PUBLISHER: Azoth Analytics | PRODUCT CODE: 1446329
PUBLISHER: Azoth Analytics | PRODUCT CODE: 1446329
Azoth Analytics has released a research report titled "Global Classic Car Insurance Market (2024 Edition)" which provides a complete analysis of the Global Classic Car Insurance industry in terms of market segmentation By Vehicle Type (Vintage, and Classic), By Ownership Status (Individual Owners, Collectors/Enthusiast Clubs, and Dealerships/Auction Houses), By Channel (Direct Sales, Agents/Brokers, and Online Platforms) for the historical period of 2019-2022, the estimates of 2023 and the forecast period of 2024-2029.
The report analyses the Classic Car Insurance Market by Region (North America, Europe, and Rest of World) and 6 Countries (United States, Canada, Germany, United Kingdom, France, and Italy). The Global Classic Car Insurance market showcased growth at a CAGR of 7.11% during 2019-2022. The market was valued at USD 30.97 Billion in Gross Written Premiums 2022 which is expected to reach USD 51.92 Billion in Gross Written Premiums in 2029. The appreciation of classic car values over time has driven demand for insurance coverage that adequately protects the significant investments made by collectors. As classic cars become more valuable, owners are willing to pay premiums for comprehensive insurance coverage.
The classic car insurance market operates within a niche segment of the broader insurance industry, catering specifically to the unique needs of vintage and collectible automobile owners. This market thrives on several key factors. Firstly, the growing interest in classic cars as investments and collectibles has expanded the customer base, driving demand for specialized insurance coverage. As more individuals acquire classic cars, insurers have identified an opportunity to offer tailored policies that provide comprehensive protection for these valuable assets. Additionally, the rising values of classic cars have underscored the importance of insurance coverage that accurately reflects the vehicles' worth and provides sufficient compensation in the event of damage, theft, or loss. Insurers have responded by offering policies with agreed value coverage and other features designed to address the specific risks associated with classic car ownership.
Moreover, regulatory requirements in many jurisdictions mandate insurance coverage for classic cars, further fueling market growth. Classic car owners are compelled to seek out insurance policies that comply with local laws while providing adequate protection for their vehicles. This regulatory environment creates a steady demand for classic car insurance products. Furthermore, advancements in technology and data analytics have enabled insurers to better assess risk and tailor coverage options to individual customers' needs. This has enhanced the competitiveness and sophistication of classic car insurance offerings, attracting more customers to the market.
Table of Content
List of Tables
Table A1: Global Impact of Macro Economic Factors, By Region
Table A2: Comparison of Classic Car and Daily Driver Insurance Features
Table A3: Sellers and Buyer Commissions for Live Auctions
Table A4: United States Classic Car Insurance Market, By Vehicle Type, By Value, 2019-2022 (USD Billion)
Table A5: United States Classic Car Insurance Market, By Vehicle Type, By Value, 2023-2029 (USD Billion)
Table A6: United States Classic Car Insurance Market, By Ownership Status, By Value, 2019-2022 (USD Billion)
Table A7: United States Classic Car Insurance Market, By Ownership Status, By Value, 2023-2029 (USD Billion)
Table A8: United States Classic Car Insurance Market, By Channel, By Value, 2019-2022 (USD Billion)
Table A9: United States Classic Car Insurance Market, By Channel, By Value, 2023-2029 (USD Billion)
