Global Car Insurance Market Research Report 2023

Car insurance (also known as vehicle insurance, motor insurance or auto insurance) is insurance for cars, trucks, motorcycles, and other road vehicles.

The global Car Insurance market was valued at US$ million in 2022 and is anticipated to reach US$ million by 2029, witnessing a CAGR of % during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

Car insurance's primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle.

This report aims to provide a comprehensive presentation of the global market for Car Insurance, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Car Insurance.

The Car Insurance market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global Car Insurance market comprehensively. Regional market sizes, concerning products by type, by application, and by players, are also provided.

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

The report will help the Car Insurance companies, new entrants, and industry chain related companies in this market with information on the revenues for the overall market and the sub-segments across the different segments, by company, by type, by application, and by regions.

1.1 Study Scope

1.2 Market Analysis by Type

1.2.1 Global Car Insurance Market Size Growth Rate by Type: 2018 VS 2022 VS 2029

1.2.2 Accidental Damages Insurance

1.2.3 Theft Insurance

1.2.4 Fire Insurance

1.2.5 Others

1.3 Market by Application

1.3.1 Global Car Insurance Market Growth by Application: 2018 VS 2022 VS 2029

1.3.2 Commercial Cars

1.3.3 Private Cars

1.3.4 Others

1.4 Study Objectives

1.5 Years Considered

1.6 Years Considered

2.1 Global Car Insurance Market Perspective (2018-2029)

2.2 Car Insurance Growth Trends by Region

2.2.1 Global Car Insurance Market Size by Region: 2018 VS 2022 VS 2029

2.2.2 Car Insurance Historic Market Size by Region (2018-2023)

2.2.3 Car Insurance Forecasted Market Size by Region (2024-2029)

2.3 Car Insurance Market Dynamics

2.3.1 Car Insurance Industry Trends

2.3.2 Car Insurance Market Drivers

2.3.3 Car Insurance Market Challenges

2.3.4 Car Insurance Market Restraints

3.1 Global Top Car Insurance Players by Revenue

3.1.1 Global Top Car Insurance Players by Revenue (2018-2023)

3.1.2 Global Car Insurance Revenue Market Share by Players (2018-2023)

3.2 Global Car Insurance Market Share by Company Type (Tier 1, Tier 2, and Tier 3)

3.3 Players Covered: Ranking by Car Insurance Revenue

3.4 Global Car Insurance Market Concentration Ratio

3.4.1 Global Car Insurance Market Concentration Ratio (CR5 and HHI)

3.4.2 Global Top 10 and Top 5 Companies by Car Insurance Revenue in 2022

3.5 Car Insurance Key Players Head office and Area Served

3.6 Key Players Car Insurance Product Solution and Service

3.7 Date of Enter into Car Insurance Market

3.8 Mergers & Acquisitions, Expansion Plans

4.1 Global Car Insurance Historic Market Size by Type (2018-2023)

4.2 Global Car Insurance Forecasted Market Size by Type (2024-2029)

5.1 Global Car Insurance Historic Market Size by Application (2018-2023)

5.2 Global Car Insurance Forecasted Market Size by Application (2024-2029)

6.1 North America Car Insurance Market Size (2018-2029)

6.2 North America Car Insurance Market Growth Rate by Country: 2018 VS 2022 VS 2029

6.3 North America Car Insurance Market Size by Country (2018-2023)

6.4 North America Car Insurance Market Size by Country (2024-2029)

6.5 United States

6.6 Canada

7.1 Europe Car Insurance Market Size (2018-2029)

7.2 Europe Car Insurance Market Growth Rate by Country: 2018 VS 2022 VS 2029

7.3 Europe Car Insurance Market Size by Country (2018-2023)

7.4 Europe Car Insurance Market Size by Country (2024-2029)

7.5 Germany

7.6 France

7.7 U.K.

7.8 Italy

7.9 Russia

7.10 Nordic Countries

