2028
4.5.1 Homeowner Insurance Market Size and Y-o-Y Growth
4.5.2 Homeowner Insurance Market Absolute $ Opportunity
Chapter 5 Global Homeowner Insurance Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Homeowner Insurance Market Size Forecast by Type
5.2.1 Tropical Cyclone
5.2.2 Wildfire
5.2.3 Heat Waves & Drought
5.2.4 Severe Thunderstorm
5.2.5 Winter Storm and Cold Waves
5.2.6 Flood
5.2.7 Flash Flood
5.2.8 Earthquake
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Homeowner Insurance Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Homeowner Insurance Market Size Forecast by Applications
6.2.1 Online Service
6.2.2 Offline Service
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Homeowner Insurance Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Homeowner Insurance Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Homeowner Insurance Analysis and Forecast
9.1 Introduction
9.2 North America Homeowner Insurance Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Homeowner Insurance Market Size Forecast by Type
9.6.1 Tropical Cyclone
9.6.2 Wildfire
9.6.3 Heat Waves & Drought
9.6.4 Severe Thunderstorm
9.6.5 Winter Storm and Cold Waves
9.6.6 Flood
9.6.7 Flash Flood
9.6.8 Earthquake
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Homeowner Insurance Market Size Forecast by Applications
9.10.1 Online Service
9.10.2 Offline Service
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Homeowner Insurance Analysis and Forecast
10.1 Introduction
10.2 Europe Homeowner Insurance Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Homeowner Insurance Market Size Forecast by Type
10.6.1 Tropical Cyclone
10.6.2 Wildfire
10.6.3 Heat Waves & Drought
10.6.4 Severe Thunderstorm
10.6.5 Winter Storm and Cold Waves
10.6.6 Flood
10.6.7 Flash Flood
10.6.8 Earthquake
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Homeowner Insurance Market Size Forecast by Applications
10.10.1 Online Service
10.10.2 Offline Service
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Homeowner Insurance Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Homeowner Insurance Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Homeowner Insurance Market Size Forecast by Type
11.6.1 Tropical Cyclone
11.6.2 Wildfire
11.6.3 Heat Waves & Drought
11.6.4 Severe Thunderstorm
11.6.5 Winter Storm and Cold Waves
11.6.6 Flood
11.6.7 Flash Flood
11.6.8 Earthquake
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Homeowner Insurance Market Size Forecast by Applications
11.10.1 Online Service
11.10.2 Offline Service
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Homeowner Insurance Analysis and Forecast
12.1 Introduction
12.2 Latin America Homeowner Insurance Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Homeowner Insurance Market Size Forecast by Type
12.6.1 Tropical Cyclone
12.6.2 Wildfire
12.6.3 Heat Waves & Drought
12.6.4 Severe Thunderstorm
12.6.5 Winter Storm and Cold Waves
12.6.6 Flood
12.6.7 Flash Flood
12.6.8 Earthquake
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Homeowner Insurance Market Size Forecast by Applications
12.10.1 Online Service
12.10.2 Offline Service
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Homeowner Insurance Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Homeowner Insurance Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Homeowner Insurance Market Size Forecast by Type
13.6.1 Tropical Cyclone
13.6.2 Wildfire
13.6.3 Heat Waves & Drought
13.6.4 Severe Thunderstorm
13.6.5 Winter Storm and Cold Waves
13.6.6 Flood
13.6.7 Flash Flood
13.6.8 Earthquake
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Homeowner Insurance Market Size Forecast by Applications
13.10.1 Online Service
13.10.2 Offline Service
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Homeowner Insurance Market: Competitive Dashboard
14.2 Global Homeowner Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 State Farm
14.3.2 Allstate
14.3.3 Liberty Mutual
14.3.4 USAA
14.3.5 Farmers
14.3.6 Travelers
14.3.7 Nationwide
14.3.8 American Family
14.3.9 Chubb
14.3.10 Erie Insurance
