Walmart offers auto insurance rate comparisons in U.S.

Retail giant Walmart is now offering auto insurance rate comparison services through its own website and AutoInsurance.com for several regions of the United States, with a plan to go nationwide in the coming months.

The service is available immediately in Arkansas, Louisiana, Mississippi, Missouri, Oklahoma, Pennsylvania, Tennessee and Texas, according to a news release from Walmart, which will also offer AutoInsurance.com’s services directly from its own website.

AutoInsurance.com is operated by TZ Insurance Solutions, an agency licensed to sell auto insurance from the carriers on its platform (such as Progressive, Travelers, Esurance, 21st Century, Safeco, The General) on behalf of Tranzutary Insurance Solutions.

 AutoInsurance.com “was created after Walmart had the idea that there needed to be a better way for customers to compare, buy and save on auto insurance,” according to Walmart.

In a pilot in Pennsylvania last year, customers who bought policies through AutoInsurance.com reported that their annual insurance costs were reduced by $1,168 on average, and based on that, the service has now expanded, according to Walmart.

“Our business is driven by a commitment to taking products and services that are complex and pricey and making them easy and affordable,” Daniel Eckert, senior vice president of services for Walmart U.S. said in the statement.

“Our customers too often have to settle for auto insurance policies that aren’t the best fit and cost more than they want to spend. With AutoInsurance.com, we’re helping our customers save money on one of their largest household expenses in a new, quick and easy way.”

Customers using the site can login and provide their name, address, date of birth and contact information and then opt-in to have the site retrieve their current auto insurance policy, allowing the site to fill in most of the necessary coverage information and provide a direct comparison, according to AutoInsurance.com.

After receiving quotes from various carriers and choosing deductible and coverage information, customers can then buy a policy online immediately, or have the option to speak with a licensed agent on the phone, or save their information to make a purchase later.

“Today, nearly 90% of people comparison shop online for products and services like airline tickets, but our survey data shows that only one in five comparison shop for auto insurance,” added Joshua Kazam, founder of AutoInsurance.com.

“We want to make comparison shopping for auto insurance much simpler and faster for everyone who wants to save money on their premiums. We believe strongly in the power of comparing. It’s how you know you got a great deal on auto insurance.”