8.1 Asia-Pacific Car Insurance Market Size (2018-2029)

8.2 Asia-Pacific Car Insurance Market Growth Rate by Region: 2018 VS 2022 VS 2029

8.3 Asia-Pacific Car Insurance Market Size by Region (2018-2023)

8.4 Asia-Pacific Car Insurance Market Size by Region (2024-2029)

8.5 China

8.6 Japan

8.7 South Korea

8.8 Southeast Asia

8.9 India

8.10 Australia

9.1 Latin America Car Insurance Market Size (2018-2029)

9.2 Latin America Car Insurance Market Growth Rate by Country: 2018 VS 2022 VS 2029

9.3 Latin America Car Insurance Market Size by Country (2018-2023)

9.4 Latin America Car Insurance Market Size by Country (2024-2029)

9.5 Mexico

9.6 Brazil

10.1 Middle East & Africa Car Insurance Market Size (2018-2029)

10.2 Middle East & Africa Car Insurance Market Growth Rate by Country: 2018 VS 2022 VS 2029

10.3 Middle East & Africa Car Insurance Market Size by Country (2018-2023)

10.4 Middle East & Africa Car Insurance Market Size by Country (2024-2029)

10.5 Turkey

10.6 Saudi Arabia

10.7 UAE

11.1 AXA

11.1.1 AXA Company Detail

11.1.2 AXA Business Overview

11.1.3 AXA Car Insurance Introduction

11.1.4 AXA Revenue in Car Insurance Business (2018-2023)

11.1.5 AXA Recent Development

11.2 Allstate Insurance

11.2.1 Allstate Insurance Company Detail

11.2.2 Allstate Insurance Business Overview

11.2.3 Allstate Insurance Car Insurance Introduction

11.2.4 Allstate Insurance Revenue in Car Insurance Business (2018-2023)

11.2.5 Allstate Insurance Recent Development

11.3 Berkshire Hathaway

11.3.1 Berkshire Hathaway Company Detail

11.3.2 Berkshire Hathaway Business Overview

11.3.3 Berkshire Hathaway Car Insurance Introduction

11.3.4 Berkshire Hathaway Revenue in Car Insurance Business (2018-2023)

11.3.5 Berkshire Hathaway Recent Development

11.4 Allianz

11.4.1 Allianz Company Detail

11.4.2 Allianz Business Overview

11.4.3 Allianz Car Insurance Introduction

11.4.4 Allianz Revenue in Car Insurance Business (2018-2023)

11.4.5 Allianz Recent Development

11.5 AIG

11.5.1 AIG Company Detail

11.5.2 AIG Business Overview

11.5.3 AIG Car Insurance Introduction

11.5.4 AIG Revenue in Car Insurance Business (2018-2023)

11.5.5 AIG Recent Development

11.6 Generali

11.6.1 Generali Company Detail

11.6.2 Generali Business Overview

11.6.3 Generali Car Insurance Introduction

11.6.4 Generali Revenue in Car Insurance Business (2018-2023)

11.6.5 Generali Recent Development

11.7 State Farm Insurance

11.7.1 State Farm Insurance Company Detail

11.7.2 State Farm Insurance Business Overview

11.7.3 State Farm Insurance Car Insurance Introduction

11.7.4 State Farm Insurance Revenue in Car Insurance Business (2018-2023)

11.7.5 State Farm Insurance Recent Development

11.8 Munich Reinsurance

11.8.1 Munich Reinsurance Company Detail

11.8.2 Munich Reinsurance Business Overview

11.8.3 Munich Reinsurance Car Insurance Introduction

11.8.4 Munich Reinsurance Revenue in Car Insurance Business (2018-2023)

11.8.5 Munich Reinsurance Recent Development

11.9 Metlife

11.9.1 Metlife Company Detail

11.9.2 Metlife Business Overview

11.9.3 Metlife Car Insurance Introduction

11.9.4 Metlife Revenue in Car Insurance Business (2018-2023)

11.9.5 Metlife Recent Development

11.10 Nippon Life Insurance

11.10.1 Nippon Life Insurance Company Detail

11.10.2 Nippon Life Insurance Business Overview

11.10.3 Nippon Life Insurance Car Insurance Introduction

11.10.4 Nippon Life Insurance Revenue in Car Insurance Business (2018-2023)

11.10.5 Nippon Life Insurance Recent Development

11.11 Ping An

11.11.1 Ping An Company Detail

11.11.2 Ping An Business Overview

11.11.3 Ping An Car Insurance Introduction

11.11.4 Ping An Revenue in Car Insurance Business (2018-2023)

11.11.5 Ping An Recent Development

11.12 PICC

11.12.1 PICC Company Detail

