Market Overview:
The global jewelry insurance market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for jewelry insurance due to the rising incidence of theft and damage of jewelry. In addition, the growing awareness about the benefits of insurance among consumers is also propelling the growth of this market. The global jewelry insurance market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into damaged, lost & theft, and others segments. The lost & theft segment is expected to account for a major share in terms revenue in 2018 owing to high incidence rates across different regions globally. By application, it can be classified into commercial and personal segments respectively. Personal segment dominated this market with more than 60% share in 2017 due its increasing demand for coverage against loss or damage incurred by individuals on their personal belongings including jewelries . Regionally speaking , North America accounted for maximum revenue share followed by Europe in 2017 .
Product Definition:
Jewelry insurance is a policy that provides coverage for loss, theft, or damage to jewelry. The policy may also provide coverage for certain events such as accidental breakage. The importance of jewelry insurance depends on the value of the jewelry insured. For high-value items, the insurance can provide peace of mind in case of a loss.
Damaged:
The global jewelry insurance market size was valued at USD 2.5 billion in 2015 and is expected to grow at a CAGR of XX% over the forecast period, to reach USD 3.7 billion in 2024.
Lost & Theft:
The global jewelry insurance market is expected to witness significant growth over the forecast period. The primary factor responsible for this growth is increase in demand for jewelry and rise in theft cases across the globe. Jewelry forms a major part of women’s life and they always want to protect their valuables, therefore, increasing theft cases are expected to boost up the demand for such kind of insurance policies.
Application Insights:
The commercial application segment accounted for the largest share of more than 60.0% in 2017. The growth can be attributed to the increasing demand from various end-use industries such as fashion, retail and others. Jewelry is an essential commodity for both male and female consumers in different parts of the world; thus, it has been widely accepted as a gift between friends, families or lovers on occasions such as weddings or anniversaries. As a result, jewelry theft has become common at these occasions which drives up the demand for insurance coverage against jewelry loss or damage.
Personal application was valued at USD 391 million in 2017 owing to rising purchasing power among middle-class population across developing countries including China, India and Brazil who are increasingly spending their extra money on personal accessories including rings.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to retain its dominance over the forecast period as well. This can be attributed to high demand for jewelry and rising cases of jewelery related crimes in the U.S., which has led to an increase in coverage amounts, thereby driving growth of the regional market.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to increasing target population, especially women consumers who buy a large variety of jewelry including expensive earrings, necklaces and bracelets on daily basis from various stores/shops including malls and markets for personal use or gifting purpose. These factors are anticipated boost product sales across retail outlets within Asia Pacific thereby propelling industry expansion at a rapid pace during the projected time frame.
Growth Factors:
- Increasing demand for jewelry due to rising income levels and changing lifestyle trends in developing countries.
- Growth in the e-commerce sector, which is aiding the growth of the jewelry insurance market as online purchases of jewelry are increasing at a rapid pace.
- Proliferation of counterfeit jewelry products, which is driving consumers towards purchasing insurance policies for their precious jewels.
- Rising awareness about the benefits of insurance among consumers, especially in developed countries where jewelers are offering free or discounted rates on premiums for customers who purchase an insurance policy along with their jewelery purchase .
Scope Of The Report
Report Attributes
Report Details
Report Title
Jewelry Insurance Market Research Report
By Type
Damaged, Lost & Theft
By Application
Commercial, Personal
By Companies
Travelers Insurance, Allstate, Berkshire Insurance Group, American Family Insurance, Liberty Mutual, GEICO
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
129
Number of Tables & Figures
91
Customization Available
Yes, the report can be customized as per your need.
Global Jewelry Insurance Market Report Segments:
The global Jewelry Insurance market is segmented on the basis of:
Types
Damaged, Lost & Theft
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
Commercial, Personal
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:
- Travelers Insurance
- Allstate
- Berkshire Insurance Group
- American Family Insurance
- Liberty Mutual
- GEICO
Highlights of The Jewelry 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:
- Damaged
- Lost & Theft
- By Application:
- Commercial
- Personal
- 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 Jewelry 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
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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?
Jewelry insurance is a type of insurance that protects jewelry from theft or damage. It can cover the cost of replacing lost or damaged jewelry, as well as the costs associated with having to go through a police investigation in order to retrieve stolen jewelry.
Some of the major players in the jewelry insurance market are Travelers Insurance, Allstate, Berkshire Insurance Group, American Family Insurance, Liberty Mutual, GEICO.
The jewelry 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 Jewelry 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 Jewelry Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Jewelry 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 Jewelry 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 Jewelry Insurance Market Size & Forecast, 2020-2028
4.5.1 Jewelry Insurance Market Size and Y-o-Y Growth
4.5.2 Jewelry Insurance Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Damaged
5.2.2 Lost & Theft
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Commercial
6.2.2 Personal
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Jewelry 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 Jewelry 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Damaged
9.6.2 Lost & Theft
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 Market Size Forecast by Applications
9.10.1 Commercial
9.10.2 Personal
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Damaged
10.6.2 Lost & Theft
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 Market Size Forecast by Applications
10.10.1 Commercial
10.10.2 Personal
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Damaged
11.6.2 Lost & Theft
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 Market Size Forecast by Applications
11.10.1 Commercial
11.10.2 Personal
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Damaged
12.6.2 Lost & Theft
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 Market Size Forecast by Applications
12.10.1 Commercial
12.10.2 Personal
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Damaged
13.6.2 Lost & Theft
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) Market Size Forecast by Applications
13.10.1 Commercial
13.10.2 Personal
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 Jewelry Insurance Market: Competitive Dashboard
14.2 Global Jewelry Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Travelers Insurance
14.3.2 Allstate
14.3.3 Berkshire Insurance Group
14.3.4 American Family Insurance
14.3.5 Liberty Mutual
14.3.6 GEICO
