Global Multi-Car Insurance Market 2023-2030

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    A multi-car insurance policy simply means that the policyholder has coverage for two or more automobiles. They can include all of their vehicles, which they store at the same address, in their policy if they have more than one. However, an actual garage is not necessary.


    Some insurance companies may stipulate that they must be “garaged” at the same address.Up to five vehicles may be covered by the multi-vehicle policy, which is a coverage plan based on the sum insured.


    The inconvenience of paying several premiums and remembering when multiple vehicle insurance policies need to be renewed is removed by a motor floater policy. 




    infographic: Multi-Car Insurance Market, Multi-Car Insurance Market Size, Multi-Car Insurance Market Trends, Multi-Car Insurance Market Forecast, Multi-Car Insurance Market Risks, Multi-Car Insurance Market Report, Multi-Car Insurance Market Share


    The Global Multi-Car Insurance Market accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2023 to 2030.



    Currently, six insurers provide multi-year motor insurance policies. The new standard for two-wheeler vehicle insurance appears to be multi-year coverage.


    Six insurance companies, including ICICI Lombard, New India, HDFC Ergo, and Bajaj Allianz General, currently provide multi-year policies that are less expensive than annual-renewal plans. On own-damage insurance, insurers offer savings ranging from 2% to 6% for such plans.


    In addition to the convenience, multi-year vehicle plans will not be subject to annual price increases from the Insurance Regulatory and Development Authority of India, which typically range from 10% to 15%.


    Since many two-wheeler owners only purchase insurance while purchasing their vehicles, the regulator has been pushing for multi-year insurance contracts.


    According to Bajaj Allianz, the long-term two-wheeler insurance package coverage it introduced in April of this year has received a positive response. “They have sold approximately 7,000 insurance over the past six months. Due to the convenience of purchasing, the online channel has been the primary driver of sales in this market.


    60–70% of the cars involved in fatal road accidents are uninsured, according to data from the Union Ministry of Road Transport and Highways, which indicates that two-wheelers account for a significant percentage of these collisions.


    The long-term two-wheeler policy from ICICI Lombard, the first private insurer to offer multi-year motor coverage, was chosen by 5.14 subscribers



    • Shriram Car Insurance
    • United India Car Insurance
    • Universal Sompo Car Insurance
    • Tata AIG Car Insurance
    • HDFC ERGO 



    1. How many Multi-Car Insurance are manufactured per annum globally? Who are the sub-component suppliers in different regions?
    2. Cost breakup of a Global Multi-Car Insurance and key vendor selection criteria
    3. Where is the Multi-Car Insurance manufactured? What is the average margin per unit?
    4. Market share of Global Multi-Car Insurance market manufacturers and their upcoming products
    5. Cost advantage for OEMs who manufacture Global Multi-Car Insurance in-house
    6. key predictions for next 5 years in Global Multi-Car Insurance market
    7. Average B-2-B Multi-Car Insurance market price in all segments
    8. Latest trends in Multi-Car Insurance market, by every market segment
    9. The market size (both volume and value) of the Multi-Car Insurance market in 2023-2030 and every year in between?
    10. Production breakup of Multi-Car Insurance market, by suppliers and their OEM relationship


    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2023-2030
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2023-2030
    19 Market Segmentation, Dynamics and Forecast by Application, 2023-2030
    20 Market Segmentation, Dynamics and Forecast by End use, 2023-2030
    21 Product installation rate by OEM, 2023
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2023
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix
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