In the United States, losses related to the insurance of homeowners amounted to around 90 billion U.S. dollars in 2023, representing the highest recorded figure for the 2012-2023 period. In 2013, these losses amounted to approximately 35.5 billion U.S. dollars, what would represent an increase of around 55 billion dollars in a span of ten years.

Losses caused by lightning in the United States were the cause behind a total of ****** insurance claims paid by homeowner insurance companies in 2023. In 2008, lightning caused around ******* homeowner insurance claims in the same country.

Sweden Non Life Insurnace: Claims Paid: Householders and Homeowners Insurance data was reported at 4,450.321 SEK mn in Jun 2018. This records an increase from the previous number of 2,185.190 SEK mn for Mar 2018. Sweden Non Life Insurnace: Claims Paid: Householders and Homeowners Insurance data is updated quarterly, averaging 4,555.500 SEK mn from Dec 1996 (Median) to Jun 2018, with 74 observations. The data reached an all-time high of 10,238.553 SEK mn in Dec 2014 and a record low of 1,396.000 SEK mn in Mar 2001. Sweden Non Life Insurnace: Claims Paid: Householders and Homeowners Insurance data remains active status in CEIC and is reported by Statistics Sweden. The data is categorized under Global Database’s Sweden – Table SE.RG006: Non Life Insurance: Claims Paid.

Graph and download economic data for Producer Price Index by Industry: Premiums for Property and Casualty Insurance: Premiums for Other Property and Casualty Insurance (PCU9241269241267) from Dec 2003 to May 2025 about property-casualty, premium, insurance, PPI, industry, inflation, price index, indexes, price, and USA.

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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,

In the United States, homeowner insurance claims due to lightning losses made insurance companies pay out a total of approximately ******* million U.S. dollars in 2024. In 2020, the insurance claims due to lightning losses amounted to over *** billion U.S. dollars.

In recent three years, fire insurance claim ratio statistics in the property insurance market - (annual accidental year system) (CIRC)

Property Insurance Complaints Statistics (Insurance Industry Development Center)

In 2022, the net claims incurred by the personal property insurance sector in Canada amounted to nearly *** billion Canadian dollars. This is around *** billion Canadian dollars higher than the previous year,and over four times higher than the value recorded in 1990.

Kazakhstan Insurance Market: Year to Date: Claims Payments: Voluntary Property Insurance data was reported at 6,983.377 KZT mn in Jun 2018. This records an increase from the previous number of 6,240.388 KZT mn for May 2018. Kazakhstan Insurance Market: Year to Date: Claims Payments: Voluntary Property Insurance data is updated monthly, averaging 2,961.755 KZT mn from Jan 2002 (Median) to Jun 2018, with 198 observations. The data reached an all-time high of 39,536.381 KZT mn in Dec 2007 and a record low of 54.000 KZT mn in Jan 2002. Kazakhstan Insurance Market: Year to Date: Claims Payments: Voluntary Property Insurance data remains active status in CEIC and is reported by Committee for Control and Supervision of the Financial Market and Financial Organizations. The data is categorized under Global Database’s Kazakhstan – Table KZ.Z009: Insurance Market Statistics.

The global house insurance market is a substantial and steadily growing sector, exhibiting a robust expansion trajectory. While precise figures for market size and CAGR are unavailable, a logical estimation based on industry trends suggests a market valued at approximately $500 billion in 2025, experiencing a Compound Annual Growth Rate (CAGR) of around 5%. This growth is fueled by several key drivers, including rising property values, increasing urbanization leading to a higher concentration of insurable assets, and growing awareness of the importance of risk mitigation among homeowners. Furthermore, the increasing prevalence of natural disasters and climate change-related events are bolstering demand for comprehensive house insurance coverage. Technological advancements, such as the use of AI and big data in risk assessment and claims processing, are also shaping the market's evolution. Despite the positive growth outlook, the house insurance market faces certain constraints. Competitive pressures among established and new insurers, economic fluctuations impacting consumer spending on insurance, and regulatory changes impacting pricing and coverage options present challenges. Segmentation within the market is crucial, with variations in product offerings (e.g., bundled home and auto insurance, specialized coverage for high-value properties) and geographic distribution of risk impacting profitability. Major players such as State Farm, Tokio Marine Holdings, USAA, and others are constantly innovating their products and services to maintain a competitive edge and cater to the evolving demands of the homeowner insurance market. Successful strategies for growth include leveraging technology, providing personalized customer service, and developing sustainable risk management practices.

Recent three years of property insurance market statistics for motor vehicle insurance claims ratio - (annual)(CIRC)

Graph and download economic data for Producer Price Index by Industry: Direct Property and Casualty Insurers: Homeowner's Insurance (PCU5241265241262) from Jun 1998 to May 2025 about property-casualty, insurance, housing, PPI, industry, inflation, price index, indexes, price, and USA.

Since 2013, the total amount of net property insurance claims paid in the United Kingdom (UK) has increased overall, exceeding 20 billion British pounds in 2023. During that year, most of the money paid to the claims with the underwriting year 2022, amounting to almost nine billion British pounds.

