While perhaps not a true “overstock” item, the Internet retail giant is treating insurance the way it treats its other retail products, making auto and home insurance products available to its masses.
The result of a partnership with
Answer Financial offers quotes from Travelers, Progressive, Esurance, Safeco and MetLife.
Policies can be purchased online or over the phone through a licensed insurance expert. Answer Financial claims its users are currently reporting average annual savings of $468 on their auto policies alone. The service also streamlines the quote and buying process so that policies offered can be purchased online or over the phone with one of Answer Financial's licensed insurance experts.
"This new tab underscores O.co's dedication to saving our customers money and becoming The Online Savings Engine,” said O.co CEO Patrick Byrne. “O.co Insurance enables any U.S.-based customer to shop, compare and buy online in minutes making it a great resource for first-time insurance buyers, but also anyone looking to replace and save on their current policy."
Since its inception in 2000, Overstock.com’s offerings, from shoes to shower doors, has grown exponentially. Insurance is the latest such offering, the firm reported, and promises to continue to evolve further in the coming months.
"We think O.co is a great partner for our services," said Rob Slingerland, CEO of Answer Financial. "More and more consumers are using the web to save money on auto and home insurance, and the Answer Financial platform allows them to effectively shop the market and compare prices to find some of the best deals. Bringing this capability to O.co's savvy online customers is a perfect fit for our business."
