New Jersey, USA — (SBWIRE) — 08/14/2022 — The latest released RV Insurance market study has assessed the future growth potential of the RV Insurance market and provides useful insights and statistics on the structure and the size of the market. The report aims to provide market intelligence and strategic insights to help decision makers make sound investment decisions and identify potential gaps and growth opportunities. Furthermore, the report also identifies and analyzes the changing dynamics, emerging trends along with essential drivers, challenges, opportunities, and restraints in the RV Insurance market. The study includes market share analysis and agent profiles such as Intact Insurance (Canada), Western Financial Group (Canada), Aviva plc (UK), Farmers Insurance (US), USAA (US), GEICO ( United States), MetLife (United States), Liberty Mutual (United States), State Farm (United States), Shelter Insurance (United States).
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Definition:
RV sales in Canada are booming, with retail sales recording C$8.88 billion ($6.73 billion) in fiscal year 2019. As such, the demand for RV insurance is also on the rise with an increase in accidents and injuries. RV insurance offers coverage such as bodily injury and property damage liability, uninsured motorist, personal injury protection, limited property damage, property protection, comprehensive, and RV collision. Over the next few years, the market is expected to grow at a rapid pace. There are several international players operating in the market.
Market Drivers:
Due to urbanization and high disposable income, people are buying recreational vehicles
Increase in the number of recreational vehicle sales across Canada
Mandatory insurance requirement that fuels the demand
Market trends:
A trend towards purchasing policies online
Market opportunities:
Growing VR sales are expected to open up lucrative opportunities for the market
The segments of the global recreational vehicle insurance market and the breakdown of the market data are highlighted below:
by type (financed motorhomes, rental motorhomes), application (towable motorhomes, no-loan motorhomes), type of coverage (bodily and material liability, uninsured motorist, personal injury protection (PIP), limited property damage, property protection, comprehensive, Collision), distribution channel (direct sales, indirect sales (agents, brokers, others)), vehicle type (all-terrain vehicles, dune buggies, golf carts, mini bikes, motorhomes, RV trailers, snowmobiles, other)
The Global Recreational Vehicle Insurance Market report highlights information on current and future industry trends, growth patterns, as well as offers business strategies to assist stakeholders in making informed decisions that can help secure the trajectory of profits during the expected years.
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Market leaders and their expansive development strategies
On March 28, 2019, Outdoorsy, the world’s fastest growing RV rental and outdoor experience marketplace, announced its new partnership with Liberty Mutual. This partnership includes three levels of RV rental insurance that allow both owners and renters to travel safely across the United States and Canada in RVs, RVs, RVs, travel trailers, and adventure vehicles. Since launching with the partnership on March 1, Outdoorsy has seen a 250% increase in online bookings when Liberty Insurance is included.
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions:
Middle East and Africa (South Africa, Saudi Arabia, United Arab Emirates, Israel, Egypt, etc.)
North America (United States, Mexico and Canada)
South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
Europe (Turkey, Spain, Turkey, Netherlands, Denmark, Belgium, Switzerland, Germany, Russia, UK, Italy, France, etc.)
Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia and Australia).
Objectives of the report
-To accurately analyze and forecast the Recreational Vehicle Insurance market size by value and volume.
– Estimate the market shares of the main segments of recreational vehicle insurance
-Show the development of the recreational vehicle insurance market in different parts of the world.
-To analyze and study the micro markets with respect to their contribution to the recreational vehicle insurance market, their prospects and individual growth trends.
-Provide accurate and useful details on the factors affecting the growth of recreational vehicle insurance
-Provide a meticulous assessment of the crucial business strategies used by the leading companies operating in the recreational vehicle insurance market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches .
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Main highlights of the table of contents:
RV Insurance Market Study Coverage:
It includes leading manufacturers, growth history of emerging players, and major business segments of RV Insurance market, years considered and research objectives. In addition, segmentation based on product type, application and technology.
Executive Summary of Recreational Vehicle Insurance Market: Provides a summary of the general studies, growth rate, available market, competitive landscape, market drivers, trends and issues, and macro indicators.
Recreational Vehicle Insurance Market Production by Region Recreational Vehicle Insurance Market Profile of manufacturers, players are studied on SWOT, their products, production, value, financials and others vital factors
Key Points Covered in the RV Insurance Market Report:
Overview, Definition and Classification of Recreational Vehicle Insurance Market Drivers and Barriers
Recreational Vehicle Insurance Market Competition by Manufacturers
Analysis of the impact of COVID-19 on the recreational vehicle insurance market
Recreational Vehicle Insurance Capacity, Production, Revenue (Value) by Region (2021-2027)
Recreational Vehicle Insurance Supply (Production), Consumption, Export, Import by Region (2021-2027)
Recreational Vehicle Insurance Production, Revenue (Value), Price Trend by Type {Recreational Vehicles Financed, Rental RVs}
Recreational Vehicle Insurance Market Analysis by Application {Towable Vehicles, Non-Loan RV}
Recreational Vehicle Insurance Manufacturers Profiles/Analysis Recreational Vehicle Insurance Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
Strategy by Key Manufacturers/Players, Distributors/Traders Connected Standardization, Regulatory and Collaborative Initiatives, Industry Roadmap and Value Chain Market Effect Factors Analysis.
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Key questions answered
How viable is the recreational vehicle insurance market for long-term investment?
What factors influence the demand for recreational vehicle insurance in the near future?
What is the impact analysis of various factors in the growth of the global recreational vehicle insurance market?
What are the recent trends in the regional market and how successful are they?
Thanks for reading this article; you can also get a report version for individual chapter sections or region such as North America, Middle East, Africa, Europe or LATAM, Southeast Asia.
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Contact with the media
Nidhi Bhawsar PR and Marketing Manager
AMA Research & Media LLP
Telephone: 2063171218
E-mail: Click to email Nidhi Bhawsar
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