Market Overview:
The global sailboat 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 sailboats across the globe, coupled with the rising awareness about safety and security measures while sailing. In terms of type, the actual cash value segment is expected to hold a larger share of the global sailboat insurance market during the forecast period, owing to its lower premiums as compared to other types of coverage. By application, commercial use is expected to be a key segment for sailboat insurance in terms of revenue contribution during 2018-2030.
Product Definition:
Sailboat insurance is a type of boat insurance that covers the costs associated with repairing or replacing a sailboat. Sailboat insurance can also provide coverage for personal belongings that are on the sailboat, as well as liability protection in case of an accident. The importance of sailboat insurance depends on the individual boater's needs and preferences. Some people may feel that it is important to have coverage in case their boat is damaged or lost, while others may not feel that it is necessary since they do not rely on their boat for transportation.
Actual Cash Value:
Actual Cash Value (ACV) is a type of coverage that provides the boat owner with an amount equal to the insured value of the boat, less any claims or losses. The policy holder is also responsible for paying all expenses resulting from damage to third parties caused by covered assets.
The primary factor driving ACV demand in sailboat insurance market is its usage as a substitute for cash which would be paid in case of loss or damage.
Agreed Amount Value:
The agreed amount value is the total cost to be paid by the yacht or ship policyholders for all damage and loss occurrence during a voyage. It is also known as hull value insurance, coastal/Yachting insurance or marine/yacht insurance. The agreed amount value can be either pre-printed on the policy form (instructions to be filled by user) or can be calculated based on an analysis of historic losses using industry average data provided by syndicates.
Application Insights:
The commercial use segment held the largest market share of more than 60% in 2017. The segment is expected to witness significant growth over the forecast period owing to rising demand for passenger ferries, cruise ships and other similar vessels. Increasing tourism in countries such as China, India, Australia and New Zealand is also likely to boost industry growth over the forecast period.
Personal use boats are widely used for recreational purposes such as fishing, cruising along with friends or family members on holiday destinations or around a specific area of waterbody known as a beat where one can often find solitude and serenity away from hectic city life. Rising disposable income levels coupled with changing lifestyle have led people towards purchasing these types of boats which has subsequently increased their popularity among consumers globally.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has a large number of recreational users as well as a growing number of water sports participants, which have resulted in an increased demand for insurance policies. Furthermore, countries such as China and India are witnessing rapid growth in marine tourism owing to factors such as cheaper travel costs and availability of natural resources that can be used for boating activities. This trend is projected to further boost the regional sailboat insurance market growth over the forecast period.
Europe accounted for more than 20% share of total revenue in 2017 due to high incidence rate of maritime accidents coupled with rising awareness about boat owners liability across European countries including Croatia, Greece, Italy, Spain & Turkey among others.
Growth Factors:
- Increasing demand for sailboats due to their growing popularity as a leisure activity
- Rising awareness about the benefits of sailboat insurance among boat owners
- The increasing number of sailing events and races being organized worldwide
- The growing popularity of sailing as a competitive sport
- The increasing spending on luxury items by affluent consumers
Scope Of The Report
Report Attributes
Report Details
Report Title
Sailboat Insurance Market Research Report
By Type
Actual Cash Value, Agreed Amount Value
By Application
Commercial Use, Personal Use
By Companies
Zurich, AXA, AVIVA, State Farm, Allianz, Berkshire Hathaway, Sompo Japan Nipponkoa, Berkshire Hathaway, Markel Corporation, Kemper Corporation, Allstate, MetLife, PingAn, Westfield, Westpac, RAA
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
174
Number of Tables & Figures
122
Customization Available
Yes, the report can be customized as per your need.
