Global Vehicle Insurance Market Size | Industry Growth Forecast 2025

1
Global Vehicle Insurance Market

• Drivers, Restraints, Potential Growth
  Opportunities, Product Size, Application
  Estimation, Vendor Competitive Landscape, Trends
  and Forecast 2018-2025

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2
Vehicle Insurance Market Size, Status and
Forecast 2018-2025

• The Vehicle Insurance market was valued at USD XX
  million and it is expected to USD XX million by
  the end of forecast period. Experts predict
  growth with a CAGR of XX in the industry during
  the forecast period. Vehicle insurance is the
  insurance policy for vehicles that covers any
  financial risk caused due to accidents during
  driving the vehicle. The main objective is to
  provide financial protection against damages
  caused due to road mishaps, medical payments and
  injury protection for insured and uninsured
  drivers. An insurance company covers the losses
  in case of any damages or thefts.
• Vehicle insurance market value is growing and
  there are various factors effecting the same. The
  growing per capita income and the compulsion to
  buy vehicle insurance being the main factors. Key
  market players provide several add-ons with the
  insurance packages to make it more lucrative for
  the buyers. Another factor is the high costs
  involved in vehicle repairing due to number of
  increased road accidents across the globe. The
  demand for vehicles has increased considerably
  due to growing earning capabilities and ease of
  repayment of loans.

3
Vehicle Insurance Market Size, Status and
Forecast 2018-2025

• However, the ease of getting vehicles on rent,
  market fragmentation and availability of
  autonomous vehicles are impacting the overall
  growth of vehicle insurance market value.
• Vehicle insurance market size is segmented on the
  basis of type of insurance, distribution channel,
  and geography. On the basis of insurance type,
  vehicle insurance market is divided into
  commercial insurance premium and personal
  insurance premium. With respect to distribution
  channel, the market is divided into insurance
  agency/insurance broker and online insurance
  providers. Geographically, the vehicle insurance
  market is divided into North America, Europe,
  Asia Pacific, Latin America and Middle East
  Africa. Vehicle insurance market in India is one
  of the leading contributors in the global market
  and is estimated to grow at a CAGR rate of XX .
  The vehicles act of 1988, which made it
  compulsory for buyers to buy insurance is the
  main reason for the growth.
• The top contributors in the vehicle insurance
  market size include AXA, Allianz SE,
  AssicurazioniGenerali S.p.A., The Allstate
  Corporation, Berkshire Hathaway Homestate
  Companies, China Life Insurance Group, American
  International Group, Inc., Prudential plc., and
  Zurich Insurance Group Ltd and many more. The
  Vehicle insurance market in India is dominated by
  Bajaj Allianz General Company Insurance, followed
  by Bharti Axa Motor Insurance, Future Generali
  India insurance and many more.
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  rts/ultrasound-market

4
Vehicle Insurance Market Size, Status and
Forecast 2018-2025

• Companies in the business of vehicle insurance
  are aware and in tune with the growing
  competitive market. Hence they are continuously
  changing their systems and process to give the
  best offers to users. New technologies and
  processes are always being created to recognize
  false claims.
• Vehicle Insurance is very useful in the events of
  fatal accidents or any other type of damage done
  to your vehicle. Furthermore, vehicle insurance
  policies also cover the losses in case of any
  damage caused to any other vehicle by you.
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