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Overstock.com enters insurance comparison market

Posted On Wed, July 20, 2011

Insurance shoppers have another option to choose from when hunting for cheap auto insurance quotes.

Overstock.com - often referred to as O.co and one of the country's leading online retailers - recently announced that visitors to its website will be able to shop for auto and home insurance quotes by utilizing its insurance tab.

"This new tab underscores O.co's dedication to saving our customers money and becoming the online savings engine," said Patrick Byrne, CEO of Overstock.com. "Expanding our services to a new industry … is a natural extension of O.co."

The source states consumers from around the country will be able to compare auto and home insurance options from 20 leading insurance providers at one time.

The online retailer appears to be taking advantage of the increasing number of policyholders who shop for insurance online. According to a recent J.D. Power and Associates study, 54 percent of new customers perform their searches online rather than calling an agent. That's the highest rate since the organization began tracking insurance purchases online in 2006.

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