Europe Car Insurance Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The European Car Insurance Market Report is Segmented by Coverage (Third-Party Liability Coverage and Collision/Comprehensive/Other Optional Coverage), By Application (Personal Vehicles and Commercial Vehicles), By Distribution Channel (Direct Sales, Individual Agents, Brokers, Banks, Online, Other Distribution Channels), By Geography (Germany, Uk, France, Switzerland and Rest of Europe). The Report Offers Market Size and Forecasts for the Europe Car Insurance Market in Value (USD) for all the Above Segments.

Europe Car Insurance Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Europe Car Insurance Market Size

Europe Car Insurance Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Size (2025) USD 55.24 Billion
Market Size (2030) USD 67.63 Billion
CAGR (2025 - 2030) 4.13 %
Market Concentration Low

Major Players

Europe Car Insurance Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Europe Car Insurance Market with other markets in Financial Services and Investment Intelligence Industry

Insurance

Alternative Investments

Wealth Management

Fintech

Islamic Finance

Asset Management

Europe Car Insurance Market Analysis

The Europe Car Insurance Market size is estimated at USD 55.24 billion in 2025, and is expected to reach USD 67.63 billion by 2030, at a CAGR of 4.13% during the forecast period (2025-2030).

In Europe, people must ensure their car with third party liability while registering the car. This insurance coverage is valid in all European countries. Increasing consumer awareness of the benefits of car insurance as it offers financial protection increases the demand for the car insurance market in Europe.

The factors for the growth of the car insurance market in Europe are an increase in car accidents, strict government rules for purchasing car insurance, and an increase in car sales due to a rise in consumer per capita income. And also the incorporation of new advanced technology into products and services gave rise to third-party liability coverage to the cars.

The new technological advancements made by the European car insurance market provide consumers with various innovative services and use artificial intelligence.

Europe Car Insurance Industry Overview

The European car insurance market is highly fragmented, with a large number of players operating in the market studied. Companies have been focusing more on providing customized solutions to attract more customers and enhance their product portfolio. Large insurance players are seeking to team up with emerging Insurtech startups to access new market opportunities. The major players are Allianz SE, Assicurazioni Generali SpA, AXA SA, Munich RE, and Swiss Re AG.

Europe Car Insurance Market Leaders

  1. Allianz SE

  2. Assicurazioni Generali SpA

  3. AXA SA

  4. Munich RE

  5. Swiss Re AG

  6. *Disclaimer: Major Players sorted in no particular order
Europe Car Insurance Market Concentration
Need More Details on Market Players and Competiters?
Download PDF

Europe Car Insurance Market News

  • June 2023: Allianz partnered with JLR and launched an embedded insurance program, Simply Drive service, which is available for every vehicle, offering clients the convenience of immediate and complimentary insurance coverage for the first month of ownership, making the purchase quicker and easier.
  • September 2022: AXA launched a new digital car insurance brand known as Moja, where customers can buy insurance products and services through smartphones or tablets. Moja customers can protect personal belongings like satnavs, audio equipment and children’s car seats.

Europe Car Insurance Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS AND INSIGHTS

  • 4.1 Market Overview
  • 4.2 Market Drivers
    • 4.2.1 Rising Sales of Cars in Europe Drives The Market
    • 4.2.2 Increase in Road Traffic Accidents Drives The Market
  • 4.3 Market Restraints
    • 4.3.1 Increase in Cost of Claims Made
    • 4.3.2 Increase in False Claims and Scams
  • 4.4 Market Opportunities
    • 4.4.1 Online Car Insurance Products Expanding the Car Insurance Sales
    • 4.4.2 Demand for Customized Insurance Products by the Buyers
  • 4.5 Industry Value Chain Analysis
  • 4.6 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.6.1 Threat of New Entrants
    • 4.6.2 Bargaining Power of Buyers
    • 4.6.3 Bargaining Power of Suppliers
    • 4.6.4 Threat of Substitutes
    • 4.6.5 Intensity of Competitive Rivalry
  • 4.7 Insights on technology innovation in the Market.
  • 4.8 Impact of COVID-19 on the Market

5. MARKET SEGMENTATION

  • 5.1 By Coverage
    • 5.1.1 Third-Party Liability Coverage
    • 5.1.2 Collision/Comprehensive/Other Optional Coverage
  • 5.2 by Application
    • 5.2.1 Personal Vehicles
    • 5.2.2 Commercial Vehicles
  • 5.3 By Distribution Channel
    • 5.3.1 Agents
    • 5.3.2 Banks
    • 5.3.3 Brokers
    • 5.3.4 Other Distribution Channel
  • 5.4 By Geography
    • 5.4.1 Germany
    • 5.4.2 UK
    • 5.4.3 France
    • 5.4.4 Switzerland
    • 5.4.5 Rest of Europe

6. COMPETITIVE LANDSCAPE

  • 6.1 Market Concetration Overview
  • 6.2 Company Profiles
    • 6.2.1 Allianz SE
    • 6.2.2 Assicurazioni Generali SpA
    • 6.2.3 AXA SA
    • 6.2.4 Munich RE
    • 6.2.5 Swiss Re AG
    • 6.2.6 Chubb Ltd.
    • 6.2.7 GEICO
    • 6.2.8 Liberty Mutual Insurance
    • 6.2.9 Nationwide Mutual Insurance
    • 6.2.10 Porto Seguro S.A*
  • *List Not Exhaustive

7. MARKET FUTURE TRENDS

8. DISCLAIMER AND ABOUT US

**Subject to Availability
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Europe Car Insurance Industry Segmentation

Car insurance is a type of insurance that provides cover for loss or damage to the car. It helps to mitigate monetary harms due to accidents causing damage to the cars. Europe's car insurance market is segmented by coverage, application, distribution channel, and by geography. By coverage, the market is segmented into third-party liability coverage and collision/comprehensive/other optional coverage. By application, the market is segmented into personal vehicles and commercial vehicles. By distribution channel, the market is segmented into individual agents, brokers, banks, online, and other distribution channels. Other distribution channels include financial institutions other than banks, phone marketing, and mail marketing. By geography, the market is segmented into Germany, the UK, France, Switzerland, and the Rest of Europe. The report also covers the market sizes and forecasts for the European car insurance market in value (USD) for all the above segments.

By Coverage Third-Party Liability Coverage
Collision/Comprehensive/Other Optional Coverage
by Application Personal Vehicles
Commercial Vehicles
By Distribution Channel Agents
Banks
Brokers
Other Distribution Channel
By Geography Germany
UK
France
Switzerland
Rest of Europe
Need A Different Region or Segment?
Customize Now

Europe Car Insurance Market Research FAQs

How big is the Europe Car Insurance Market?

The Europe Car Insurance Market size is expected to reach USD 55.24 billion in 2025 and grow at a CAGR of 4.13% to reach USD 67.63 billion by 2030.

What is the current Europe Car Insurance Market size?

In 2025, the Europe Car Insurance Market size is expected to reach USD 55.24 billion.

Who are the key players in Europe Car Insurance Market?

Allianz SE, Assicurazioni Generali SpA, AXA SA, Munich RE and Swiss Re AG are the major companies operating in the Europe Car Insurance Market.

What years does this Europe Car Insurance Market cover, and what was the market size in 2024?

In 2024, the Europe Car Insurance Market size was estimated at USD 52.96 billion. The report covers the Europe Car Insurance Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Europe Car Insurance Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Europe Car Insurance Industry Report

Statistics for the 2025 Europe Car Insurance market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Car Insurance analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.