Home Insurance Market Slated to Grow 7.3% Worldwide
Government programs, rising household numbers and adoption of insurance in emerging markets are expected to drive the sector.
The global home insurance market is projected to increase 7.3%, compounded annually, through 2027, according to Allied Market Research. The sector is expected to reach $395 billion by the end of the forecast period.
Comprehensive coverage was the leading segment type, accounting for around 60% of the market worldwide during 2019, the research company reported. However, content coverage policies are expected to see the highest compound annual growth rate, outpacing the overall market with a 9.6% projection.
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