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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 provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

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
Revenue
$7bn
Annual Growth 10-15
3.2%
Annual Growth 15-20
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Profit
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Employment
12,760
Businesses
94
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 - Industry SWOT Analysis Chapter

The Boat Insurance industry is in the mature stage of its economic life cycle; this stage is characterized by relatively few changes in product lines and increased merger and acquisition activity. Industry value added (IVA), which measures an industry's contribution to the overall economy, is expected to increase at an annualized rate of 1.9% during the 10 years to 2020. In contrast, US GDP is projected to grow at an annualized rate of 2.5% during the same period. Typically, an industry is considered to be in the mature phase of its life cycle when growth in IVA trends with GDP growth over a 10-year period.

The industry offers a range of boat coverage options, including liability, collision and comprehensive insurance products... 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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