Allied Market Research published a report, titled, \"Home Insurance Market Share by Coverage (Comprehensive Coverage, Dwelling Coverage, Content Coverage, and Other Optional Coverages), and End User (Landlords and Tenants): Global Opportunity Analysis and Industry Forecast, 2024-2033.\" According to the report, the \"home insurance market\" was valued at $271.9 billion in 2023, and is estimated to reach $576 billion by 2033, growing at a CAGR of 7.6% from 2024 to 2033. Rise in property values drives higher premiums and demand for comprehensive coverage, and increased frequency of natural disasters, prompting homeowners to seek more robust protection against climate-related risks. In addition, regulatory requirements that mandate home insurance for mortgage borrowers ensure steady demand, particularly in developed economies. The growing adoption of smart home technologies also plays a key role, as insurers offer incentives for homeowners who implement risk-reducing devices, driving demand for tech-integrated policies. These factors collectively drive the market growth.\n\nThe comprehensive segment accounted for the largest share in 2023, contributing for less than two-fifths of the market revenue. This type of coverage is expected to propel the growth of the home insurance market during the forecast period, due to its extensive protection against various risks, such as fire, theft, and natural disasters. Comprehensive coverage provides homeowners with broad protection for their property as well as for personal belongings and liability, making it the most sought-after policy type among consumers.\n\nThe landlords segment accounted for the largest share in 2023, contributing for more than three-fourths of the market revenue, owing to the rise in demand for rental properties, which has led landlords to seek insurance coverage to protect their investments from property damage, loss of rental income, and liability claims. However, the tenant’s segment is expected to attain the largest CAGR of 10.1% from 2024 to 2033. Furthermore, due to the rise in number of rental properties and rise in demand for rental housing, especially in urban areas, landlords are looking for insurance policies that provide protection against property damage, liability claims, and lost rental income.\n\nBy region, North America held the highest market share in terms of revenue in 2023, accounting for more than two-fifths of the home insurance market revenue driven by several factors including rise in property values, increase in awareness of natural disasters, and stringent regulatory frameworks. The U.S. witnessed significant growth in demand for home insurance due to rise in home values and growing emphasis on protecting assets from climate-related risks, such as wildfires and hurricanes. The region’s well-established mortgage market also contributed to the dominance, as regulatory requirements often mandate home insurance for borrowers.\n\nThe report provides a detailed analysis of key players in the home insurance market, including Allianz, Zurich, Admiral, Allstate Insurance Company, Liberty Mutual Insurance Company, Chubb, Axa, PICC, State Farm Mutual Automobile Insurance Company, and American International Group, Inc. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different countries. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.\n\nKey benefits for stakeholders include a quantitative analysis of market segments, current trends, estimations, and dynamics of the home insurance market forecast from 2024 to 2033 to identify prevailing market opportunities. Market research is offered along with information related to key drivers, restraints, and opportunities of the home insurance market outlook. Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network. In-depth analysis of the home insurance industry segmentation assists in determining the prevailing home insurance market opportunity. Major countries in each region are mapped according to their revenue contribution to the global market. Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players. The report includes an analysis of regional as well as home insurance market trends, key players, market segments, application areas, and market growth strategies.\n\nHome Insurance Market Key Segments:\nBy Coverage: Comprehensive Coverage, Dwelling Coverage, Content Coverage, Other Optional Coverages\nBy End User: Landlords, Tenants\nBy Region: North America (U.S., Canada), Europe (UK, Germany, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific), LAMEA (Latin America, Middle East, Africa)

Home Insurance Market: Global Opportunity Analysis and Industry Forecast, 2023–2033

A report by Allied Market Research analyzes the global home insurance market, estimating it at $271.9 billion in 2023 and projecting growth to $576 billion by 2033 at a CAGR of 7.6%. Key drivers include rising property values, increased frequency of natural disasters, regulatory mandates for mortgage borrowers, and the adoption of smart home technologies. Comprehensive coverage and the landlords segment dominate the market, with the tenant segment expected to grow at the highest CAGR of 10.1% from 2024 to 2033. North America holds the largest market share, driven by high property values, climate risks, and regulatory requirements. The report covers market segments by coverage type, end user, and region, and profiles major players such as Allianz, Zurich, Admiral, Allstate, Liberty Mutual, Chubb, Axa, PICC, State Farm, and American International Group, highlighting their strategies including product launches, expansions, and partnerships.