Home Emergency Insurance Services Market Size, Share, Trends, Growth Outlook

The Global Home Emergency Insurance Services Market Size is estimated to register 7.1% growth over the forecast period from 2023 to 2030.

 

The market growth is driven by an increase in the future of home emergency insurance may involve more extensive use of AI and predictive analytics. Insurers could leverage machine learning algorithms to assess and predict risks more accurately. This could include analyzing historical data, weather patterns, and other variables to anticipate potential emergencies and proactively provide risk mitigation measures to policyholders. Leading Companies focusing on Expansion of Coverage for Emerging Risks, Blockchain for Transparency and Efficiency, and others to boost market shares in the industry.

 

Market Overview

The home emergency insurance services market offers coverage for unforeseen events damaging or disrupting homes, encompassing natural disasters, system failures, and other emergencies. Fueled by heightened awareness of climate risks, technological integration like smart home devices, and evolving consumer expectations, insurers are adapting policies to provide personalized solutions. Regulatory changes and global events, including pandemics, influence market dynamics. The competitive landscape is characterized by insurers differentiating through innovative coverage, customer service, and technological advancements. Adaptability to regulatory shifts and emerging risks is critical for market resilience.

 

Market Dynamics

Market Trends- The Home Emergency Insurance Services Market faces the critical challenge of adapting to the growing frequency and severity of natural disasters.

The Home Emergency Insurance Services Market confronts a critical challenge in adapting to the increasing frequency and severity of natural disasters. Insurers are responding by integrating advanced technologies like AI and smart home devices for more effective risk assessment and prevention. Regulatory changes are influencing policy structures and risk models. The market's ability to innovate in providing coverage for emerging risks and streamline claims processes will be essential for resilience amid the evolving landscape of climate-related challenges.

 

Market Driver- Technological Advancements and IoT Integration Fuel Demand for Home Emergency Insurance Services Market

Technological advancements and the integration of the Internet of Things (IoT) are fueling a heightened demand for Home Emergency Insurance Services. The adoption of smart home technologies enables insurers to assess and mitigate risks more effectively, offering personalized coverage to homeowners. The intersection of AI and predictive analytics further enhances insurers' capabilities for proactive risk management. This evolving landscape presents opportunities for innovation and efficiency in addressing home-related emergencies.

 

Market Opportunity- Changing Consumer Expectations and Personalization Drive Transformation in the Home Emergency Insurance Services Market

The Home Emergency Insurance Services Market is undergoing a significant transformation due to evolving consumer expectations and a growing focus on personalization. Providers are adjusting their offerings to cater to individual needs and preferences as homeowners increasingly seek more tailored insurance solutions. This adaptation involves the implementation of flexible policies, transparent communication, and streamlined claims processes in response to heightened consumer demand for a personalized and efficient insurance experience. Customization trends extend to coverage options, deductibles, and overall policy structures. Insurers are notably investing in technology and data analytics to comprehensively understand and address the unique requirements of homeowners, signaling a noteworthy departure from the traditional approach to home emergency insurance services.

 

Market Share Analysis- Bundled with Energy Provider the Home Emergency Insurance Services Market will register the fastest growth

The Global Home Emergency Insurance Services Market is analyzed across Stand-alone, Bundled with Home Insurance, Bundled with Energy Providers, and others. Bundled with Energy Provider is poised to register the fastest growth. The Home Emergency Insurance Services Market is experiencing a trend of bundling with energy providers, where home emergency insurance services are offered alongside energy services. This integration aims to simplify the customer experience and create comprehensive solutions for homeowners. By combining insurance coverage for unforeseen home emergencies with energy services, providers seek to enhance customer value and promote a more integrated approach to home management. This strategic alignment reflects the industry's response to evolving consumer needs for convenience and comprehensive solutions.

 

Market Share Analysis- Boiler/ Central Heating held a significant market share in 2023

The Global Home Emergency Insurance Services Market is analyzed across various applications including Landlords/Home Owners, Tenants, Boiler/ Central Heating, and others. Of these, Boiler/ Central Heating held a significant market share in 2023. The Home Emergency Insurance Services Market is addressing specific needs related to boilers and central heating systems, offering comprehensive coverage for breakdowns or failures. This specialized insurance ensures homeowners receive prompt assistance and financial support in the event of issues with these essential home heating systems. The market's focus on boiler and central heating coverage highlights the importance of tailored solutions, enhancing the overall value and relevance of home emergency insurance services for homeowners.

