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Automobile Insurance in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Automobile Insurance Market Research Report | Advisory & Financial Services | Specialist Insurance Lines | Feb 2015

Road to recovery: Providers will benefit from more car purchases and higher interest rates

IBISWorld’s Automobile Insurance market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
Allstate Insurance Company Allstate Insurance Company market share
Berkshire Hathaway Inc. Berkshire Hathaway Inc. market share
Progressive Progressive market share
State Farm State Farm market share
Zurich Financial Services Group Zurich Financial Services Group market share
Industry Statistics & Market Size
Revenue
$220bn
Annual Growth 10-15
1.9%
Annual Growth 15-20
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Profit
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Employment
277,383
Businesses
1,958
Industry Analysis & Industry Trends

Over the five years to 2020, revenue for the Automobile Insurance industry is forecast to increase as continued improvements in the macroeconomic landscape benefit investment conditions for auto insurers. Given that the majority of auto insurer assets are invested in bonds, forecast increases in interest rates will likely boost investment gains. Despite this trend, consolidation in the industry is expected to continue, with larger operators viewing strategic acquisitions as a lucrative method to expand their share of the market.... purchase to read more

Industry Report - Industry Products Chapter

Personal and commercial liability insurance

Liability insurance products offered to downstream consumers and corporate customers account for the largest portion of industry revenue. Bodily injury liability insurance covers the medical and legal expenses associated with an accident that causes the injury or death of another individual. Alternatively, property damage liability insurance covers the damages caused by an individual's car to the property of others. Liability insurance is typically required of a driver; moreover, some states, including California, have mandated minimum liability coverage amounts. Both personal and commercial liability insurance have increased as a share of revenue over the five-year period... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Automobile Insurance Industry?

This industry underwrites, or assumes the risk and assigns premiums for, auto insurance policies. Car insurance provides financial protection against physical damage to automobiles and bodily injuries resulting from traffic collisions. Automobile insurance can also protect against resulting liability.

Industry Products
Personal liability insurancePersonal collision/comprehensive insuranceCommercial liability insuranceCommercial collision/comprehensive insurance
 
Industry Activities
Directly underwriting private passenger liability insuranceDirectly underwriting private passenger collision/comprehensive insuranceDirectly underwriting commercial liability insuranceDirectly underwriting commercial collision/comprehensive insurance


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