Home Insurance Market Report 2026

The home insurance market size has grown strongly in recent years. It will grow from $311.73 billion in 2025 to $336.14 billion in 2026 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to rising home ownership rates, increasing awareness of property risk protection, growth in urban housing developments, expansion of mortgage-linked insurance adoption, availability of standardized insurance products.

The home insurance market size is expected to see strong growth in the next few years. It will grow to $467.72 billion in 2030 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to increasing integration of smart home data, rising demand for instant policy issuance, expansion of climate risk-adjusted premiums, growing adoption of digital claims processing, increasing competition among insurance providers. Major trends in the forecast period include increasing adoption of digital policy management platforms, rising use of data-driven risk assessment models, growing demand for personalized home insurance products, expansion of usage-based and smart home insurance, enhanced focus on fraud detection and claims automation.

The anticipated growth in the number of households is set to drive the expansion of the home insurance market. A household refers to a family or a group of people residing together. Home insurance offers comprehensive protection against various risks for people's homes, other residential structures, and their possessions. According to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, in June 2023, the number of privately owned home completions on a seasonally adjusted yearly basis was 1,518,000, reflecting a 5% increase from 1,446,000 in May 2022. Additionally, in May 2023, privately owned home starts occurred at a seasonally adjusted annual pace of 1,631,000, marking a 21.7% increase from 1,543,000 in May 2022. Thus, the rising number of households is a key driver behind the growth of the home insurance market.

Major companies operating in the home insurance market are concentrating on integrating advanced technologies, such as AI-powered virtual assistants, to enhance property risk assessment, elevate customer experience, and reinforce their market position. AI-powered assistants utilize natural language processing and machine learning to process large volumes of property data, generate real-time insights, and offer personalized guidance, unlike traditional insurance tools that depend on static reports and manual evaluations. For example, in July 2023, Tensorflight, a US-based software company, introduced TensorAssist, an AI-powered chatbot assistant developed using OpenAI’s ChatGPT-4 technology. TensorAssist assists Tensorflight’s commercial property insurance clients in quickly understanding the platform’s wide range of property intelligence data points. The assistant is tailored for the property insurance sector, offering detailed analysis, expert insights, and guidance on property-related risks. Its applications include property evaluation, risk advisory, and portfolio analysis, while the benefits include faster decision-making, improved risk management, enhanced user experience, and expert-level insights at scale.

In February 2023, Slide Insurance, a U.S.-based insurance company, acquired the renewal rights to over 91,400 Florida homeowners' insurance policies from UPC Insurance for an undisclosed amount. This strategic acquisition has elevated Slide's in-force premium to a total value of $560 million. Most of the policies will be canceled by UPC, and Slide will promptly issue new policies using UPC's forms and pricing. UPC Insurance is a U.S.-based insurance company offering home insurance, property and casualty insurance, and other insurance types.

Major companies operating in the home insurance market are MetLife Inc., American International Group Inc., Allstate Insurance Company, Liberty Mutual Insurance, The Progressive Corporation, State Farm Mutual Automobile Insurance Company, Chubb Group of Insurance Companies, Zurich Insurance Group Ltd., Travelers Property Casualty Corp, The United Services Automobile Association, The Hartford Financial Services Group Inc., Allianz SE, American Family Insurance, Kemper Corporation, The Hanover Insurance Group Inc., Admiral Group plc, Mercury General Corporation, Erie Insurance Group, Amica Mutual Insurance, Shelter Insurance Company, Safeco Insurance, Tokio Marine Insurance Group, National Insurance Company Limited, Cholamandalam MS General Insurance Company Ltd., Farmers Insurance Co Inc., IFFCO Tokio General Insurance Company Ltd.

North America was the largest region in the home insurance market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the home insurance market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the home insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The home insurance market includes revenues earned by entities through safety, property protection, and damage expenses. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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