 

Home Emergency Insurance Services Market Segmentation

By Type

• Stand-alone
• Bundled with Home Insurance
• Bundled with Energy Provider

By Application

• Landlords/Home Owners
• Tenants
• Boiler/ Central Heating

By Cover Type

• Installation
• Maintenance
• Repair

By Premium Type

• Monthly
• Quarterly
• Annual

By Region

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)

 

Home Emergency Insurance Services Market Companies

• RSA Insurance (United Kingdom)
• 24/7 Home Rescue (United Kingdom)
• Admiral Group (United Kingdom)
• Aviva (United Kingdom)
• AXA (France)
• Barclays (United Kingdom)
• Better Home Cover Ltd (United Kingdom)
• British Gas United Kingdom)
• Churchill Insurance (Direct Line Insurance Group plc)
• CORGI HomePlan Ltd
• EDF Energy
• Hiscox UK
• HomeServe Membership Ltd
• Hometree
• Legal & General
• Lifesure Group
• NPower
• Royal & Sun Alliance Insurance
• Scottish Power Energy Retail
• SSE
• SSL Plc
• Tesco Bank

*List not exhaustive

Home Emergency Insurance Services Market Outlook 2023

1 Market Overview

1.1 Introduction to the Home Emergency Insurance Services Market

1.2 Scope of the Study

1.3 Research Objective

1.3.1 Key Market Scope and Segments

1.3.2 Players Covered

1.3.3 Years Considered

 

2 Executive Summary

2.1 2023 Home Emergency Insurance Services Industry- Market Statistics

3 Market Dynamics

3.1 Market Drivers

3.2 Market Challenges

3.3 Market Opportunities

3.4 Market Trends

 

4 Market Factor Analysis

4.1 Porter’s Five Forces

4.2 Market Entropy

4.2.1 Global Home Emergency Insurance Services Market Companies with Area Served

4.2.2 Products Offerings Global Home Emergency Insurance Services Market

 

5 COVID-19 Impact Analysis and Outlook Scenarios

5.1.1 Covid-19 Impact Analysis

5.1.2 post-COVID-19 Scenario- Low Growth Case

5.1.3 post-COVID-19 Scenario- Reference Growth Case

5.1.4 post-COVID-19 Scenario- Low Growth Case

 

6 Global Home Emergency Insurance Services Market Trends

6.1 Global Home Emergency Insurance Services Revenue (USD Million) and CAGR (%) by Type (2018-2030)

6.2 Global Home Emergency Insurance Services Revenue (USD Million) and CAGR (%) by Applications (2018-2030)

6.3 Global Home Emergency Insurance Services Revenue (USD Million) and CAGR (%) by regions (2018-2030)

 

7 Global Home Emergency Insurance Services Market Revenue (USD Million) by Type, and Applications (2018-2022)

7.1 Global Home Emergency Insurance Services Revenue (USD Million) by Type (2018-2022)

7.1.1 Global Home Emergency Insurance Services Revenue (USD Million), Market Share (%) by Type (2018-2022)

7.2 Global Home Emergency Insurance Services Revenue (USD Million) by Applications (2018-2022)

7.2.1 Global Home Emergency Insurance Services Revenue (USD Million), Market Share (%) by Applications (2018-2022)

 

8 Global Home Emergency Insurance Services Development Regional Status and Outlook

8.1 Global Home Emergency Insurance Services Revenue (USD Million) By Regions (2018-2022)

8.2 North America Home Emergency Insurance Services Revenue (USD Million) by Type, and Application (2018-2022)

8.2.1 North America Home Emergency Insurance Services Revenue (USD Million) by Country (2018-2022)

8.2.2 North America Home Emergency Insurance Services Revenue (USD Million) by Type (2018-2022)

8.2.3 North America Home Emergency Insurance Services Revenue (USD Million) by Applications (2018-2022)

8.3 Europe Home Emergency Insurance Services Revenue (USD Million), by Type, and Applications (USD Million) (2018-2022)

8.3.1 Europe Home Emergency Insurance Services Revenue (USD Million), by Country (2018-2022)

8.3.2 Europe Home Emergency Insurance Services Revenue (USD Million) by Type (2018-2022)

8.3.3 Europe Home Emergency Insurance Services Revenue (USD Million) by Applications (2018-2022)

8.4 Asia Pacific Home Emergency Insurance Services Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2022)

8.4.1 Asia Pacific Home Emergency Insurance Services Revenue (USD Million) by Country (2018-2022)

8.4.2 Asia Pacific Home Emergency Insurance Services Revenue (USD Million) by Type (2018-2022)

8.4.3 Asia Pacific Home Emergency Insurance Services Revenue (USD Million) by Applications (2018-2022)

8.5 South America Home Emergency Insurance Services Revenue (USD Million), by Type, and Applications (2018-2022)

8.5.1 South America Home Emergency Insurance Services Revenue (USD Million), by Country (2018-2022)

8.5.2 South America Home Emergency Insurance Services Revenue (USD Million) by Type (2018-2022)

8.5.3 South America Home Emergency Insurance Services Revenue (USD Million) by Applications (2018-2022)

8.6 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2022)

