COLES has recently launched a suite of car insurance nationwide, including comprehensive, third-party fire and theft, and third-party property damage, after trialling the business in Tasmania last year. It follows the launch of Kmart Tyre & Auto, which also launched a range of car insurance products earlier this year.
So when you’re deciding which brand of bread or milk you will buy for your family, you can now consider taking out insurance for the car at the checkout — well, not quite. Coles doesn’t offer insurance at its 690-plus stores across Australia, although I’m sure you will be hearing about it over the speakers or on posters in the aisles. But you can pick up a policy online or over the phone.
Coles car insurance offers some interesting perks that certainly make them unique in comparison to other brands on the market. Firstly, comprehensive car insurance customers will receive 5 percent off the price for the first year when buying online.
Now, this is not so much a unique offer, as many of its competitors in the car insurance game are turning to the online market to lure their customers. In fact, some companies such as Allianz Australia and Just Car Insurance offer a discount of up to 10 percent when purchasing a policy online.
But here’s where it gets interesting. Coles offers rewards such as tripling their four cents off per litre petrol vouchers to receive 12 cents off once per month, FlyBuys points when you purchase the policy and your groceries are covered under the policy if they are damaged in a collision.
When it comes to price, Coles insurance products are among some of the cheapest in town. A study by RateCity found that Coles’ comprehensive car insurance was below the average cost in Doncaster, Melbourne, and was the cheapest out of 26 car insurance companies in Marrickville in Sydney’s inner-west.
Whether it’s a brand you know and perhaps use already, or one that is new to Australia, it’s worth taking some time to compare on price and perks. So when your car insurance renewal arrives in the mail, don’t forget to compare because you may find significant savings. And be sure to read the fine print so there’s no surprises when you least expect.
Michelle Hutchison is Consumer Advocate at RateCity.
The above information is general only and does not take into account your objectives, financial situation or needs.
Your say: Do you think this will be a good thing for consumers? Would you consider switching your car insurance to Coles? Email us on [email protected]
