Graph and download economic data for Homeownership Rate in the United States (RHORUSQ156N) from Q1 1965 to Q2 2025 about homeownership, housing, rate, and USA.

Homeowners insurance premiums in the United States have increased in cost over the past two decades and reached a peak in 2024. The average premiums for homeowners insurance increased from ***** U.S. dollars in 2007 to ***** U.S. dollars in 2024.

Graph and download economic data for Producer Price Index by Industry: Premiums for Property and Casualty Insurance: Premiums for Homeowner's Insurance (PCU9241269241262) from Jun 1998 to Jun 2025 about property-casualty, premium, insurance, housing, PPI, industry, inflation, price index, indexes, price, and USA.

In 2024, the southern state of Oklahoma offered the least affordable homeowners insurance conditions for homeowners in the United States. Homeowners in Oklahoma paid annually almost 5,495 U.S. dollars in order to have insurance coverage for their homes. In the meantime, homeowners in the midwestern state of Nebraska had to spend approximately 4,135 U.S. dollars on an annual basis for the same sort of insurance.

Home Ownership Rate in the United States decreased to 65.10 percent in the first quarter of 2025 from 65.70 percent in the fourth quarter of 2024. This dataset provides the latest reported value for - United States Home Ownership Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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Homeowners Insurance Market Size 2024-2028

The homeowners insurance market size is forecast to increase by USD 65.9 billion at a CAGR of 4.6% between 2023 and 2028.

The market is experiencing significant growth due to several key factors. The increasing number of natural disasters and man-made hazards has led to a higher demand for comprehensive insurance coverage. New technological developments In the home insurance industry, such as the use of drones for property inspections and smart home systems for risk mitigation, are transforming the market. Additionally, the vulnerability to cybercrimes, including identity theft and hacking, is driving insurers to offer cyber insurance policies as part of their homeowners packages. These trends are shaping the future of the market and are expected to continue influencing its growth.

What will be the Size of the Homeowners Insurance Market During the Forecast Period?

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The market is a significant segment of the global casualty insurance sector, providing financial protection for homeowners against various risks. Homeowners, as key asset holders, rely on insurance companies to safeguard their financial security against potential losses from incidents such as natural disasters, theft, and property damage. Insurers employ advanced risk assessment tools to evaluate and price policies based on factors like location, property values, and historical claims data. Recent market trends include increasing concerns over catastrophic risks, driven by both natural disasters and pandemic-related losses. The low-interest-rate environment has also influenced the market, affecting loss reserves and policyholder surplus.
Moreover, insurance companies continue to navigate the challenges posed by financial market losses and the legal responsibility to policyholders for covered damages. Asset prices and loss reserves remain crucial indicators of market stability, with property insurance and household/private property insurance being the primary types of coverage sought by homeowners.

How is this Homeowners Insurance Industry segmented and which is the largest segment?

The homeowners insurance industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Fire and theft
  House damage
  Floods and earthquake
  Others


Source

  Captive
  Independent agent
  Direct response


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    Japan


  South America



  Middle East and Africa

By Type Insights

The fire and theft segment is estimated to witness significant growth during the forecast period.

The market growth is driven by the increasing prevalence of natural disasters and theft incidents, leading homeowners to seek additional coverage beyond standard property insurance policies. Fire insurance, a significant segment, protects against losses caused by fire, with many homeowners opting for additional coverage to offset costs exceeding their base policy limits. Policies exclude certain perils, such as war and nuclear risks. Theft insurance, another essential component, safeguards against financial losses resulting from theft or vandalism. Advanced risk assessment tools enable insurance firms to customize policies based on clients' risk profiles and underwriting guidelines, offering premium payment flexibility and virtual interactions.

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The fire and theft segment was valued at USD 80.90 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 40% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American market will experience steady growth due to the high frequency of natural disasters, leading to an increased demand for reinsurance policies. Catastrophic events, such as hurricanes, tornados, and tsunamis, can cause significant damage to residential properties, resulting in substantial insurance claims. Reinsurers provide capital to primary insurers when the number of claims is high, ensuring financial security for policyholders. Despite the challenges, reinsurance firms have managed to maintain consistent revenue streams. Property values, homeowners, assets, and liability coverage are integral components of homeowners insurance policies. Insurance providers offer customized policies for various risks, including natural disasters,

