Does Walmart Have Auto Insurance?

Auto insurance is an important and legally required purchase for drivers across the United States. With costs rising year after year, many drivers look to save money on their policies without sacrificing coverage. This leads many to ask does Walmart have auto insurance?

The short answer is no, Walmart does not directly sell its own auto insurance policies However, the retail giant has partnered with AutoInsurancecom to offer a comparison shopping service to its customers. This allows Walmart shoppers to easily compare quotes from multiple top insurance providers and purchase a policy completely online.

Walmart’s Auto Insurance Partnership

In April 2014, Walmart announced its partnership with AutoInsurance.com to launch a new auto insurance comparison platform. This service is available directly through the Walmart website, allowing customers to compare policies and pricing from major insurers side-by-side.

According to Walmart’s press release, this platform was created to “bring customers a first-of-its-kind auto insurance comparison service that helps drivers quickly buy and save significantly on policies.”

The service first launched in eight states – Arkansas, Louisiana, Mississippi, Missouri, Oklahoma, Pennsylvania, Tennessee and Texas. After a successful pilot program in Pennsylvania saved customers an average of $1,168 per year, Walmart planned to roll out the auto insurance comparison platform nationwide.

This partnership aimed to simplify a process that many drivers find frustrating and confusing. Joshua Kazam, founder of AutoInsurance.com, stated that “only one in five comparison shop for auto insurance.” This platform hoped to make comparing and purchasing policies quicker and easier.

How the Walmart Auto Insurance Platform Works

The AutoInsurance.com platform works seamlessly within the Walmart website to provide a one-stop shopping experience. The simple quote process only requires basic information like name, address, and date of birth.

Drivers can opt to have the site access their current policy information to instantly compare pricing. Within minutes, side-by-side quotes from insurers like Progressive, Esurance, and Safeco are generated.

Shoppers can customize coverages to see how deductibles and limits affect pricing. When ready, policies can be purchased completely online, over the phone, or saved for later.

The insurance partners on Walmart’s platform represent many of the biggest national carriers. This gives customers an extensive selection of policies to evaluate.

Benefits of Walmart’s Auto Insurance Comparison Platform

Walmart’s partnership with AutoInsurance.com provides several key benefits for drivers:

• Access to Multiple Quotes: Customers can easily compare pricing and coverage from several top insurers at once. This simplifies the process of finding the best rate.

• Apples-to-Apples Comparison: By inputting current policy details, the site generates quotes based on identical coverage. This creates an accurate side-by-side price comparison.

• Policies from Trusted National Insurers: Major insurance brands like Progressive, Esurance, and Safeco are available. This gives customers confidence in purchasing through the platform.

• Significant Savings Opportunities: Based on a pilot program, Walmart found customers saved an average of $1,168 annually using this service.

• One-Stop Shopping Experience: Purchasing insurance through Walmart creates a seamless experience alongside other shopping needs.

• Full Online Policy Management: Customers can purchase, manage, and adjust policies completely through the website for convenience.

For Walmart shoppers looking to save on their auto insurance, this platform creates an easy way to evaluate multiple options and reduce costs. The average savings demonstrate the real potential to secure a better rate.

Does Walmart Offer Any Other Insurance Products?

While Walmart does not currently sell its own branded insurance policies, the retailer does offer several other insurance services. These include:

• Life Insurance: Walmart provides access to term life insurance policies from providers like Globe Life and Accident Insurance Company. Plans are available to purchase on Walmart’s website.

• Pet Insurance: Walmart pet insurance plans are underwritten by United States Fire Insurance Company and administered by Pethealth Inc. Multiple levels of accident and illness coverage are available.

• Extended Warranties: Electronics, appliances, furniture, and other purchases can be covered by extended warranty plans from Walmart Protection Plans. These add extra years of protection beyond the manufacturer’s warranty.

• Travel Insurance: Customers can purchase travel insurance plans provided by Allianz Global Assistance right on the Walmart website. Policies include trip cancellation, interruption, delay and emergency medical coverage.

While Walmart’s auto insurance comparison platform doesn’t provide Walmart-branded policies, customers do have access to insurance from leading national carriers. The retailer also offers convenient policy purchasing for other common insurance needs directly through its website.

Why Doesn’t Walmart Have Its Own Auto Insurance?

With Walmart’s massive size and brand recognition, some may wonder why the company doesn’t offer its own labeled auto insurance policies. There are a few key reasons Walmart has avoided starting its own insurance program:

Insurance Industry Expertise

Successfully providing auto insurance requires major investment in actuarial analysis, underwriting, and claims management. Walmart has likely preferred partnering with established insurers that already have this expertise.

Regulatory Requirements

Selling insurance directly would require Walmart to gain licensure and adhere to regulations in all 50 states. The company has likely opted to avoid this compliance burden.

Market Competition

The auto insurance space is highly competitive and saturated with entrenched national players. As a new market entrant, Walmart would face an uphill battle establishing market share.

Brand Recognition

Customers generally prefer purchasing insurance from established, recognized insurance brands. Walmart’s brand may not convey the stability and trust required for this complex financial product.

Profit Potential

Walmart’s core business model has produced massive profits by focusing on high sales volumes and low margins. The insurance model relies more on actuarial concepts like risk pooling rather than volume.

Based on these hurdles, Walmart has strategically avoided the challenges of launching its own insurance products. Instead, the company provides customers with easy access to policies from leading national carriers through its AutoInsurance.com partnership.

Who Provides the Insurance Quotes on Walmart’s Site?

While Walmart provides the digital platform to compare and purchase policies, the quotes themselves come directly from top national insurance carriers. This helps ensure customers are seeing accurate pricing for real coverage.

According to Walmart’s original press release in 2014, the following major insurance brands were included in the comparison service:

• Progressive
• Esurance
• Safeco
• The General
• And other leading national carriers

Additional companies may also be available depending on the customer’s state. By working with established insurers, Walmart can provide genuine side-by-side insurance quotes customers can trust.

Can Policies Be Purchased Directly Through Walmart?

Yes, the AutoInsurance.com platform allows customers to purchase policies completely online through Walmart’s website. After comparing quotes, customers can select their preferred insurer and complete the purchase digitally in a few steps.

The platform also provides the option to speak with a licensed insurance agent over the phone or save your information to finalize the purchase later. This gives customers flexibility in how they complete the process.

Purchasing through Walmart provides a seamless one-stop shopping experience. Customers can buy insurance from major carriers as easily as adding groceries to their cart. The platform manages the entire policy lifecycle online.

The Bottom Line

Walmart does not currently offer its own branded auto insurance policies directly to shoppers. However, the retailer’s partnership with AutoInsurance.com provides customers with an innovative comparison shopping service.

Drivers can easily access quotes from insurers like Progressive and Esurance through Walmart’s website. Side-by-side comparisons help identify potential savings in just minutes. Customers can then purchase a policy online and manage their insurance through Walmart.

While Walmart itself doesn’t act as an insurer, this platform simplifies the process of finding coverage at the best rate. For Walmart shoppers, it provides a new way to save on one of their largest regular expenses.