8.6.1 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million) by Country (2018-2022)

8.6.2 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million) by Type (2018-2022)

8.6.3 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million) by Applications (2018-2022)

 

9 Company Profiles

 

10 Global Home Emergency Insurance Services Market Revenue (USD Million), by Type, and Applications (2023-2030)

10.1 Global Home Emergency Insurance Services Revenue (USD Million) and Market Share (%) by Type (2023-2030)

10.1.1 Global Home Emergency Insurance Services Revenue (USD Million), and Market Share (%) by Type (2023-2030)

10.2 Global Home Emergency Insurance Services Revenue (USD Million) and Market Share (%) by Applications (2023-2030)

10.2.1 Global Home Emergency Insurance Services Revenue (USD Million), and Market Share (%) by Applications (2023-2030)

 

11 Global Home Emergency Insurance Services Development Regional Status and Outlook Forecast

11.1 Global Home Emergency Insurance Services Revenue (USD Million) By Regions (2023-2030)

11.2 North America Home Emergency Insurance Services Revenue (USD Million) by Type, and Applications (2023-2030)

11.2.1 North America Home Emergency Insurance Services Revenue (USD) Million by Country (2023-2030)

11.2.2 North America Home Emergency Insurance Services Revenue (USD Million), by Type (2023-2030)

11.2.3 North America Home Emergency Insurance Services Revenue (USD Million), Market Share (%) by Applications (2023-2030)

11.3 Europe Home Emergency Insurance Services Revenue (USD Million), by Type, and Applications (2023-2030)

11.3.1 Europe Home Emergency Insurance Services Revenue (USD Million), by Country (2023-2030)

11.3.2 Europe Home Emergency Insurance Services Revenue (USD Million), by Type (2023-2030)

11.3.3 Europe Home Emergency Insurance Services Revenue (USD Million), by Applications (2023-2030)

11.4 Asia Pacific Home Emergency Insurance Services Revenue (USD Million) by Type, and Applications (2023-2030)

11.4.1 Asia Pacific Home Emergency Insurance Services Revenue (USD Million), by Country (2023-2030)

11.4.2 Asia Pacific Home Emergency Insurance Services Revenue (USD Million), by Type (2023-2030)

11.4.3 Asia Pacific Home Emergency Insurance Services Revenue (USD Million), by Applications (2023-2030)

11.5 South America Home Emergency Insurance Services Revenue (USD Million), by Type, and Applications (2023-2030)

11.5.1 South America Home Emergency Insurance Services Revenue (USD Million), by Country (2023-2030)

11.5.2 South America Home Emergency Insurance Services Revenue (USD Million), by Type (2023-2030)

11.5.3 South America Home Emergency Insurance Services Revenue (USD Million), by Applications (2023-2030)

11.6 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million), by Type, and Applications (2023-2030)

11.6.1 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million), by region (2023-2030)

11.6.2 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million), by Type (2023-2030)

11.6.3 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million), by Applications (2023-2030)

 

12 Methodology and Data Sources

12.1 Methodology/Research Approach

12.1.1 Research Programs/Design

12.1.2 Market Size Estimation

12.1.3 Market Breakdown and Data Triangulation

12.2 Data Sources

12.2.1 Secondary Sources

12.2.2 Primary Sources

12.3 Disclaimer

 

List of Tables

Table 1 Market Segmentation Analysis

Table 2 Global Home Emergency Insurance Services Market Companies with Areas Served

Table 3 Products Offerings Global Home Emergency Insurance Services Market

Table 4 Low Growth Scenario Forecasts

Table 5 Reference Case Growth Scenario

Table 6 High Growth Case Scenario

Table 7 Global Home Emergency Insurance Services Revenue (USD Million) And CAGR (%) By Type (2018-2030)

Table 8 Global Home Emergency Insurance Services Revenue (USD Million) And CAGR (%) By Applications (2018-2030)

