$144.0bn
$XX.Xbn
109k
612
$XX.Xbn
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.
Industry revenue has grown at a CAGR of 2.3 % over the past five years, to reach an estimated $144.0bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
State Farm Mutual Automobile Insurance Co | 18,867.4 | 2,485.2 | 13.2 | |
Allstate Corp | 9,202.1 | 822.1 | 8.9 | |
USAA Savings Bank | 7,351.8 | 937.9 | 12.8 |
To view the market share and analysis for all 7 top companies in this industry, view purchase options.
Industry revenue is measured across several distinct product and services lines, including HO-3, HO-5 and HO-2. HO-3 is the largest segment of the Homeowners' Insurance in the US.
HO-3 coverage is stable and is the largest product segment
This industry includes insurers that underwrite (e.g. assume and manage risk) homeowners’ insurance policies. Homeowners’ insurance protects households against property damage or losses due to catastrophic disasters, theft and other causes. These policies also protect against personal liability that may result from bodily injury that occurs on one’s property.
Purchase this report to view all 7 major companies in this industry.
NAICS 52412 - Homeowners' Insurance in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Positive economic trends have contributed to revenue growth. Increases in housing starts and disposable income have been critical drivers for operators.
Learn about an industry's products and services, markets and trends in international trade.
The HO-5 coverage segment expanded, partially because of improving household income. Demand for this segment is stable but policyholders in this segment typically have high d...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Larger and more populous states typically have a greater number of total establishments compared with smaller states. However, densely populated regions require fewer establi...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Insurers compete primarily on price. Industry products are similar in the industry and consumers typically purchase less expensive products when available.
Learn about the performance of the top companies in the industry.
Large operators benefit from being well-established. These operators provide various insurance products, including homeowners’ insurance.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Government organizations regulate the industry. These organizations assist state insurers in establishing standards and coordinating regulatory oversight.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Wage expenses have dipped but are still a major expense for operators. The industry relies on skilled labor to build positive customer relationships while providing excellent...
Including values and annual change:
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Unlock comprehensive answers and precise data upon purchase. View purchase options.
The market size of the Homeowners' Insurance in the US industry in United States is $144.0bn in 2024.
There are 612 businesses in the Homeowners' Insurance in the US industry in United States, which has grown at a CAGR of 1.7 % between 2019 and 2024.
The market size of the Homeowners' Insurance in the US industry in United States has been growing at a CAGR of 2.3 % between 2019 and 2024.
Over the next five years, the Homeowners' Insurance in the US industry in United States is expected to grow.
The biggest companies operating in the Homeowners' Insurance market in United States are State Farm Mutual Automobile Insurance Co, Allstate Corp and USAA Savings Bank
Assuming and managing property damage risks due to losses from catastrophic weather, fire, theft and other causes and Assuming and managing household personal and legal liabilities from bodily injury and property damage are part of the Homeowners' Insurance in the US industry.
The company holding the most market share in United States is State Farm Mutual Automobile Insurance Co.
The level of competition is high and steady in the Homeowners' Insurance in the US industry in United States.