State Farm Mutual Automobile Insurance was the leading private passenger car insurer in the United States in 2023, with premiums written amounting to approximately ** billion U.S. dollars. Progressive Corporation, and Berkshire Hathaway Inc. were the next largest insurers in that sector. State Farm: a background State Farm Mutual Automobile Insurance was founded in 1922 and is headquartered in Bloomington, Illinois. In 2023, the insurer was the******** writer of property and casualty insurance in the United States. They provide vehicle, homeowners, renters, life and annuities, health, disability and flood insurance among several other insurance products. Net promoter score and ad spend of State Farm Despite their market leader status, State Farm's net promoter score puts them in the middle of the pack with only ** percent of their customers saying they would recommend the insurer. However, their nearest competitors did not score any better with Progressive receiving a NPS of only ** percent in the same analysis. The three largest car insurers were also the biggest spenders on advertising.

In 2023, State Farm Mutual Automobile Insurance led the private passenger auto insurance market in the United States. State Farm held **** percent of the U.S. private passenger auto insurance market in terms of value of written premiums in 2023, followed by Progressive Corp and Berkshire Hathaway Inc.

Russia Consumer Price Index (CPI): Prev Month=100: Insurance Services: Compulsory Car Insurance data was reported at 99.870 Prev Mth=100 in Mar 2025. This records an increase from the previous number of 99.690 Prev Mth=100 for Feb 2025. Russia Consumer Price Index (CPI): Prev Month=100: Insurance Services: Compulsory Car Insurance data is updated monthly, averaging 100.130 Prev Mth=100 from Jan 2020 (Median) to Mar 2025, with 63 observations. The data reached an all-time high of 118.480 Prev Mth=100 in Sep 2022 and a record low of 99.190 Prev Mth=100 in Jun 2021. Russia Consumer Price Index (CPI): Prev Month=100: Insurance Services: Compulsory Car Insurance data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Inflation – Table RU.IA011: Consumer Price Index: Previous Month=100: Services.

The industry has faced challenges over the past five years, with issues such as a soft insurance market, low interest rates at the onset of the period and numerous catastrophes affecting all operators in major markets. However, the rapid growth of emerging markets has slightly offset stagnating mature markets. An expanding middle class in countries like China has increased demand for insurance, limiting declines in industry revenue. In addition, higher rates in the latter part of the period increased interest income on fixed income securities although higher rates increased borrowing costs, slowing residential property and new vehicle purchases. Overall, global direct general insurance carrier revenue is expected to lag at a CAGR of 1.1% to $2.9 trillion over the five years to 2025, including an expected increase of 0.2% in 2025 alone. Profit has also declined and will comprise 7.0% of revenue in the same year. The growing wealth of emerging economies has limited declines in the industry. Despite rising demand in emerging markets, operators have faced difficulties with renewals in developed markets because competitive rate pricing and perfectly tailored products are crucial to success. The industry's investment earnings have benefitted from global economic growth in the years leading up to 2025. The difficult economic period at the onset of the current period was offset by a massive influx of homeowners in key countries like the United States and Canada. This influx led to unprecedented demand for insurance of homes, condos and apartments, offsetting decreasing demand from the commercial side. Global direct general insurance carrier revenue is expected to grow at a CAGR of 1.7% to $3.1 trillion over the five years to 2030. Higher-income levels are likely to prompt more consumer purchases of normally insured goods such as cars and homes, thus leading to increased demand for the industry's services. Large established operators are expected to focus on cross-selling life and health policies to existing clients in response to this shift. However, it's likely that regulations will increase, which may somewhat limit profit growth. Central banks are anticipated to continue cutting rates in the outlook period, following rate cuts in the latter part of the current period, which may lead to increased demand for related insurance over the next five years.

