Auto Insurance Market Size, Share and Distribution Channel Outlook till 2028

Auto Insurance Market Size, Share and
Distribution Channel Outlook till 2028
“The implementation of stringent government regulations for the adoption of auto insurance, the
increasing number of accidents, and an increase in automobile sales globally are major factors
responsible for the market growth.”
Auto Insurance Market report offers the most up-to-date data on current market scenario, trends and future outlook.
This study provides numerous opportunities for market players to invest for research and development in the market.
It also provides a detailed evaluation of the industry by highlighting information on different aspects which include
drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate
decisions before investing.
Main Features of the Report:
To gain insightful analyses of the market and have comprehensive understanding of the global market and its
commercial landscape.
Assess the production processes, major issues, and solutions to mitigate the development risk.
To understand the most affecting driving and restraining forces in the market and its impact in the global
market.
Learn about the market strategies that are being adopted by leading respective organizations.
To understand the future outlook and prospects for the market.
Besides the standard structure reports, we also provide custom research according to specific requirements.
Impact Of COVID-19 on Amenity Kits Market.
The global auto insurance market size is expected to reach USD 1,620.2 billion by 2028, according to a new report
by Million Insights. It is expected to expand at a CAGR of 8.8% from 2021 to 2028. The growing middle-class
population in developing economies like China, India, and Brazil is propelling the demand for auto insurance.
Various initiatives by the government and reforms regarding insurance policies have led to the significant growth of
the market.
Request for Free Demo of This Report @
https://www.millioninsights.com/snapshots/auto-insurance-market-report/request-demo

The implementation of stringent government regulations for the adoption of auto insurance, the increasing number
of accidents, and an increase in automobile sales globally are major factors responsible for the market growth.
Moreover, increasing implementation of technologies in the existing products, coupled with the rising demand for
third-party liability coverage in emerging nations, is projected to expand the market over the forecast period.
The third-party liability coverage segment held the largest share of over 60.0% in 2020. This insurance is
compulsory for all vehicle owners under the motor vehicle act. It covers legal liability for the damage caused by the
owner to the third party. Rising investment in the insurance sector by various companies is propelling the growth of
third-party liability insurance. It will also register the highest growth rate over the forecast period due to its
increasing demand.
North America accounted for the largest share of over 40.0% in 2020 due to the increasing demand in the U.S. and
Canada. The insurance companies are providing lower premium rates that reward the client’s healthy lifestyle.
Moreover, a rise in the purchase of cars is another major factor driving the regional market. Asia Pacific is expected
to register the fastest CAGR of 9.6% from 2021 to 2028. This is on account of the growing trend of auto insurance in
this region.
Browse Full Research Report @
https://www.millioninsights.com/snapshots/auto-insurance-market-report
Auto Insurance Market Report Highlights
Asia Pacific is expected to register the fastest CAGR of 9.6% from 2021 to 2028 owing to the rising middleclass
population in developing countries, including China and India

Based on coverage, the third-party liability coverage segment held the largest share of more than 60.0% in
2020 due to the rising investment in the insurance sector by various companies
North America held the largest share of over 40.0% in 2020 due to the increasing demand in the U.S. and
Canada
By application, the private passenger segment held the largest share of over 85.0% in 2020 owing to its
increasing demand
Auto Insurance Market Segmentation
Million Insights has segmented the global auto insurance market on the basis of coverage, distribution channel,
application, and region:
Auto Insurance Coverage Outlook (Revenue, USD Billion, 2017 - 2028)
Third-party Liability Coverage
Collision/Comprehensive/Other Optional Coverages
Auto Insurance Distribution Channel Outlook (Revenue, USD Billion, 2017 - 2028)
Insurance Agents/Brokers
Direct Response
Banks
Others
Auto Insurance Application Outlook (Revenue, USD Billion, 2017 - 2028)

Private Passenger
Commercial Passenger
Auto Insurance Regional Outlook (Revenue, USD Billion, 2017 - 2028)
North America
U.S.
Europe
Germany
U.K.
France
Asia Pacific
China
Japan
Central & South America
Brazil
Middle East & Africa
South Africa
List of Key Players of Auto Insurance Market
People’s Insurance Company of China
CHINA PACIFIC INSURANCE CO.
Ping An Insurance (Group) Company of China, Ltd.
State Farm Mutual Automobile Insurance
Berkshire Hathaway Inc.
Admiral Group Plc
GEICO
Tokio Marine Group
Allianz
Allstate Insurance Company
See More Reports of This Category by Million Insights @
https://www.millioninsights.com/snapshots/list/automotive-and-transportation

Get in touch
At Million Insights, we work with the aim to reach the highest levels of customer satisfaction.
Our representatives strive to understand diverse client requirements and cater to the same with
the most innovative and functional solutions.
Contact Person:
Ryan Manuel
Research Support Specialist, USA
Email: ryan@millioninsights.com
Global Headquarters
Million Insights
Felton Office Plaza 6265 Highway 9
Felton, California 95018, United States
Phone: 1-408-610-2300
Email: sales@millioninsights.com
Asia Pacific
Million Insights
Office No. 302, 3rd Floor, Manikchand
Galleria, Model Colony, Shivaji Nagar,
Pune, MH, 411016 India
Phone: 91-20-65300184
Email: sales@millioninsights.com
Visit Our Blog: www.millioninsights.blogspot.com