Table A10: Canada Classic Car Insurance Market, By Vehicle Type, By Value, 2019-2022 (USD Billion)
Table A11: Canada Classic Car Insurance Market, By Vehicle Type, By Value, 2023-2029 (USD Billion)
Table A12: Canada Classic Car Insurance Market, By Ownership Status, By Value, 2019-2022 (USD Billion)
Table A13: Canada Classic Car Insurance Market, By Ownership Status, By Value, 2023-2029 (USD Billion)
Table A14: Canada Classic Car Insurance Market, By Channel, By Value, 2019-2022 (USD Billion)
Table A15: Canada Classic Car Insurance Market, By Channel, By Value, 2023-2029 (USD Billion)
Table A16: United Kingdom Classic Car Insurance Market, By Vehicle Type, By Value, 2019-2022 (USD Billion)
Table A17: United Kingdom Classic Car Insurance Market, By Vehicle Type, By Value, 2023-2029 (USD Billion)
Table A18: United Kingdom Classic Car Insurance Market, By Ownership Status, By Value, 2019-2022 (USD Billion)
Table A19: United Kingdom Classic Car Insurance Market, By Ownership Status, By Value, 2023-2029 (USD Billion)
Table A20: United Kingdom Classic Car Insurance Market, By Channel, By Value, 2019-2022 (USD Billion)
Table A21: United Kingdom Classic Car Insurance Market, By Channel, By Value, 2023-2029 (USD Billion)
Table A22: Germany Classic Car Insurance Market, By Vehicle Type, By Value, 2019-2022 (USD Billion)
Table A23: Germany Classic Car Insurance Market, By Vehicle Type, By Value, 2023-2029 (USD Billion)
Table A24: Germany Classic Car Insurance Market, By Ownership Status, By Value, 2019-2022 (USD Billion)
Table A25: Germany Classic Car Insurance Market, By Ownership Status, By Value, 2023-2029 (USD Billion)
Table A26: Germany Classic Car Insurance Market, By Channel, By Value, 2019-2022 (USD Billion)
Table A27: Germany Classic Car Insurance Market, By Channel, By Value, 2023-2029 (USD Billion)
Table A28: France Classic Car Insurance Market, By Vehicle Type, By Value, 2019-2022 (USD Billion)
Table A29: France Classic Car Insurance Market, By Vehicle Type, By Value, 2023-2029 (USD Billion)
Table A30: France Classic Car Insurance Market, By Ownership Status, By Value, 2019-2022 (USD Billion)
Table A31: France Classic Car Insurance Market, By Ownership Status, By Value, 2023-2029 (USD Billion)
Table A32: France Classic Car Insurance Market, By Channel, By Value, 2019-2022 (USD Billion)
Table A33: France Classic Car Insurance Market, By Channel, By Value, 2023-2029 (USD Billion)
Table A34: Italy Classic Car Insurance Market, By Vehicle Type, By Value, 2019-2022 (USD Billion)
Table A35: Italy Classic Car Insurance Market, By Vehicle Type, By Value, 2023-2029 (USD Billion)
Table A36: Italy Classic Car Insurance Market, By Ownership Status, By Value, 2019-2022 (USD Billion)
Table A37: Italy Classic Car Insurance Market, By Ownership Status, By Value, 2023-2029 (USD Billion)
Table A38: Italy Classic Car Insurance Market, By Channel, By Value, 2019-2022 (USD Billion)
Table A39: Italy Classic Car Insurance Market, By Channel, By Value, 2023-2029 (USD Billion)
Table A40: Rest of Europe Classic Car Insurance Market, By Vehicle Type, By Value, 2019-2022 (USD Billion)
Table A41: Rest of Europe Classic Car Insurance Market, By Vehicle Type, By Value, 2023-2029 (USD Billion)
Table A42: Rest of Europe Classic Car Insurance Market, By Ownership Status, By Value, 2019-2022 (USD Billion)
Table A43: Rest of Europe Classic Car Insurance Market, By Ownership Status, By Value, 2023-2029 (USD Billion)
Table A44: Rest of Europe Classic Car Insurance Market, By Channel, By Value, 2019-2022 (USD Billion)
Table A45: Rest of Europe Classic Car Insurance Market, By Channel, By Value, 2023-2029 (USD Billion)
Table A46: Hagerty Key Company Financials, 2020-2022
Table A47: Hiscox Key Company Financials, 2020-2022
Table A48: The Progressive Corporation Key Company Financials, 2020-2022
Table A49: Allstate Key Company Financials, 2020-2022