The United Kingdom motor insurance market, valued at £23.44 billion in 2025, is projected to experience steady growth, exhibiting a Compound Annual Growth Rate (CAGR) of 4.16% from 2025 to 2033. This growth is driven by several factors. Rising vehicle ownership, particularly within younger demographics embracing personal mobility, fuels demand for insurance coverage. Furthermore, increasingly stringent government regulations regarding minimum insurance coverage and liability are bolstering market expansion. Technological advancements, such as telematics and usage-based insurance, are also shaping the market by offering customized pricing models and enhanced risk assessment capabilities. The market is segmented by product type (Third-Party, Third-Party Fire & Theft, Comprehensive) and distribution channel (Direct, Agency, Banks, Others). The competitive landscape includes major players like Aviva, Prudential, Zurich, AXA, and Allianz, among others, each vying for market share through innovative product offerings and strategic partnerships. However, the market also faces certain restraints. Fluctuating fuel prices and economic uncertainties can impact consumer spending on insurance premiums. Increased claims frequency and severity, potentially driven by factors like increased urbanization and road congestion, put pressure on insurers' profitability. Intense competition among established players and the emergence of new digital insurers further complicate the market dynamics. Despite these challenges, the long-term outlook remains positive, driven by continued vehicle sales and the adaptation of insurance providers to technological innovations and evolving customer needs. The focus will likely be on personalized pricing, risk mitigation through data analytics, and enhanced customer service experiences to maintain a competitive edge. Recent developments include: Feb 2022: For an initial payment of GBP 47.5 million, AXA UK&I purchased the renewal rights to Ageas UK's commercial operations. This acquisition reinforces AXA's growth strategy and dedication to its commercial business clients and broker alliances, particularly in the SME and Schemes market sectors. About 100 Ageas UK personnel will transfer to AXA Commercial as part of the arrangement to provide continued support and service delivery., Jan 2022: The cost of a comprehensive car insurance policy in Britain is expected to be volatile this year after rising 5% in the final quarter of 2021 as more drivers took to the roads to ease COVID-19 curbs. Motorists must pay GBP 539 (USD 734.06) on average for their comprehensive car insurance premiums.. Notable trends are: High Volatility in Car Insurance Premiums During the Past Few Years.

In Wyoming, owning a car costs around ****** U.S. dollars during the first year of ownership. The cost of ownership was calculated using several factors, such as fuel costs, insurance, registration and title fees, and expenditures for replacement parts and car payments.

According to Cognitive Market Research, the global Insurance Telematics market size is USD 3.9 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 17.6% from 2024 to 2031. Market Dynamics of Insurance Telematics Market

Key Drivers for Insurance Telematics Market

Growing Use Of Connected Vehicles Drives Market Expansion for Insurance Telematics - It is anticipated that the market for insurance telematics will continue to develop as more people purchase connected vehicles. Advanced communication systems and internet connectivity allow cars to communicate with other equipment, networks, and services inside and outside of the car. These types of cars are referred to as connected cars. Constant improvements in mobile technology and the capacity to gather and use data for predictive maintenance are the key reasons behind the emergence of connected cars. Several real-time data about driving behaviors and variables, such as speed, distance, location, braking, and acceleration, are provided by connected automobiles. Insurance companies may accurately evaluate the driving habits of individual drivers, adjust insurance rates according to real driving behaviors, and offer usage-based insurance (UBI) programs with the use of this data that is acquired through linked car systems and telematics technology. For instance, the number of connected cars worldwide is expected to increase from 192 million this year to more than 367 million in 2027, according to the January 2023 report from the IEEE Communications Society, a technical professional organization with its headquarters in the United States. Additionally, in February 2022, the US-based media business Crain Communications Inc. owned the weekly publication Automotive News, which states that Tesla sold 936,172 cars worldwide in 2021—a rise of 87.4% over the previous year. Consequently, the market for insurance telematics is expanding due to the growing use of linked automobiles.
In the next years, the insurance telematics market is anticipated to witness profitable growth prospects due to the expanding demand for insurance telematics and the growing urge to implement it across the insurance and automobile sectors.

Key Restraints for Insurance Telematics Market

Market expansion is expected to be slowed down by worries about data theft and a lack of transparency in data collection practices.
The technological complexity and diversity of telematics systems and devices is a major obstacle to the adoption of telematics standards.

Introduction of the Insurance Telematics Market

Insurance telematics gathers, measures, and transmits a variety of data points to follow individual drivers' driving habits. It typically functions as a tiny GPS-based gadget installed inside a car that tracks whereabouts and keeps an eye on a variety of metrics, including location, speed, and distance. Additionally, insurers can create usage-based insurance (UBI) schemes and adjust premium costs for policyholders of auto insurance by tracking drivers' behavior behind the wheel. The insurance and automobile industries' growing requirement for telematics devices is driving the market's expansion. This is explained by the fact that telematic devices facilitate improved premium pricing, improve the way customers view a business, and build long-lasting connections by fostering tighter communication.

