More than 100% of auto insurance companies now offer a free auto insurance quote, with a new nationwide policy launch today that will let consumers shop for car insurance from one of their local carriers.
The American Strategic Insurance Association, which represents more than 100 insurance companies, announced today that it will launch the free, nationwide policy exchange through the online marketplace marketplace, where consumers can view and compare quotes from more than 300 participating carriers, including all of the major national carriers.
The association said that consumers can access the free quotes through the mobile app on their phone or tablet for free.
A national network of more than 3,000 insurance companies and more than 70,000 companies participating in the marketplace offer similar pricing options for consumers, including a discount of up to 75% for consumers with a minimum policy amount of $100,000, and a 10% discount for those with a $500,000 to $1 million policy.
The group said that the new nationwide exchange will offer an improved marketplace experience and more choice for consumers.
“We know that consumers want more choice, and the new national marketplace will help them get the best rates, as well as give consumers more flexibility in their buying decisions,” said Susan Kagan, president and CEO of the American Strategic Alliance, the trade group representing more than 20 insurance companies.
“We are pleased to announce this partnership with American Strategic, and look forward to working with them in the future to offer more competitive rates for Americans.”
The National Association of Insurance Commissioners (NAIC) also announced today it will support the launch of the nationwide marketplace.
The National Association will help to build momentum for the national exchange, which is expected to launch in March.
The new national market will offer consumers more choices for buying car insurance and insurance products, including the ability to compare rates between competing companies, said NAIC president and CFO Dan Schulman.
Consumers will be able to choose from a wide variety of products, ranging from basic car insurance to comprehensive car insurance.
The national marketplace is designed to provide consumers with more choice than any other nationwide insurance marketplace in the country, including national auto insurance carriers like Alliance and Nationwide.
The National Automobile Dealers Association (NADA) will also help to support the national marketplace, according to its president and chief executive officer, James E. Taylor.
NADA will be in charge of administering the national insurance marketplace and helping to build and expand the network of participating companies, including Alliance and National Association.NADA, which has been in charge since the launch in 2011, has worked closely with American Security and the National Insurance Council, which are coordinating the launch and the national market.