Table 9 Global Home Emergency Insurance Services Revenue (USD Million) And CAGR (%) By Regions (2018-2030)

Table 10 Global Home Emergency Insurance Services Revenue (USD Million) By Type (2018-2022)

Table 11 Global Home Emergency Insurance Services Revenue Market Share (%) By Type (2018-2022)

Table 12 Global Home Emergency Insurance Services Revenue (USD Million) By Applications (2018-2022)

Table 13 Global Home Emergency Insurance Services Revenue Market Share (%) By Applications (2018-2022)

Table 14 Global Home Emergency Insurance Services Market Revenue (USD Million) By Regions (2018-2022)

Table 15 Global Home Emergency Insurance Services Market Share (%) By Regions (2018-2022)

Table 16 North America Home Emergency Insurance Services Revenue (USD Million) By Country (2018-2022)

Table 17 North America Home Emergency Insurance Services Revenue (USD Million) By Type (2018-2022)

Table 18 North America Home Emergency Insurance Services Revenue (USD Million) By Applications (2018-2022)

Table 19 Europe Home Emergency Insurance Services Revenue (USD Million) By Country (2018-2022)

Table 20 Europe Home Emergency Insurance Services Revenue (USD Million) By Type (2018-2022)

Table 21 Europe Home Emergency Insurance Services Revenue (USD Million) By Applications (2018-2022)

Table 22 Asia Pacific Home Emergency Insurance Services Revenue (USD Million) By Country (2018-2022)

Table 23 Asia Pacific Home Emergency Insurance Services Revenue (USD Million) By Type (2018-2022)

Table 24 Asia Pacific Home Emergency Insurance Services Revenue (USD Million) By Applications (2018-2022)

Table 25 South America Home Emergency Insurance Services Revenue (USD Million) By Country (2018-2022)

Table 26 South America Home Emergency Insurance Services Revenue (USD Million) By Type (2018-2022)

Table 27 South America Home Emergency Insurance Services Revenue (USD Million) By Applications (2018-2022)

Table 28 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million) By Region (2018-2022)

Table 29 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million) By Type (2018-2022)

Table 30 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million) By Applications (2018-2022)

Table 31 Financial Analysis

Table 32 Global Home Emergency Insurance Services Revenue (USD Million) By Type (2023-2030)

Table 33 Global Home Emergency Insurance Services Revenue Market Share (%) By Type (2023-2030)

Table 34 Global Home Emergency Insurance Services Revenue (USD Million) By Applications (2023-2030)

Table 35 Global Home Emergency Insurance Services Revenue Market Share (%) By Applications (2023-2030)

Table 36 Global Home Emergency Insurance Services Market Revenue (USD Million), And Revenue (USD Million) By Regions (2023-2030)

Table 37 North America Home Emergency Insurance Services Revenue (USD)By Country (2023-2030)

Table 38 North America Home Emergency Insurance Services Revenue (USD Million) By Type (2023-2030)

Table 39 North America Home Emergency Insurance Services Revenue (USD Million) By Applications (2023-2030)

Table 40 Europe Home Emergency Insurance Services Revenue (USD Million) By Country (2023-2030)

Table 41 Europe Home Emergency Insurance Services Revenue (USD Million) By Type (2023-2030)

Table 42 Europe Home Emergency Insurance Services Revenue (USD Million) By Applications (2023-2030)

Table 43 Asia Pacific Home Emergency Insurance Services Revenue (USD Million) By Country (2023-2030)

Table 44 Asia Pacific Home Emergency Insurance Services Revenue (USD Million) By Type (2023-2030)

Table 45 Asia Pacific Home Emergency Insurance Services Revenue (USD Million) By Applications (2023-2030)

Table 46 South America Home Emergency Insurance Services Revenue (USD Million) By Country (2023-2030)

Table 47 South America Home Emergency Insurance Services Revenue (USD Million) By Type (2023-2030)

Table 48 South America Home Emergency Insurance Services Revenue (USD Million) By Applications (2023-2030)

Table 49 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million) By Region (2023-2030)

Table 50 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million) By Region (2023-2030)

Table 51 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million) By Type (2023-2030)

Table 52 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million) By Applications (2023-2030)

Table 53 Research Programs/Design for This Report

Table 54 Key Data Information from Secondary Sources

Table 55 Key Data Information from Primary Sources

 

List of Figures

Figure 1 Market Scope

Figure 2 Porter’s Five Forces

Figure 3 Global Home Emergency Insurance Services Revenue (USD Million) By Type (2018-2022)