11.12.2 PICC Business Overview

11.12.3 PICC Car Insurance Introduction

11.12.4 PICC Revenue in Car Insurance Business (2018-2023)

11.12.5 PICC Recent Development

11.13 China Life Insurance

11.13.1 China Life Insurance Company Detail

11.13.2 China Life Insurance Business Overview

11.13.3 China Life Insurance Car Insurance Introduction

11.13.4 China Life Insurance Revenue in Car Insurance Business (2018-2023)

11.13.5 China Life Insurance Recent Development

13.1 Research Methodology

13.1.1 Methodology/Research Approach

13.1.2 Data Source

13.2 Disclaimer

13.3 Author Details

List of Tables

    Table 1. Global Car Insurance Market Size Growth Rate by Type (US$ Million): 2018 VS 2022 VS 2029

    Table 2. Key Players of Accidental Damages Insurance

    Table 3. Key Players of Theft Insurance

    Table 4. Key Players of Fire Insurance

    Table 5. Key Players of Others

    Table 6. Global Car Insurance Market Size Growth by Application (US$ Million): 2018 VS 2022 VS 2029

    Table 7. Global Car Insurance Market Size by Region (US$ Million): 2018 VS 2022 VS 2029

    Table 8. Global Car Insurance Market Size by Region (2018-2023) & (US$ Million)

    Table 9. Global Car Insurance Market Share by Region (2018-2023)

    Table 10. Global Car Insurance Forecasted Market Size by Region (2024-2029) & (US$ Million)

    Table 11. Global Car Insurance Market Share by Region (2024-2029)

    Table 12. Car Insurance Market Trends

    Table 13. Car Insurance Market Drivers

    Table 14. Car Insurance Market Challenges

    Table 15. Car Insurance Market Restraints

    Table 16. Global Car Insurance Revenue by Players (2018-2023) & (US$ Million)

    Table 17. Global Car Insurance Market Share by Players (2018-2023)

    Table 18. Global Top Car Insurance Players by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Car Insurance as of 2022)

    Table 19. Ranking of Global Top Car Insurance Companies by Revenue (US$ Million) in 2022

    Table 20. Global 5 Largest Players Market Share by Car Insurance Revenue (CR5 and HHI) & (2018-2023)

    Table 21. Key Players Headquarters and Area Served

    Table 22. Key Players Car Insurance Product Solution and Service

    Table 23. Date of Enter into Car Insurance Market

    Table 24. Mergers & Acquisitions, Expansion Plans

    Table 25. Global Car Insurance Market Size by Type (2018-2023) & (US$ Million)

    Table 26. Global Car Insurance Revenue Market Share by Type (2018-2023)

    Table 27. Global Car Insurance Forecasted Market Size by Type (2024-2029) & (US$ Million)

    Table 28. Global Car Insurance Revenue Market Share by Type (2024-2029)

    Table 29. Global Car Insurance Market Size by Application (2018-2023) & (US$ Million)

    Table 30. Global Car Insurance Revenue Market Share by Application (2018-2023)

    Table 31. Global Car Insurance Forecasted Market Size by Application (2024-2029) & (US$ Million)

    Table 32. Global Car Insurance Revenue Market Share by Application (2024-2029)

    Table 33. North America Car Insurance Market Size Growth Rate by Country (US$ Million): 2018 VS 2022 VS 2029

    Table 34. North America Car Insurance Market Size by Country (2018-2023) & (US$ Million)

    Table 35. North America Car Insurance Market Size by Country (2024-2029) & (US$ Million)

    Table 36. Europe Car Insurance Market Size Growth Rate by Country (US$ Million): 2018 VS 2022 VS 2029

    Table 37. Europe Car Insurance Market Size by Country (2018-2023) & (US$ Million)

    Table 38. Europe Car Insurance Market Size by Country (2024-2029) & (US$ Million)

    Table 39. Asia-Pacific Car Insurance Market Size Growth Rate by Region (US$ Million): 2018 VS 2022 VS 2029

    Table 40. Asia-Pacific Car Insurance Market Size by Region (2018-2023) & (US$ Million)