Global Sailboat Insurance Market Report Segments:
The global Sailboat Insurance market is segmented on the basis of:
Types
Actual Cash Value, Agreed Amount Value
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 Use, Personal Use
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:
- Zurich
- AXA
- AVIVA
- State Farm
- Allianz
- Berkshire Hathaway
- Sompo Japan Nipponkoa
- Berkshire Hathaway
- Markel Corporation
- Kemper Corporation
- Allstate
- MetLife
- PingAn
- Westfield
- Westpac
- RAA
Highlights of The Sailboat 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:
- Actual Cash Value
- Agreed Amount Value
- By Application:
- Commercial Use
- Personal Use
- 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 Sailboat 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
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- 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?
Sailboat insurance is a type of insurance that covers the costs associated with owning and operating a sailboat. This coverage can include things like property damage, personal injury, and loss of the boat. Sailboat insurance can be expensive, so it's important to compare rates before purchasing coverage.
Some of the key players operating in the sailboat insurance market are Zurich, AXA, AVIVA, State Farm, Allianz, Berkshire Hathaway, Sompo Japan Nipponkoa, Berkshire Hathaway, Markel Corporation, Kemper Corporation, Allstate, MetLife, PingAn, Westfield, Westpac, RAA.
The sailboat 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 Sailboat 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 Sailboat Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Sailboat 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 Sailboat 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 Sailboat Insurance Market Size & Forecast, 2018-2028
4.5.1 Sailboat Insurance Market Size and Y-o-Y Growth
4.5.2 Sailboat Insurance Market Absolute $ Opportunity
Chapter 5 Global Sailboat 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 Sailboat Insurance Market Size Forecast by Type
5.2.1 Actual Cash Value
5.2.2 Agreed Amount Value
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Sailboat 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 Sailboat Insurance Market Size Forecast by Applications
6.2.1 Commercial Use
6.2.2 Personal Use
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Sailboat 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 Sailboat 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 Sailboat Insurance Analysis and Forecast
9.1 Introduction
9.2 North America Sailboat 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 Sailboat Insurance Market Size Forecast by Type
9.6.1 Actual Cash Value
9.6.2 Agreed Amount Value
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 Sailboat Insurance Market Size Forecast by Applications
9.10.1 Commercial Use
9.10.2 Personal Use
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 Sailboat Insurance Analysis and Forecast
10.1 Introduction
10.2 Europe Sailboat 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 Sailboat Insurance Market Size Forecast by Type
10.6.1 Actual Cash Value
10.6.2 Agreed Amount Value
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 Sailboat Insurance Market Size Forecast by Applications
10.10.1 Commercial Use
10.10.2 Personal Use
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 Sailboat Insurance Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Sailboat 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 Sailboat Insurance Market Size Forecast by Type
11.6.1 Actual Cash Value
11.6.2 Agreed Amount Value
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 Sailboat Insurance Market Size Forecast by Applications
11.10.1 Commercial Use
11.10.2 Personal Use
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 Sailboat Insurance Analysis and Forecast
12.1 Introduction
12.2 Latin America Sailboat 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 Sailboat Insurance Market Size Forecast by Type
12.6.1 Actual Cash Value
12.6.2 Agreed Amount Value
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 Sailboat Insurance Market Size Forecast by Applications
12.10.1 Commercial Use
12.10.2 Personal Use
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) Sailboat Insurance Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Sailboat 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) Sailboat Insurance Market Size Forecast by Type
13.6.1 Actual Cash Value
13.6.2 Agreed Amount Value
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) Sailboat Insurance Market Size Forecast by Applications
13.10.1 Commercial Use
13.10.2 Personal Use
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 Sailboat Insurance Market: Competitive Dashboard
14.2 Global Sailboat Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Zurich
14.3.2 AXA
14.3.3 AVIVA
14.3.4 State Farm
14.3.5 Allianz
14.3.6 Berkshire Hathaway
14.3.7 Sompo Japan Nipponkoa
14.3.8 Berkshire Hathaway
14.3.9 Markel Corporation
14.3.10 Kemper Corporation
14.3.11 Allstate
14.3.12 MetLife
14.3.13 PingAn
14.3.14 Westfield
14.3.15 Westpac
14.3.16 RAA