Homeowners' insurance protects households against property damage from natural causes or theft and liability from inflicting bodily injury or property damage on others. Demand for homeowners' insurance is typically stable regardless of fluctuations in macroeconomic factors. Homeowners' insurance is typically considered a requisite expense for protection against the inherent risks of homeownership. To this end, well over three-quarters of all US households have homeowners' insurance. Although, the industry's supply of homeowners' insurance and underwriting results vary significantly by geographic region because of differences in local claims costs, profitability and competitive market conditions. Over the past five years, revenue has been growing at a CAGR of 2.3% to $144.0 billion, including an expected 0.8% increase in 2024 alone. Profit is also expected to climb to 12.6% of revenue in 2024 from 12.5% in 2019. An increase in housing starts over the past five years, combined with a rising number of households, has increased demand for homeowners' insurance and boosted revenue from premiums. Also, revenue growth has been accelerated by elevated fixed-income yields in the latter part of the period, specifically in yields of the 10-year Treasury note. However, in 2024 the Federal Reserve cut interest rates and is anticipated to cut rates further. Over the next five years, declines in the homeownership rate will limit insurance premiums. Also, investment income will be pressured because of falling fixed-income yields. To service greater demand for homeowners' insurance, new enterprises are expected to enter the industry. Due to new entrants and the expansion of incumbents, industry participation and employment are projected to swell. The rising frequency and intensity of natural disasters will continue to limit growth in profitability because of increases in claims payments. Overall, revenue is forecast to grow at a CAGR of 1.9% to $158.1 billion over the five years to 2029.

The Report Covers US Home Insurance Market Size & Industry Statistics and it is Segmented by Insurance Type and Distribution Channels.

Graph and download economic data for Homeownership Rate for the United States (USHOWN) from 1984 to 2024 about homeownership, housing, rate, and USA.

Homeowners Insurance Market Outlook

The global homeowners insurance market is experiencing significant growth, with a market size valued at approximately USD 104.7 billion in 2023. The market is expected to reach USD 171.7 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.7% during the forecast period. This growth is driven by several factors, including the increasing frequency of natural disasters, the rising value of residential properties, and the growing awareness among individuals about the importance of safeguarding their assets. These driving forces are reshaping the landscape of homeowners insurance, making it a critical component for financial planning in the coming years.

One of the primary growth factors for the homeowners insurance market is the escalating frequency of natural disasters worldwide. Events such as hurricanes, earthquakes, floods, and wildfires are becoming more common, prompting individuals to seek comprehensive insurance coverage to protect their homes and belongings. This trend is particularly pronounced in regions prone to such disasters, where insurance providers are witnessing a surge in demand for policies that offer robust protection against these unpredictable events. Consequently, insurers are innovating their product offerings, including coverage for climate change-related risks, thereby driving market growth.

Another significant factor contributing to market expansion is the rising value of residential real estate. As property prices escalate, homeowners are increasingly recognizing the need for adequate insurance coverage to protect their investments. This is particularly important in urban areas where real estate values are surging due to increased demand and limited supply. In response, insurance providers are offering tailored policies that cater to high-value homes and properties located in premium locations. This trend is not only boosting market growth but also encouraging the development of specialized insurance products that cater to the diverse needs of property owners.

The growing awareness and understanding of homeowners insurance among the general population are also playing a crucial role in market growth. Increasing access to information through digital platforms and awareness campaigns by insurers are educating consumers about the benefits and necessity of having homeowners insurance. This increased awareness is translating into higher policy adoption rates, particularly among younger homeowners and first-time buyers who are keen to protect their assets from unforeseen events. Additionally, technological advancements such as digital policy management and online claims processing are making insurance more accessible and user-friendly, further propelling market expansion.

Property Insurance plays a pivotal role in the broader homeowners insurance market, providing essential coverage that extends beyond just the physical structure of a home. It encompasses protection for personal property and assets within the home, offering a safety net against theft, damage, and unforeseen events. As the value of personal belongings increases, homeowners are increasingly seeking comprehensive property insurance policies that offer peace of mind and financial security. This trend is driving insurers to innovate and expand their offerings, ensuring that policyholders have access to tailored coverage that meets their unique needs. The integration of technology, such as smart home devices, is further enhancing the appeal of property insurance by enabling more accurate risk assessments and personalized policy options. This evolution in property insurance is a testament to the industry's commitment to adapting to consumer demands and providing robust protection in an ever-changing risk landscape.

