Boat Insurance in the US: Market Research Report

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

Boat Insurance Market Research Report | Advisory & Financial Services | Specialist Insurance Lines | Jul 2015

Smooth sailing: Increases in premium prices and boat ownership will bolster revenue

IBISWorld’s Boat Insurance market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
Liberty Mutual Group Inc. Liberty Mutual Group Inc. market share
Progressive Progressive market share
State Farm State Farm market share
Industry Statistics & Market Size
Annual Growth 10-15
Annual Growth 15-20
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Industry Analysis & Industry Trends

Gains in both policy volumes and premium prices have spurred revenue growth for the Boat Insurance industry over the five years to 2015. The market for boat insurers has been impacted by distinct demographic changes over the period, as aging baby boomers have become increasingly interested in boats as they retire. Continued increases in boat ownership and premium prices over the next five years are expected to sustain the industry's growth. Additionally, anticipated economic improvements over the five years to 2020 will bolster the industry's investment income.... purchase to read more

Industry Report - Starting a New Business Chapter

The Boat Insurance industry has medium barriers to entry. A new entrant must conform to stringent state and federal regulations to establish property and casualty (P&C) and title insurance operations. The P&C and title insurance markets are also highly competitive. Both markets are highly saturated with a large number of well-established brands, while the title insurance market is heavily concentrated, with the top four firms accounting for about 92.4% of title insurance revenue. The Boat Insurance industry is also highly complex, as some of the nation’s largest state markets are also the riskiest with regards to losses (e.g. Florida and California).

A new entrant must apply for a Certificate of Authority to supply insurance products if they are to begin operating as an insurer... purchase to read more


Industry ProductsRelated ReportsTable of Contents

What is the Boat Insurance Industry?

This industry underwrites boat insurance policies for privately-owned watercraft. A boat owner’s insurance policy can insure against risks of owning and operating a boat, its motor and its trailer. These risks include sinking, fire, theft, and collision. Insurers for commercial boating operators are not included in this industry.

Industry Products
Liability coverageComprehensive and collision coverageUninsured operator and other
Industry Activities
Boat insurance underwritingMarketing boat insurance productsPortfolio diversification

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