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Walmart Works With AutoInsurance.com to Drive Into Washington with New Auto Insurance Comparison Shopping Site
[September 16, 2014]

Walmart Works With AutoInsurance.com to Drive Into Washington with New Auto Insurance Comparison Shopping Site


FORT LEE, N.J. --(Business Wire)--

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 Washington. 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 Washingtonians. Currently, drivers in the state pay $1,445 per household in premiums each year and 16.1 percent are uninsured-the 10th highest rate in the country,"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 Washington, 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 Washington, the service will now be available in Alabama, California, Georgia, Illinois, Indiana, Kentucky, New Mexico, Ohio, Oregon and South Carolina. 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 Washingtonians an easy way to save big money on auto insurance."

Helping Washingtonians Save

According to a survey commissioned by AutoInsurance.com, only 27 percent of Washingtonians say they comparison shop for auto insurance, with 27 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 Washingtonians 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 (News - Alert) at http://facebook.com/walmart and on Twitter (News - Alert) 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.
 


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