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Renters' Insurance in the US Industry Data and Analysis
Renters’ insurance companies have been navigating a complex landscape influenced by various economic variables. The pandemic initially impacted demand as constrained consumer spending slowed apartment rentals, a primary driver for renters' insurance. However, the Federal Reserve's liquidity infusions led to increased equity prices, boosted investment income for insurance providers and drove revenue and profit in 2020. Revenue soared during the early pandemic years due to enhanced investment income, but as inflation bit into disposable incomes, smaller companies struggled, leading to an industry-wide contraction in 2022. Many smaller companies exited the market, unable to withstand economic pressures and fluctuating demand. However, larger providers capitalized on the situation, expanding their market presence and operations, while benefiting from the economic recovery post-pandemic, especially amid lower homeownership rates in 2023 and 2024, which ultimately boosted revenue and profit. Long-term, renters' insurance companies have benefited from a rise in the urban population, which has hiked the amount of renters in the US due to people occupying smaller spaces. Overall, revenue for renters’ insurance companies has swelled at a CAGR of 3.4% over the past five years, reaching $5.9 billion in 2025. This includes a 1.2% inch upward in revenue in that year.
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What's included in this industry analysis
IBISWorld's research coverage on the Renters' Insurance industry in the United States includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released March 2025.
About this industry
What's this industry report about?
The Renters' Insurance industry in the United States operates under the NAICS industry code OD4767. This industry underwrites insurance policies (i.e. assumes risk and assigns premiums) for renters. Renters’ insurance protects against loss or damage to property due to theft, fire and other causes. Related terms covered in the Renters' Insurance industry in the United States include policy, broker and claim.
What's included in this industry?
Products and services covered in Renters' Insurance industry in the United States include HO-4 (renters’ insurance) premiums, HO-6 (Condo/co-op insurance) premiums and Other.
What companies are included in this industry?
Companies covered in the Renters' Insurance industry in the United States include State Farm Mutual Automobile Insurance Co, Allstate Corp and Travelers Companies, inc.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Renters' Insurance industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Renters' Insurance industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Renters' Insurance industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Renters' Insurance industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Renters' Insurance industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Renters' Insurance industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Renters' Insurance industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Renters' Insurance industry in the United States.
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Frequently Asked Questions
What is the market size of the Renters' Insurance industry in the United States in 2026?
The market size of the Renters' Insurance industry in the United States is $5.9bn in 2026.
How many businesses are there in the Renters' Insurance industry in the United States in 2025?
There are 317 businesses in the Renters' Insurance industry in the United States, which has grown at a CAGR of 1.1 % between 2020 and 2025.
How may import tariffs affect the Renters' Insurance industry in the United States?
The Renters' Insurance industry in the United States is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Renters' Insurance industry in the United States?
The Renters' Insurance industry in the United States is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Renters' Insurance industry in the United States grown or declined over the past 5 years?
The market size of the Renters' Insurance industry in the United States has been growing at a CAGR of 3.4 % between 2020 and 2025.
What is the forecast growth of the Renters' Insurance industry in the United States over the next 5 years?
Over the next five years, the Renters' Insurance industry in the United States is expected to grow.
What are the biggest companies in the Renters' Insurance industry in the United States?
The biggest companies operating in the Renters' Insurance industry in the United States are State Farm Mutual Automobile Insurance Co, Allstate Corp and Travelers Companies, inc.
What does the Renters' Insurance industry in the United States include?
Providing HO-4 insurance policies and Providing HO-6 insurance policies are part of the Renters' Insurance industry in the United States.
Which companies have the highest market share in the Renters' Insurance industry in the United States?
The company holding the most market share in the Renters' Insurance industry in the United States is State Farm Mutual Automobile Insurance Co.
How competitive is the Renters' Insurance industry in the United States?
The level of competition is high and steady in the Renters' Insurance industry in the United States.
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