Germany Property & Casualty Insurance (P&C): Number of Claims data was reported at 23,885.000 Unit th in 2023. This records an increase from the previous number of 22,676.000 Unit th for 2022. Germany Property & Casualty Insurance (P&C): Number of Claims data is updated yearly, averaging 22,720.000 Unit th from Dec 1985 (Median) to 2023, with 39 observations. The data reached an all-time high of 25,255.000 Unit th in 2002 and a record low of 18,552.000 Unit th in 1985. Germany Property & Casualty Insurance (P&C): Number of Claims data remains active status in CEIC and is reported by German Insurance Association. The data is categorized under Global Database’s Germany – Table DE.RG014: Non Life Insurance: Property & Casualty: Number of Claims.

Recently, statistics of the loss ratio of property insurance for goods transportation in the past two years - (by year of insurance coverage) - by company (insurance issuance center)

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.

Ireland Non Life Insurance: Number of New Claims Notified: Property: Household data was reported at 41,397.000 Unit in 2016. This records a decrease from the previous number of 52,373.000 Unit for 2015. Ireland Non Life Insurance: Number of New Claims Notified: Property: Household data is updated yearly, averaging 104,253.000 Unit from Dec 2001 (Median) to 2016, with 16 observations. The data reached an all-time high of 159,932.000 Unit in 2009 and a record low of 41,397.000 Unit in 2016. Ireland Non Life Insurance: Number of New Claims Notified: Property: Household data remains active status in CEIC and is reported by Insurance Ireland. The data is categorized under Global Database’s Ireland – Table IE.RG009: Non Life Insurance: Claims.

Recently, the marine hull insurance claim ratio statistics for the past three years in the property insurance market (underwriting year) (Insurance Bureau)

Online Property Insurance Market Outlook

The global online property insurance market size was valued at USD 45.2 billion in 2023 and is forecasted to reach USD 95.8 billion by 2032, growing at a CAGR of 8.7% from 2024 to 2032. The rapid adoption of digital platforms and increasing awareness about property risk management significantly drive the growth of this market. Additionally, technological advancements and the integration of artificial intelligence (AI) and big data analytics into the insurance process are crucial factors contributing to the market's expansion.

One of the primary growth factors for the online property insurance market is the increasing digital transformation across various sectors. With more businesses and individuals shifting their operations and activities online, the demand for digital insurance solutions is escalating. The convenience of acquiring insurance policies online, coupled with the ability to compare various plans and prices effortlessly, enhances the consumer experience, leading to market growth. Furthermore, the COVID-19 pandemic has accelerated this digital shift, as physical interactions have become limited, pushing more consumers towards online platforms for their insurance needs.

Another significant growth driver is the rising awareness and need for risk management. As natural disasters, thefts, and other unforeseen events become more prevalent, property owners are becoming increasingly aware of the importance of insuring their assets. This heightened awareness translates to a higher demand for property insurance products, especially those that can be easily accessed and managed online. Moreover, insurance companies are actively promoting their digital offerings through various marketing campaigns, further raising consumer awareness and driving market growth.

Technological advancements such as AI, big data analytics, and blockchain are reshaping the online property insurance landscape. These technologies enhance the efficiency and accuracy of underwriting, claims processing, and fraud detection. For instance, AI-powered chatbots can assist customers 24/7, providing instant policy quotes and answers to frequently asked questions, thereby improving customer service. Big data analytics enables insurers to better assess risk and customize policies according to individual needs, while blockchain ensures secure and transparent transactions, fostering trust among consumers.

Regionally, North America holds the largest market share, driven by the presence of major insurance companies and the high adoption rate of digital technologies. Europe is also a significant market, with countries like the UK, Germany, and France leading the way due to their advanced digital infrastructure. The Asia Pacific region is expected to witness the highest growth rate during the forecast period, attributed to the rapid digitalization in countries like China and India and the increasing middle-class population seeking property insurance products.

Type Analysis

The online property insurance market is divided into several types, including homeowners insurance, renters insurance, landlord insurance, condo insurance, and others. Homeowners insurance remains the most popular type, primarily because it offers comprehensive coverage for a wide range of risks, including damage from natural disasters, theft, and vandalism. This type of insurance is crucial for homeowners who want to protect their most valuable asset—their home. The convenience of purchasing and managing these policies online has made it easier for homeowners to stay insured and updated on their coverage.

Renters insurance is another essential segment within this market. This type of insurance is designed to protect tenants' personal property within a rented apartment or house. With the rise in the number of people living in rented accommodations, particularly in urban areas, the demand for renters insurance is growing. Online platforms make it simple for renters to compare and choose policies that best fit their needs and budget, thereby driving the market growth for this segment.

Landlord insurance caters to the specific needs of property owners who rent out their properties. This type of insurance covers the structure of the rental property and offers liability protection against tenant-related claims. The increasing popularity of rental properties as an investment avenue has fueled the demand for landlord insurance. Online platforms provide a seamless way for landlords to obtain and manage their insurance policies, ensuring they are well-p