The size of the United Kingdom Motor Insurance Market was valued at USD 23.44 Million in 2023 and is projected to reach USD 31.18 Million by 2032, with an expected CAGR of 4.16% during the forecast period. Recent developments include: Feb 2022: For an initial payment of GBP 47.5 million, AXA UK&I purchased the renewal rights to Ageas UK's commercial operations. This acquisition reinforces AXA's growth strategy and dedication to its commercial business clients and broker alliances, particularly in the SME and Schemes market sectors. About 100 Ageas UK personnel will transfer to AXA Commercial as part of the arrangement to provide continued support and service delivery., Jan 2022: The cost of a comprehensive car insurance policy in Britain is expected to be volatile this year after rising 5% in the final quarter of 2021 as more drivers took to the roads to ease COVID-19 curbs. Motorists must pay GBP 539 (USD 734.06) on average for their comprehensive car insurance premiums.. Key drivers for this market are: Data Privacy Regulations, Business Interruption. Potential restraints include: Complexity and Lack of Understanding, Cost of Coverage. Notable trends are: High Volatility in Car Insurance Premiums During the Past Few Years.

In New Hampshire, owning a car costs around ***** U.S. dollars during the first year of vehicle ownership. The cost of ownership was calculated using several factors, such as fuel costs, insurance, registration and title fees, and expenditures for replacement parts and car payments.

US Car Bumper Guard Market size was valued at USD 1.5 Billion in 2024 and is projected to reach USD 5.3 Billion by 2032, growing at a CAGR of 8% from 2025 to 2032.

Key Market Drivers: Rising Vehicle Ownership and Urban Parking Challenges: According to the U.S. Department of Transportation's Federal Highway Administration, the number of registered automobiles will reach 284 million in 2023, up 5.2% from 2021. According to the US Department of Energy, parking-related incidents in metropolitan areas increased by 23% between 2021 and 2023. The National Highway Traffic Safety Administration (NHTSA) reports that minor parking collisions account for 32% of all reported vehicle damage occurrences, increasing demand for protective equipment such as bumper guards.

Increasing Consumer Focus on Vehicle Protection and Resale Value: According to the Bureau of Labor Statistics, the average cost of car ownership will rise by 14.3% in 2023, with repair costs increasing by 19.8%. According to the National Automobile Dealers Association (NADA), vehicles with well-maintained exterior protection equipment have a 15-20% higher resale value. According to the Insurance Institute for Highway Safety (IIHS), bumper-related repairs will cost an average of $3,500 per occurrence in 2023, highlighting the need for preventive measures like protective accessories.

Russian insurance sector executives showed optimism for the voluntary medical insurance segment for 2021, with the expected loss ratio reducing from ** percent in 2020 to ** percent in 2021. The loss ratio was expected to increase slightly in the comprehensive car insurance segment, Casco.

Car Rental (hiring of a passenger vehicle for self drive, which includes cars and small vans, by both business and leisure travelers for short term duration; excluding leasing and long term rentals) market has evolved intensely in the very recent years and is also expected to evolve in similar fashion in the near future. The report Car Rentals (Self Drive) Market in Chile to 2021: Fleet Size, Rental Occasion and Days, Utilization Rate and Average Revenue Analytics provides deep dive data analytics on wide ranging Car Rental market aspects including overall market value by customer type – Business and Leisure, by point of rental – Airport and Non-Airport, Insurance / Temporary Replacement Revenue, Car Rental Occasion, Days and Length for the period 2012 to 2016. Read More

Car Rental (hiring of a passenger vehicle for self drive, which includes cars and small vans, by both business and leisure travelers for short term duration; excluding leasing and long term rentals) market has evolved intensely in the very recent years and is also expected to evolve in similar fashion in the near future. The report Car Rentals (Self Drive) Market in Austria to 2021: Fleet Size, Rental Occasion and Days, Utilization Rate and Average Revenue Analytics provides deep dive data analytics on wide ranging Car Rental market aspects including overall market value by customer type – Business and Leisure, by point of rental – Airport and Non-Airport, Insurance / Temporary Replacement Revenue, Car Rental Occasion, Days and Length for the period 2012 to 2016. Read More

