Does Walmart sell auto insurance?

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Asked May 13, 2015

1 Answer


People around the United States trust Walmart to provide them with everything from consumer products to food as well as auto repairs and more. Getting the best possible car insurance at the best possible rate is also important. Walmart is now working with AutoInsurance.com, an online auto insurance company, to provide their customers with the auto insurance they need at the lowest possible price.

Beginning
Part of the motivation for this was to give better access to quality auto insurance by younger consumers. A national survey was conducted by AutoInsurance.com. It asked over 4,500 drivers about the cost of auto insurance. Approximately 50 percent believed they were overpaying for auto insurance. The survey also showed that monthly auto insurance payments are a serious financial burden to millennials. These are individuals who easily use the internet for shopping and are very comfortable looking for a car insurance policy online.

Auto Insurance Comparison
The partnership between AutoInsurance.com and Walmart created a way for customers to compare auto insurance prices and coverage. The site makes it possible to compare prices from national car insurance providers such as 21st Century, Progressive, Safeco, Esurance, Travelers and more. Walmart customers can use the comparison service through the Walmart website as well as in their stores. Walmart does not sell any car insurance directly to the customer.

Easy To Use
What Walmart is offering is not simply a lead generator. It enables people looking for low-cost car insurance the ability to compare actual policies and prices in one place. The site provided by Walmart is able to obtain a customer's most recent insurance information to make the process faster. This will make it possible to automatically complete most of the necessary coverage information. After obtaining a car insurance quote, consumers can purchase coverage online, or call a toll free number and speak directly with a licensed car insurance agent.

Eight States
Auto insurance shopping from the Walmart website is initially only available in eight states. Texas, Arkansas, Tennessee, Louisiana, Pennsylvania, Mississippi, Oklahoma, and Missouri. There are plans to increase access to shoppers nationwide. More insurance carriers are also going to be added into the process. The expansion will be based on research showing areas where customers are actively looking to save money on car insurance. It is currently being offered in places where studies have shown customers express extreme frustration with shopping for car insurance.

Not Insurers
Accenture is a company that recently conducted a global survey. It revealed that over 66 percent of people looking to purchase auto insurance products were comfortable getting it from an organization other than an insurance company. Approximately 22 percent stated they would consider buying online insurance from a well-known online service provider. An insurance shopping study also showed that customers prefer to go online and switch their auto insurance carrier. This is often a result of poor service or an uncomfortable increase in premiums.

Customization
This price comparison method works well with people who need to adjust their premiums and coverage to meet their car insurance needs. People can put in the maximum or minimum coverage levels and compare the results. Coverage decisions will impact how much a person pays for the coverage. Customers can determine what deductibles, liability limits and optional coverages they want. This has been designed to customize car insurance to meet an individual's specific needs.

Answered May 14, 2015 by Anonymous

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