Vehicle Insurance Market size is expected to be worth around USD 1,949.9 Billion
The Global Vehicle Insurance Market size is expected to be worth around USD 1,949.9 Billion By 2034, from USD 911.6 billion in 2024, growing at a CAGR of 7.9% during the forecast period from 2025 to 2034. In 2024, North America held a dominant market position, capturing more than a 34.9% share, holding USD 318.14 Billion revenue. The vehicle insurance market is a major segment of the global insurance industry, providing protection against financial losses due to accidents, theft, and third-party liabilities. The market’s growth is primarily driven by the increasing number of vehicles on the road, strict government regulations mandating vehicle insurance, and growing consumer awareness about financial security. Insurers are continuously developing new products and improving claim processes to offer more personalized and affordable policies. The rise of electric vehicles (EVs), digita...