Car Rental (hiring of a passenger vehicle for self drive, which includes cars and small vans, by both business and leisure travelers for short term duration; excluding leasing and long term rentals) market has evolved intensely in the very recent years and is also expected to evolve in similar fashion in the near future. The report Car Rentals (Self Drive) Market in Egypt to 2021: Fleet Size, Rental Occasion and Days, Utilization Rate and Average Revenue Analytics provides deep dive data analytics on wide ranging Car Rental market aspects including overall market value by customer type – Business and Leisure, by point of rental – Airport and Non-Airport, Insurance / Temporary Replacement Revenue, Car Rental Occasion, Days and Length for the period 2012 to 2016. Read More

The frequency of private passenger auto collision insurance claims for physical damage in the United States dropped sharply in 2020 and remained low in 2021, falling to **** per 100 car years. This compares to **** claims per 100 car years in 2019 and *** claims in 2007. Most likely, the primary reason for this decline was the reduction in traffic due to the coronavirus (COVID-19) pandemic. In 2023, insurance claims for physical damage in the United States slightly increased to **** per 100 cars.

The value of incurred losses for auto insurance in the United States from 2011 to 2024 steadily increased, aside from a dip seen in 2020 when the levels rested at ****** billion U.S. dollars. From 2021 onwards, the auto insurance losses in the U.S. continued to increase once again. As of 2024, losses rested at ****** billion U.S. dollars.

In 2022, auto insurance was the insurance branch with the highest average net promoter score (NPS) in the United States. NPS demonstrates policyholder loyalty and measures how likely customers are to recommend their insurer. Auto insurers received, on average, a NPS of ** percent in 2022. Who leads the U.S. auto insurance market? Also known as car insurance, auto insurance refers to coverage in the event of accidental injury or damage to people, animals, vehicles, and property caused in the event of an accident involving a motor vehicle. In 2021, the auto insurance market in the U.S. was led by Progressive Corporation, which had the largest market share of U.S. auto insurers. Progressive Corporation also had the highest value of direct premiums written that year. Auto insurance incurred losses In insurance, incurred losses refers to the benefits paid to policyholders during the current year, in addition to the changes to loss reserves from the previous year. In 2021, the incurred losses for the U.S. auto insurance industry amounted to almost *** billion U.S. dollars.

The most popular embedded insurance option among traditional bank customers was travel insurance in a survey conducted in the United States in March 2021. Approximately ** percent of the respondents said that they would be highly interested in receiving bank-embedded travel insurance offers based on their transaction history. Meanwhile, the most compelling bank-embedded insurance option among digital bank customers was auto insurance.

Battery electric vehicles (BEVs) are projected to incur costs of around 50 euros per 100 km in 2030, the cheapest of all motor vehicles on the road. Vehicles using synthetic fuel that are powered by a mild hybrid electric drivetrain or an internal combustion engine are forecast to be the most expensive.

BEV’s cost advantage Mobility costs refer to the expenditure required for travel; they include costs relating to fuel, tax, insurance, and depreciation. BEVs are expected to be the most cost effective in 2030 due to fewer parts and less exposure to wear and tear. Furthermore, many drivers around the world are already taking advantage of financial incentives offered for switching to electric mobility. In China, the world leader for sales of BEVs, subsidies are available on purchases of new energy vehicles, and in the United States, electric vehicle buyers are eligible for a federal tax credit of up to 7,500 U.S. dollars – a state subsidy that many survey respondents consider to be appropriate. However, policymakers are likely to reduce the subsidies on offer for the purchase of electric vehicles over the next decade.

Hybrid vehicles: the best of both worlds? There are two types of hybrid electric vehicles on the market: mild hybrid electric vehicles (MHEV) and plug-in hybrid electric vehicles (PHEV). Both have an internal combustion engine and an electric engine, but the electric motor within an MHEV is not powerful enough to propel the vehicle on its own; it simply assists the internal combustion engine when fuel consumption is particularly high. The electric engine within a PHEV can be recharged via a charging socket and is capable of powering the car by itself. It is forecast that MHEVs and PHEVs will account for around 21 percent of global car sales in 2030.