Market Overview:
The global RV 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 recreational vehicles, especially in North America and Europe. In addition, the growing popularity of camping and outdoor activities is also contributing to the growth of this market. The RV insurance market can be segmented on the basis of type into motor homes and campers. Motor homes are further classified into Class A, Class B, and Class C motor homes. The camper segment includes truck campers, folding camping trailers, travel trailers, fifth-wheel RVs (recreational vehicle), and toy haulers/enclosed cargo trailers that are used for camping purposes only a few times a year. On the basis of application, the RV insurance market can be divided into private use and commercial use segments.
Product Definition:
RV insurance is a type of insurance that covers recreational vehicles. This type of insurance is important because it can help protect the owner of the RV in the event that something happens to it.
Motor Homes:
Motor homes are also known as travel trailers or motorized houses. They are built for long-distance traveling and can be used by individuals, families or groups. Motor homes have cooking facilities, beds, living room and bathroom among other amenities. They can be connected to a permanent campsite or parking lot for use while traveling on vacation or business purposes.
The global market is expected to witness significant growth over the forecast period owing to rise in demand from emerging economies such as India.
Campers:
Campers and it's usage in RV insurance market is a coverage provided by most of the insurers that allows the insured to use their personal vehicle as an extension of their home. This coverage includes liability, property damage, medical payments, and loss of third-party claims. The policy holder can make a claim for payment on his/her own terms and conditions with no restrictions or requirements regarding when the loss occurred or how many days are involved in making a claim.
Application Insights:
The commercial application segment accounted for the largest share of over 70.0% in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to an increase in demand for recreational vehicles on a rental basis by companies or groups traveling together as part of a job assignment. These types of vehicles are often referred to as Group-RVs, which offer more protection against loss than standard RVs because they are covered under comprehensive insurance policies offered by specialized insurers.
The private application segment is expected to register the fastest CAGR from 2018 to 2030 owing primarily due to rising disposable income among individuals and families who have been renting recreational vehicles for leisure trips across countries around the world since 2008 when this industry experienced its darkest days after being battered by recession in 2009 that almost put an end on global tourism completely.
Regional Analysis:
North America dominated the global market in 2017. The growth of the regional market can be attributed to rising investments in construction and development of infrastructure by governments as well as private companies. For instance, according to a blog published by Brookings Institution, between 2011 and 2015 alone, government investment increased by USD X trillion while corporate spending rose by USD X billion. This resulted into building around 300 new airports, more than doubled highway capacity (to 4Gbps), added over 150 new hospitals along with other upgrades worth USD X trillion.
Asia Pacific is expected to witness significant growth during the forecast period owing to increasing disposable income especially among middle-class groups in developing countries such as India and China; growing tourism sector mainly driven by domestic travelers; improving road infrastructure due to rise in foreign direct investment (FDI) from various sectors such as hospitality and retail etc.
Growth Factors:
- Increasing demand for recreational vehicles from the tourism sector
- Rising popularity of camping and outdoor activities among people of all age groups
- Proliferation of RV dealers and service centers across the country
- Introduction of innovative insurance products and services by insurers
- Growing awareness about the benefits of RV insurance among consumers
Scope Of The Report
Report Attributes
Report Details
Report Title
RV Insurance Market Research Report
By Type
Motor Homes, Campers
By Application
Private, Commercial
By Companies
Good Sam, RVInsurance.com, National General, Progressive, Blue Sky, RV America Insurance, Esurance, SafeCo, National Interstate, Foremost
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
133
Number of Tables & Figures
94
Customization Available
Yes, the report can be customized as per your need.
Global RV Insurance Market Report Segments:
The global RV Insurance market is segmented on the basis of:
Types
Motor Homes, Campers
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
Private, Commercial
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:
- Good Sam
- RVInsurance.com
- National General
- Progressive
- Blue Sky
- RV America Insurance
- Esurance
- SafeCo
- National Interstate
- Foremost
Highlights of The RV 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:
- Motor Homes
- Campers
- By Application:
- Private
- Commercial
- 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 RV 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?
RV insurance is a type of insurance that covers the cost of repairing or replacing your RV if it is damaged while you are using it.
Some of the major companies in the rv insurance market are Good Sam, RVInsurance.com, National General, Progressive, Blue Sky, RV America Insurance, Esurance, SafeCo, National Interstate, Foremost.
The rv 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 RV 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 RV Insurance Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 RV 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 RV 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 RV Insurance Market Size & Forecast, 2018-2028 4.5.1 RV Insurance Market Size and Y-o-Y Growth 4.5.2 RV Insurance Market Absolute $ Opportunity
Chapter 5 Global RV 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 RV Insurance Market Size Forecast by Type
5.2.1 Motor Homes
5.2.2 Campers
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global RV 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 RV Insurance Market Size Forecast by Applications
6.2.1 Private
6.2.2 Commercial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global RV 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 RV 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 RV Insurance Analysis and Forecast
9.1 Introduction
9.2 North America RV 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 RV Insurance Market Size Forecast by Type
9.6.1 Motor Homes
9.6.2 Campers
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 RV Insurance Market Size Forecast by Applications
9.10.1 Private
9.10.2 Commercial
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 RV Insurance Analysis and Forecast
10.1 Introduction
10.2 Europe RV 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 RV Insurance Market Size Forecast by Type
10.6.1 Motor Homes
10.6.2 Campers
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 RV Insurance Market Size Forecast by Applications
10.10.1 Private
10.10.2 Commercial
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 RV Insurance Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific RV 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 RV Insurance Market Size Forecast by Type
11.6.1 Motor Homes
11.6.2 Campers
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 RV Insurance Market Size Forecast by Applications
11.10.1 Private
11.10.2 Commercial
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 RV Insurance Analysis and Forecast
12.1 Introduction
12.2 Latin America RV 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 RV Insurance Market Size Forecast by Type
12.6.1 Motor Homes
12.6.2 Campers
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 RV Insurance Market Size Forecast by Applications
12.10.1 Private
12.10.2 Commercial
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) RV Insurance Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) RV 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) RV Insurance Market Size Forecast by Type
13.6.1 Motor Homes
13.6.2 Campers
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) RV Insurance Market Size Forecast by Applications
13.10.1 Private
13.10.2 Commercial
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 RV Insurance Market: Competitive Dashboard
14.2 Global RV Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Good Sam
14.3.2 RVInsurance.com
14.3.3 National General
14.3.4 Progressive
14.3.5 Blue Sky
14.3.6 RV America Insurance
14.3.7 Esurance
14.3.8 SafeCo
14.3.9 National Interstate
14.3.10 Foremost