Walmart, the franchise that aggressively advertises its 'Everyday Low Prices' had recently extended its scope to include Auto Insurance.
Beginning this month, Walmart announced its tie-in with AutoInsurance.com to offer car insurance to its customers at its customary 'Everyday Low Prices'. Interestingly, the retail giant won't directly sell auto insurance, but offer auto insurance comparison services through the AutoInsurance.com website. The latter party already has deep ties with national insurance carriers like Progressive, Esurance, Safeco, Travelers, and 21st Century. The agreement entitles Walmart directing customers to the website through its own website and in stores, but the bricks-n-clicks giant won't sell insurance directly to the customers looking for auto insurance.
Walmart customers using AutoInsurance.com, which is operated by Fort Lee, N.J.-based licensed property/casualty insurance agency Tranzutary Insurance Solutions, will see multiple quotes from each of the carriers, confirmed Insurance Journal.
It is indeed interesting, if not odd to see a platform like Walmart getting into auto insurance. But if one understands the primary policies of Walmart and its general intentions, offering auto insurance makes perfect sense.
Daniel Eckert, Senior Vice President of Services for Walmart U.S., shared, "The retailer had began looking into areas where it could bring its 'everyday low prices' and where customers are looking to save money about two and a half years ago. Studies showed that auto insurance was one area where customers expressed frustration."
"Insurance is one of our consumers' biggest monthly expenses and many feel they are overpaying for the insurance they have and don't know if they are getting the best coverage and the coverage they need. We thought we could bring something to life in both of these arenas."
With the faith normally associated with Walmart extending to areas like auto insurance, customers could get that much-needed confidence in buying insurance. Moreover, AutoInsurance.com claims to have taken efforts to offer direct, relevant and precise comparison, shared Joshua Kazam, co–founder of AutoInsurance.com.
"We really worked diligently to be able to take online shopping to a new level and directly integrated with carriers," he says. "The website allows consumers to compare apples to apples and makes insurance coverage shopping very easy to understand" he told CNN Money.
AutoInsurance.com successfully establishes trust as it retains all of the customer information and does not distribute it to the carriers until the point a consumer goes through with policy purchasing and binding.
Walmart's low prices and insurance aggregator AutoInsurance's confirmation of saving thousands of dollars with direct comparison could surely help customers ensure they aren't spending too much on auto insurance.
[Images via Bing]