Regionally, North America remains the largest market for homeowners insurance, driven by the high value of real estate and the prevalence of natural disasters. The United States, in particular, is a key market owing to its large housing market and the propensity for catastrophic weather events. Meanwhile, Europe is witnessing steady growth, supported by strong regulatory frameworks and the high penetration of insurance products. In the Asia Pacific region, rapid urbanization and rising disposable incomes are fueling demand for homeowners insurance, positioning this region as a lucrative market for future growth. The Middle East and Africa, although smaller in market size, are gradually embracing homeowners insurance as economic development and property investments increase.</p

In the presented European countries, the homeownership rate extended from 42 percent in Switzerland to as much as 96 percent in Albania. Countries with more mature rental markets, such as France, Germany, the UK and Switzerland, tended to have a lower homeownership rate compared to the frontier countries, such as Lithuania or Slovakia. The share of house owners among the population of all 27 European countries has remained relatively stable over the past few years. Average cost of housing Countries with lower homeownership rates tend to have higher house prices. In 2023, the average transaction price for a house was notably higher in Western and Northern Europe than in Eastern and Southern Europe. In Austria - one of the most expensive European countries to buy a new dwelling in - the average price was three times higher than in Greece. Looking at house price growth, however, the most expensive markets recorded slower house price growth compared to the mid-priced markets. Housing supply With population numbers rising across Europe, the need for affordable housing continues. In 2023, European countries completed between one and six housing units per 1,000 citizens, with Ireland, Poland, and Denmark responsible heading the ranking. One of the major challenges for supplying the market with more affordable homes is the rising construction costs. In 2021 and 2022, housing construction costs escalated dramatically due to soaring inflation, which has had a significant effect on new supply.

Home Ownership Rate in Israel increased to 68 percent in 2024 from 62.70 percent in 2021. This dataset provides - Israel Home Ownership Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Home Ownership Rate in Canada decreased to 66.70 percent in 2023 from 69.30 percent in 2021. This dataset provides the latest reported value for - Canada Home Ownership Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Home Ownership Rate in the United Kingdom decreased to 64.50 percent in 2023 from 64.70 percent in 2022. This dataset provides the latest reported value for - United Kingdom Home Ownership Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Homeownership Rate for California was 55.30% in January of 2024, according to the United States Federal Reserve. Historically, Homeownership Rate for California reached a record high of 60.20 in January of 2006 and a record low of 53.60 in January of 1989. Trading Economics provides the current actual value, an historical data chart and related indicators for Homeownership Rate for California - last updated from the United States Federal Reserve on August of 2025.

Homeowner Insurance Market Outlook

The global homeowner insurance market size was valued at approximately $104 billion in 2023 and is expected to reach around $152 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.3% during the forecast period. This robust growth is primarily driven by increasing homeownership rates, rising property values, and the growing awareness of the importance of insurance coverage for unforeseen events.

The homeowner insurance market is witnessing substantial growth due to several key factors. First and foremost, the rising trend of urbanization and the development of smart cities are leading to an increase in homeownership rates. As more people move into urban areas and invest in property, the demand for homeowner insurance to protect these valuable assets also increases. Additionally, the escalating cost of construction and property values is prompting homeowners to seek comprehensive insurance coverage to mitigate potential financial risks.

Another significant growth factor is the increasing frequency and severity of natural disasters and extreme weather events. Hurricanes, floods, wildfires, and earthquakes are becoming more common, causing extensive damage to residential properties. This heightened awareness of the vulnerabilities associated with climate change is driving homeowners to invest in insurance policies that offer protection against such risks. Insurance companies are also responding by offering specialized coverage options tailored to specific natural hazards.

Technological advancements and the proliferation of digital platforms have also played a crucial role in the growth of the homeowner insurance market. The adoption of advanced technologies, such as artificial intelligence and data analytics, has enabled insurance companies to streamline their operations, enhance customer experiences, and tailor insurance products to individual needs. Online distribution channels and mobile applications have made it easier for consumers to compare policies, obtain quotes, and purchase coverage, thereby boosting market growth.

Regionally, North America holds a significant share of the homeowner insurance market, driven by high homeownership rates and the presence of well-established insurance providers. The region's stringent regulatory framework and mandatory insurance requirements for mortgage approval further contribute to market growth. Europe also represents a substantial market, with countries like the United Kingdom, Germany, and France witnessing steady demand for homeowner insurance. The Asia Pacific region is anticipated to experience the highest growth rate, attributable to rapid urbanization, increasing disposable incomes, and rising awareness of insurance products among homeowners.

