PUBLISHER: Allied Market Research | PRODUCT CODE: 1140115
PUBLISHER: Allied Market Research | PRODUCT CODE: 1140115
Horse insurance offers protection in the event that a horse suffers an illness or passes away, is no longer able to be employed for work, or causes someone harm or property damage. Moreover, if a horse causes harm to someone or damages their property, the horse company can be held liable. A stable, barn, or piece of equipment that is destroyed by fire or another hazard can also result in a loss for the company. Horse enterprises that purchase specialist equine/horse insurance can safeguard themselves against these unforeseen losses.
Increase in adoption of horse insurance to cover unexpected veterinary expenses, vaccinations and other routine care is driving the growth of the market. In addition, consistent improvement in the horse insurance plans with additional benefits is propelling the growth of the market. However, lack of awareness among customers and high premiums for horse insurance are some factors that hamper the market growth. On the contrary, adoption of advanced technologies in insurance product lines is expected to boost the growth of the market in upcoming years. Moreover, increase in government initiatives for horse insurance is expected to provide lucrative opportunity for the market in upcoming years.
The horse insurance market is segmented into type, horse type, application, sales channel, and region. By type, the market is differentiated into mortality, major medical & surgical, loss of use, liability and others. Depending on horse type, it is fragmented into American quarter horse, Arabian, thoroughbred, Morgan, appaloosa and others. The application segment is divided into recreational and commercial. The recreational segment is further segregated into riding, racing, grooming/showing and others. The riding segment is further divided into leisure riding and competitive riding. The sales channel is differentiated into broker, agency, direct response and other. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The horse insurance market analysis includes top companies operating in the market such as Animal Friends Insurance Services Limited, ASPCA, AXA, Broadstone Equine Insurance Agency, De Wet De Villiers Brokers, Harry Hall International Ltd, Hollard, Markel Corporation, Nationwide Mutual Insurance Company, One Insurance Group, Pet Assure Corp., Pet Plan Limited, Quotezone.co.uk, The Insurance Emporium, Consumer Agent Portal, LLC., Great American Insurance Company, and Edgewood Partners Insurance Center. These players have adopted various strategies to increase their market penetration and strengthen their position in the horse insurance industry.
Key Benefits For Stakeholders
Key Market Segments
By Type
By Horse Type
By Application
By Sales Channel
By Region