What is Condo Insurance?
Condo insurance is a policy scheme purchased for the condo unit which helps in paying the repair and recovering the cost of the damage done belonging, and appliances used in the condo due to theft, vandalism, or fire. This insurance merges various personal insurance coverage including the thefts, liability, accidents within the policy requirements, and its policy schemes include a bare walls-in, all-inclusive, single entity.
The market study is broken down, by Application (Personal and Commercial) and major geographies with country level break-up.
Desjardins General Insurance Group (Canada), Farmers Insurance Group (Zurich Insurance Group) (United States), Wawanesa Mutual Insurance Company (Canada), Aviva plc (United Kingdom), Co-operators General Insurance Company (Canada), TD Insurance (Canada), Liberty Mutual Group (United States), Lemonade Insurance Company (United States), State Farm (United States) and Erie Insurance (United States) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Condo Insurance market by Type, Application and Region.
On the basis of geography, the market of Condo Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Policy, the sub-segment i.e. Bare Walls-in will boost the Condo Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Condo, the sub-segment i.e. Standard Condominium will boost the Condo Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Coverage, the sub-segment i.e. Dwelling Coverage will boost the Condo Insurance market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
On 20th July 2020, Farmers Insurance, one of the nation's leading multiline insurer groups, announced the availability of customizable auto, home, condo, and renters policies in Kentucky. Consumers throughout the state will now be able to obtain quotes for Farmers auto and homeowners insurance in as little as two minutes.
- Emerging New Policy Schemes for the Condo Insurance
- Rising Number of Accidents Like Fire, Theft, and Vandalism Requires the Insurance Coverage
- Need for Cost Coverage for the Overall Property
- Surging Investment Towards the Costly Property Items and Appliances will Boost the Condo Insurance Market
- Rising Cost of Premiums in the Condo Insurance
- Lack of Privacy Associated with Condo Insurance
- Presence of Large Number of Mediators for the Condo Insurance Leading to the Fraudulent Activities
Key Target AudienceCondo Insurance Providers, Condo Insurance Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
About ApproachDuring this study the evaluation and validation of the market size is done through various sources including primary and secondary analysis. AMA Research & Media follows industrial and regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
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