    Table 41. Asia-Pacific Car Insurance Market Size by Region (2024-2029) & (US$ Million)

    Table 42. Latin America Car Insurance Market Size Growth Rate by Country (US$ Million): 2018 VS 2022 VS 2029

    Table 43. Latin America Car Insurance Market Size by Country (2018-2023) & (US$ Million)

    Table 44. Latin America Car Insurance Market Size by Country (2024-2029) & (US$ Million)

    Table 45. Middle East & Africa Car Insurance Market Size Growth Rate by Country (US$ Million): 2018 VS 2022 VS 2029

    Table 46. Middle East & Africa Car Insurance Market Size by Country (2018-2023) & (US$ Million)

    Table 47. Middle East & Africa Car Insurance Market Size by Country (2024-2029) & (US$ Million)

    Table 48. AXA Company Detail

    Table 49. AXA Business Overview

    Table 50. AXA Car Insurance Product

    Table 51. AXA Revenue in Car Insurance Business (2018-2023) & (US$ Million)

    Table 52. AXA Recent Development

    Table 53. Allstate Insurance Company Detail

    Table 54. Allstate Insurance Business Overview

    Table 55. Allstate Insurance Car Insurance Product

    Table 56. Allstate Insurance Revenue in Car Insurance Business (2018-2023) & (US$ Million)

    Table 57. Allstate Insurance Recent Development

    Table 58. Berkshire Hathaway Company Detail

    Table 59. Berkshire Hathaway Business Overview

    Table 60. Berkshire Hathaway Car Insurance Product

    Table 61. Berkshire Hathaway Revenue in Car Insurance Business (2018-2023) & (US$ Million)

    Table 62. Berkshire Hathaway Recent Development

    Table 63. Allianz Company Detail

    Table 64. Allianz Business Overview

    Table 65. Allianz Car Insurance Product

    Table 66. Allianz Revenue in Car Insurance Business (2018-2023) & (US$ Million)

    Table 67. Allianz Recent Development

    Table 68. AIG Company Detail

    Table 69. AIG Business Overview

    Table 70. AIG Car Insurance Product

    Table 71. AIG Revenue in Car Insurance Business (2018-2023) & (US$ Million)

    Table 72. AIG Recent Development

    Table 73. Generali Company Detail

    Table 74. Generali Business Overview

    Table 75. Generali Car Insurance Product

    Table 76. Generali Revenue in Car Insurance Business (2018-2023) & (US$ Million)

    Table 77. Generali Recent Development

    Table 78. State Farm Insurance Company Detail

    Table 79. State Farm Insurance Business Overview

    Table 80. State Farm Insurance Car Insurance Product

    Table 81. State Farm Insurance Revenue in Car Insurance Business (2018-2023) & (US$ Million)

    Table 82. State Farm Insurance Recent Development

    Table 83. Munich Reinsurance Company Detail

    Table 84. Munich Reinsurance Business Overview

    Table 85. Munich Reinsurance Car Insurance Product

    Table 86. Munich Reinsurance Revenue in Car Insurance Business (2018-2023) & (US$ Million)

    Table 87. Munich Reinsurance Recent Development

    Table 88. Metlife Company Detail

    Table 89. Metlife Business Overview

    Table 90. Metlife Car Insurance Product

    Table 91. Metlife Revenue in Car Insurance Business (2018-2023) & (US$ Million)

    Table 92. Metlife Recent Development

    Table 93. Nippon Life Insurance Company Detail

    Table 94. Nippon Life Insurance Business Overview

    Table 95. Nippon Life Insurance Car Insurance Product

    Table 96. Nippon Life Insurance Revenue in Car Insurance Business (2018-2023) & (US$ Million)

    Table 97. Nippon Life Insurance Recent Development

    Table 98. Ping An Company Detail

    Table 99. Ping An Business Overview

    Table 100. Ping An Car Insurance Product

    Table 101. Ping An Revenue in Car Insurance Business (2018-2023) & (US$ Million)

    Table 102. Ping An Recent Development

    Table 103. PICC Company Detail

    Table 104. PICC Business Overview

    Table 105. PICC Car Insurance Product

    Table 106. PICC Revenue in Car Insurance Business (2018-2023) & (US$ Million)

