Automotive Insurance Market to reach huge growth in coming years by 2031 - Key Companies: AXA SA, GEICO, Liberty Mutual Insurance, Bajaj Allianz, Allstate Insurance, Verisk Analytics

Automotive insurance provides financial protection to customers against physical damage, resulting from traffic collision and theft of vehicles. In addition, it covers the cost associated with injuries, death, or property damage caused by insured owner of the vehicle to another driver, vehicle, or property such as fence, building, or utility pole. Although auto insurance requirements vary from state to state, bodily injury liability and property damage liability coverage has been mandated to in many jurisdictions before using or keeping a vehicle on public roads. The auto insurance market exhibits high growth potential, as the number of road accidents is increasing in most of the countries across the globe.

The global Automotive Insurance market in terms of revenue was estimated to be worth USD 652.6 Billion in 2022 and is poised to grow at a CAGR of 4.60 % from 2023 to 2030.

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Top Key Players Profiled in This Report:
AXA SA Group, GEICO, Liberty Mutual Insurance, Bajaj Allianz, Allstate Insurance Company, The Progressive Corporation, Insurance & Mobility Solutions (IMS), American International Group Inc., insurethebox, Verisk Analytics Inc. and other prominent players.

The global Automotive Insurance market is a dynamic and essential component of the broader insurance industry. It encompasses a wide range of policies designed to provide financial protection and coverage for vehicle owners against various risks, including accidents, theft, and damage. As a critical sector, the market operates in tandem with the automotive industry, covering a vast array of vehicles, from passenger cars to commercial fleets.

Key drivers for the market include the mandatory insurance requirements in many countries, the rising global vehicle ownership rates, and the continuous advancements in technology. These advances have led to the adoption of innovative insurance solutions like usage-based insurance (UBI), which leverages telematics and data analytics.

Various factors are responsible for the market's growth trajectory, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global Automotive Insurance market. It also gauges the bargaining power of suppliers and buyers, threat from new entrants and product substitute, and the degree of competition prevailing in the market. The influence of the latest government guidelines is also analyzed in detail in the report. It studies the Automotive Insurance market's trajectory between forecast periods.

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Automotive Insurance Market Segmentation by Coverage:
• Third-Party Liability Coverage
• Comprehensive Motor Insurance
• Others

Automotive Insurance Market Segmentation by Vehicle Age:
• New Vehicle
• Used Vehicle

Automotive Insurance Market by Regions:
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia etc.)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Reasons for buying this report:-

• It offers an analysis of changing competitive scenario.
• For making informed decisions in the businesses, it offers analytical data with strategic planning methodologies.
• It offers seven-year assessment of Automotive Insurance Market.
• It helps in understanding the major key product segments.
• Researchers throw light on the dynamics of the market such as drivers, restraints, trends, and opportunities.
• It offers regional analysis of Automotive Insurance Market along with business profiles of several stakeholders.
• It offers massive data about trending factors that will influence the progress of the Automotive Insurance Market.

Table of Contents
Global Automotive Insurance Market Research Report - Forecast to 2031
Chapter 1 Automotive Insurance Market Overview
Chapter 2 Global Economic Impact on Industry
Chapter 3 Global Market Competition by Manufacturers
Chapter 4 Global Production, Revenue (Value) by Region
Chapter 5 Global Supply (Production), Consumption, Export, Import by Regions
Chapter 6 Global Production, Revenue (Value), Price Trend by Type
Chapter 7 Global Market Analysis by Application
Chapter 8 Manufacturing Cost Analysis
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
Chapter 11 Market Effect Factors Analysis
Chapter 12 Global Automotive Insurance Market Forecast

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