Coverage Type Analysis

In terms of coverage types, the homeowner insurance market is segmented into dwelling coverage, personal property coverage, liability coverage, additional living expenses, and others. Dwelling coverage remains the cornerstone of homeowner insurance policies, protecting the physical structure of the home against damages caused by perils such as fire, storms, and vandalism. This type of coverage is typically mandatory for mortgage lenders, ensuring that the property is insured to its replacement cost.

Personal property coverage is another critical component, offering protection for the homeowner's belongings such as furniture, electronics, and clothing. This coverage is essential for safeguarding against theft, damage, or loss of personal items. It often includes provisions for high-value items like jewelry and collectibles, which may require additional riders or endorsements for full coverage. As the value of personal property increases, so does the importance of having adequate insurance protection.

Liability coverage is designed to protect homeowners from legal and financial responsibilities arising from accidents or injuries that occur on their property. This coverage extends to incidents such as slips and falls, dog bites, and damage caused to third-party property. With the increasing incidence of litigation and the high cost of legal settlements, liability coverage has become a crucial aspect of homeowner insurance policies, providing peace of mind and financial security.

Additional living expenses (ALE) coverage provides financial support for temporary housing and related costs if the insured home becomes uninhabitable due to a covered peril. This coverage ensures that homeowners can maintain their standar

Home Ownership Rate in Denmark increased to 60.90 percent in 2024 from 60 percent in 2023. This dataset provides the latest reported value for - Denmark Home Ownership Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Home insurance rates in France will continue to rise due to an estimated increase in claims of *** percent to * percent in 2020. The lockdown linked to the COVID-19 had a moderate and favorable impact on claims, resulting in a drop in the frequency of theft and fire, respectively ** percent and * percent. On the other hand, the climactic events of the first quarter, with notably heavy rainfall, have strongly deteriorated the claims experience for hail and snowstorms as well as for water damage, which accounted for the main cause of claims.

Home Insurance Market size was valued at USD 276.65 Billion in 2023 and is projected to reach USD 524.32 Billion by 2031, growing at a CAGR of 8.32% from 2024 to 2031.

Home Insurance Market: Definition/ Overview

Home insurance, often known as homeowners insurance, is a sort of property insurance that covers financial losses and damages to a person's home and its contents. This insurance often covers the house's physical structure, personal needs, liability for property-related accidents, and additional living expenses if the home is temporarily unusable due to a covered occurrence. Policies frequently cover risks such as fire, theft, vandalism, and natural disasters such as storms and hurricanes, although coverage details can vary greatly.

Home insurance is required by homeowners to protect their financial investment in their property. It is frequently needed by mortgage lenders as a condition of loan approval to ensure that the property is safeguarded from any damages. Homeowners can customize their insurance policy depending on their specific needs, selecting from a variety of levels of coverage for both their home and personal possessions. Furthermore, home insurance policies may contain liability coverage, which protects homeowners from legal and medical costs if someone is injured on their property. Home insurance is an important part of homeowners' financial planning and risk management because of its wide range of applications.

Home insurance is expected to be influenced by technological improvements and shifting environmental conditions. With the growth of smart home technology, insurers may now provide personalized plans that use data from connected devices to monitor home safety and usage trends, potentially lowering rates for proactive risk management. Furthermore, climate change and the increased frequency of natural disasters will drive the evolution of coverage alternatives, demanding more comprehensive plans to manage emerging risks. Insurers may also create more adaptable and modular insurance solutions, enabling homeowners to dynamically alter their coverage based on their requirements and circumstances. As data analytics and artificial intelligence improve, the house insurance business is expected to become more customized, efficient, and sensitive to homeowners' changing demands.

Our Home Ownership Mortgage Database is rebuilt from every two months and contains information on over 50+ million US Homeowners. The data is collected from county recorder and assessor offices.

The file is processed via National Change of Address (NCOA) to ensure deliverability. Additionally, the data is passed against suppression files to eliminate consumers or telephone numbers as appropriate such as Decease File, State Attorney General (SAG) data, the Direct Marketing Association's (DMA) do-not-mail and do-not-call lists, and the national FTC do-not-call file.

Selections include mortgage loan and property attributes along with household, individual and neighborhood demographics.