Global Motor Vehicle Insurance Market Overview:
The global Motor Vehicle Insurance market is valued at xx million USD in 2017 and is expected to reach xx million USD by the end of 2023, growing at a CAGR of xx% between 2017 and 2023.
Vehicle insurance also known as car insurance, motor insurance or auto insurance is insurance for cars, trucks, motorcycles, and other road vehicles. Its 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.
Vehicle insurance may additionally offer financial protection against theft of the vehicle, and against damage to the vehicle sustained from events other than traffic collisions, such as keying, weather or natural disasters, and damage sustained by colliding with stationary objects. The specific terms of vehicle insurance vary with legal regulations in each region.
This report studies the Motor Vehicle Insurance market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Motor Vehicle Insurance market by product type and applications/end industries.
The increase in automobile sales globally is the primary growth driver for this market. An increase in per capita income in emerging economies has led to an increase in the sales of automobiles. This is driving the global motor vehicle insurance market because governments across the world are making it mandatory to buy insurance policy while purchasing a new vehicle.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions. North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Motor Vehicle Insurance.
Europe also play important roles in global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.
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Market Segment by Companies, this report covers:
Allianz
Allstate Insurance
American International Group
Berkshire Hathaway Home state
People’s Insurance Company of China
Ping an Insurance
MARKET SEGMENT BY REGIONS, REGIONAL ANALYSIS COVERS:
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
Middle East and Africa Saudi Arabia, UAE, Egypt, Nigeria and South Africa
MARKET SEGMENT BY TYPE, COVERS:
Third party only
Third party fire & theft insurance
Comprehensive insurance
MARKET SEGMENT BY APPLICATIONS, CAN BE DIVIDED INTO:
Commercial
Personal
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