Figure 4 Global Home Emergency Insurance Services Revenue Market Share (%) By Type (2022)

Figure 5 Global Home Emergency Insurance Services Revenue (USD Million) By Applications (2018-2022)

Figure 6 Global Home Emergency Insurance Services Revenue Market Share (%) By Applications (2022)

Figure 7 Global Home Emergency Insurance Services Market Revenue (USD Million) By Regions (2018-2022)

Figure 8 Global Home Emergency Insurance Services Market Share (%) By Regions (2022)

Figure 9 North America Home Emergency Insurance Services Revenue (USD Million) By Country (2018-2022)

Figure 10 North America Home Emergency Insurance Services Revenue (USD Million) By Type (2018-2022)

Figure 11 North America Home Emergency Insurance Services Revenue (USD Million) By Applications (2018-2022)

Figure 12 Europe Home Emergency Insurance Services Revenue (USD Million) By Country (2018-2022)

Figure 13 Europe Home Emergency Insurance Services Revenue (USD Million) By Type (2018-2022)

Figure 14 Europe Home Emergency Insurance Services Revenue (USD Million) By Applications (2018-2022)

Figure 15 Asia Pacific Home Emergency Insurance Services Revenue (USD Million) By Country (2018-2022)

Figure 16 Asia Pacific Home Emergency Insurance Services Revenue (USD Million) By Type (2018-2022)

Figure 17 Asia Pacific Home Emergency Insurance Services Revenue (USD Million) By Applications (2018-2022)

Figure 18 South America Home Emergency Insurance Services Revenue (USD Million) By Country (2018-2022)

Figure 19 South America Home Emergency Insurance Services Revenue (USD Million) By Type (2018-2022)

Figure 20 South America Home Emergency Insurance Services Revenue (USD Million) By Applications (2018-2022)

Figure 21 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million) By Region (2018-2022)

Figure 22 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million) By Type (2018-2022)

Figure 23 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million) By Applications (2018-2022)

Figure 24 Global Home Emergency Insurance Services Revenue (USD Million) By Type (2023-2030)

Figure 25 Global Home Emergency Insurance Services Revenue Market Share (%) By Type (2030)

Figure 26 Global Home Emergency Insurance Services Revenue (USD Million) By Applications (2023-2030)

Figure 27 Global Home Emergency Insurance Services Revenue Market Share (%) By Applications (2030)

Figure 28 Global Home Emergency Insurance Services Market Revenue (USD Million) By Regions (2023-2030)

Figure 29 North America Home Emergency Insurance Services Revenue (USD Million) By Country (2023-2030)

Figure 30 North America Home Emergency Insurance Services Revenue (USD Million) By Type (2023-2030)

Figure 31 North America Home Emergency Insurance Services Revenue (USD Million) By Applications (2023-2030)

Figure 32 Europe Home Emergency Insurance Services Revenue (USD Million) By Country (2023-2030)

Figure 33 Europe Home Emergency Insurance Services Revenue (USD Million) By Type (2023-2030)

Figure 34 Europe Home Emergency Insurance Services Revenue (USD Million) By Applications (2023-2030)

Figure 35 Asia Pacific Home Emergency Insurance Services Revenue (USD Million) By Country (2023-2030)

Figure 36 Asia Pacific Home Emergency Insurance Services Revenue (USD Million) By Type (2023-2030)

Figure 37 Asia Pacific Home Emergency Insurance Services Revenue (USD Million) By Applications (2023-2030)

Figure 38 South America Home Emergency Insurance Services Revenue (USD Million) By Country (2023-2030)

Figure 39 South America Home Emergency Insurance Services Revenue (USD Million) By Type (2023-2030)

Figure 40 South America Home Emergency Insurance Services Revenue (USD Million) By Applications (2023-2030)

Figure 41 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million) By Region (2023-2030)

Figure 42 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million) By Region (2023-2030)

Figure 43 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million) By Type (2023-2030)

Figure 44 Middle East and Africa Home Emergency Insurance Services Revenue (USD Million) By Applications (2023-2030)

Figure 45 Bottom-Up and Top-Down Approaches for This Report

Figure 46 Data Triangulation

 

Home Emergency Insurance Services Market Segmentation

By Type

• Stand-alone
• Bundled with Home Insurance
• Bundled with Energy Provider

By Application

• Landlords/Home Owners
• Tenants
• Boiler/ Central Heating

By Cover Type

• Installation
• Maintenance
• Repair

By Premium Type

• Monthly
• Quarterly
• Annual

By Region

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)