    Table 107. PICC Recent Development

    Table 108. China Life Insurance Company Detail

    Table 109. China Life Insurance Business Overview

    Table 110. China Life Insurance Car Insurance Product

    Table 111. China Life Insurance Revenue in Car Insurance Business (2018-2023) & (US$ Million)

    Table 112. China Life Insurance Recent Development

    Table 113. Research Programs/Design for This Report

    Table 114. Key Data Information from Secondary Sources

    Table 115. Key Data Information from Primary Sources

List of Figures

    Figure 1. Global Car Insurance Market Size Comparison by Type (2023-2029) & (US$ Million)

    Figure 2. Global Car Insurance Market Share by Type: 2022 VS 2029

    Figure 3. Accidental Damages Insurance Features

    Figure 4. Theft Insurance Features

    Figure 5. Fire Insurance Features

    Figure 6. Others Features

    Figure 7. Global Car Insurance Market Size Comparison by Application (2023-2029) & (US$ Million)

    Figure 8. Global Car Insurance Market Share by Application: 2022 VS 2029

    Figure 9. Commercial Cars Case Studies

    Figure 10. Private Cars Case Studies

    Figure 11. Others Case Studies

    Figure 12. Car Insurance Report Years Considered

    Figure 13. Global Car Insurance Market Size (US$ Million), Year-over-Year: 2018-2029

    Figure 14. Global Car Insurance Market Size, (US$ Million), 2018 VS 2022 VS 2029

    Figure 15. Global Car Insurance Market Share by Region: 2022 VS 2029

    Figure 16. Global Car Insurance Market Share by Players in 2022

    Figure 17. Global Top Car Insurance Players by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Car Insurance as of 2022)

    Figure 18. The Top 10 and 5 Players Market Share by Car Insurance Revenue in 2022

    Figure 19. North America Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 20. North America Car Insurance Market Share by Country (2018-2029)

    Figure 21. United States Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 22. Canada Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 23. Europe Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 24. Europe Car Insurance Market Share by Country (2018-2029)

    Figure 25. Germany Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 26. France Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 27. U.K. Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 28. Italy Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 29. Russia Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 30. Nordic Countries Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 31. Asia-Pacific Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 32. Asia-Pacific Car Insurance Market Share by Region (2018-2029)

    Figure 33. China Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 34. Japan Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 35. South Korea Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 36. Southeast Asia Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 37. India Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 38. Australia Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 39. Latin America Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 40. Latin America Car Insurance Market Share by Country (2018-2029)

    Figure 41. Mexico Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 42. Brazil Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 43. Middle East & Africa Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 44. Middle East & Africa Car Insurance Market Share by Country (2018-2029)

    Figure 45. Turkey Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 46. Saudi Arabia Car Insurance Market Size YoY Growth (2018-2029) & (US$ Million)

    Figure 47. AXA Revenue Growth Rate in Car Insurance Business (2018-2023)

    Figure 48. Allstate Insurance Revenue Growth Rate in Car Insurance Business (2018-2023)

    Figure 49. Berkshire Hathaway Revenue Growth Rate in Car Insurance Business (2018-2023)

    Figure 50. Allianz Revenue Growth Rate in Car Insurance Business (2018-2023)

    Figure 51. AIG Revenue Growth Rate in Car Insurance Business (2018-2023)

    Figure 52. Generali Revenue Growth Rate in Car Insurance Business (2018-2023)

    Figure 53. State Farm Insurance Revenue Growth Rate in Car Insurance Business (2018-2023)

    Figure 54. Munich Reinsurance Revenue Growth Rate in Car Insurance Business (2018-2023)

    Figure 55. Metlife Revenue Growth Rate in Car Insurance Business (2018-2023)

    Figure 56. Nippon Life Insurance Revenue Growth Rate in Car Insurance Business (2018-2023)

    Figure 57. Ping An Revenue Growth Rate in Car Insurance Business (2018-2023)

    Figure 58. PICC Revenue Growth Rate in Car Insurance Business (2018-2023)

    Figure 59. China Life Insurance Revenue Growth Rate in Car Insurance Business (2018-2023)

    Figure 60. Bottom-up and Top-down Approaches for This Report

    Figure 61. Data Triangulation

    Figure 62. Key Executives Interviewed