Walmart and AutoInsurance.com today announced the continued national
expansion of the first-of-its-kind auto insurance comparison site into
11 new states, including Illinois. This comes on the heels of an
overwhelming customer response to the service in the eight states
launched earlier this year.
Customers who have used the site to compare and purchase new auto
insurance policies and have reported their savings reduced their annual
premiums by more than $1,000 on average.1 In addition to
savings for previously insured customers, an extraordinary 33 percent of
new policyholders were previously uninsured.2
“AutoInsurance.com represents a huge opportunity to make a difference in
the lives of a lot of Illinoisans. Currently, drivers in the state pay
over $1,200 per household in premiums each year and more than 1 million
are currently uninsured,”3 said Joshua Kazam, founder of
AutoInsurance.com.
Kazam added “And, by providing affordable options that help reduce the
number of uninsured motorists, AutoInsurance.com may also make a
positive impact on insurance rates in Illinois, where the number of
uninsured drivers increases costs for everyone.”
Comparison Shopping for Auto Insurance – In One Place
Traditionally, auto insurance plans have been difficult to compare,
requiring customers to visit multiple websites and turn over their
personal information to each. AutoInsurance.com solves that problem. By
building a fast, easy-to-use website, customers can compare and buy real
policies from many leading national insurance carriers all in one place.
And, unlike lead generation services, AutoInsurance.com does not sell
customers’ information. Here’s how it works:
-
When customers log on to the website, all they have to do is provide
their name, address, date of birth and contact information.
-
Customers can opt-in to have AutoInsurance.com automatically retrieve
their current auto insurance policy information. This allows
AutoInsurance.com to fill in most of the necessary coverage, vehicle
and driver information and provide a direct apples-to-apples
comparison to their existing policy.
-
In just minutes, the customer is provided multiple quotes from many of
the leading carriers. They can customize their coverage, including
deductibles, and see those choices immediately reflected in the quotes.
-
They can choose to purchase the policy online immediately, speak with
a licensed agent at 800-700-7500, or save their information and make
the purchase later. There is absolutely no cost or commitment to use
the service.
-
Customers will only be contacted in the future by AutoInsurance.com or
the carrier of the policy they purchase.
In addition to Illinois, the service will now be available in Alabama,
California, Georgia, Indiana, Kentucky, New Mexico, Ohio, Oregon, South
Carolina and Washington. In total, AutoInsurance.com will now cover more
than half of the U.S. population.
“Walmart is proving once again that when we offer services that are
simple to use and save money, our customers win big,” said Daniel
Eckert, senior vice president of services for Walmart U.S. “Our
customers have told us that auto insurance is one of their largest
household expenses, but one of the toughest to do anything about. We’re
so excited to work with AutoInsurance.com as they expand this service
and give Illinoisans an easy way to save big money on auto insurance.”
Helping Illinoisans Save
According to a survey commissioned by AutoInsurance.com, only 18 percent
of Illinoisans say they comparison shop for auto insurance, with 21
percent saying the search for alternatives takes too much time.4
“Nationwide, 34 percent of consumers spent more than one hour
researching auto insurance during the past year,” said Kazam. “Customers
tell us that shopping around for auto insurance is too complex and time
consuming, which leaves them settling for policies that aren’t
necessarily the best fit and cost more than they want to spend.
AutoInsurance.com can help Illinoisans do better.”
About AutoInsurance.com
AutoInsurance.com
is a first-of-its-kind service that helps customers compare, buy and
save on auto insurance policies from multiple national insurance
carriers online or by phone. Tranzutary Insurance Solutions LLC, of DE
which operates as AutoInsurance.com, is a licensed property and casualty
insurance agency in 50 states.
About Walmart
Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world save
money and live better -- anytime and anywhere -- in retail stores,
online, and through their mobile devices. Each week, more than 250
million customers and members visit our 11,053 stores under 71 banners
in 27 countries and e-commerce websites in 11 countries. With fiscal
year 2014 sales of over $473 billion, Walmart employs approximately 2
million associates worldwide. Walmart continues to be a leader in
sustainability, corporate philanthropy and employment opportunity.
Additional information about Walmart can be found by visiting http://corporate.walmart.com on Facebook at http://facebook.com/walmart and
on Twitter at http://twitter.com/walmart.
|
|
|
|
|
|
1
|
|
|
Actual average savings of $1,015 by customers in eight states who
purchased policies from AutoInsurance.com, reported a prior premium
with the same policy term, and saved during the time period from
April 30, 2014 to July 31, 2014.
|
|
2
|
|
|
Percentage of total customers who purchased policies from
AutoInsurance.com during the time period from April 30, 2014 to July
31, 2014 who reported having no previous insurance policy.
|
|
3
|
|
|
Average policy cost represents the average insurance expenditure per
vehicle multiplied by the average number of vehicles per household.
Based on NAIC 2013 Auto Insurance Report, 2010 US Census Households
and Families Report and 2014 Insurance Industry Institute data.
|
|
4
|
|
|
The survey was conducted by a national research firm for
AutoInsurance.com in February 2014. The sample consisted of 5,228
male and female consumers over the age of 18 who own or lease a
vehicle.
|
|
|
|
|
|
Copyright Business Wire 2014