In what may be a sign of things to come, retail giant Amazon is now getting into the car insurance business. It may seem odd to be able to buy cat litter, an iPad, and car insurance all from the same retailer, but Amazon has always been bold when it comes to trying new things.
Enter Amazon car insurance.
The test run for this ambitious move is happening only in India, for the time being. Amazon is touting the program as “an auto insurance product that is affordable, convenient, and provides a seamless claims experience”.
To that end, the Amazon Pay platform is being used to offer motorcycle and car insurance policies to Indian consumers. Let’s talk about how it works.
How Does Amazon Car Insurance Work?
Amazon car insurance is offered through the Indian company Acko General Insurance Ltd. Using Amazon Pay, which is very popular in India, consumers can purchase an auto insurance policy within minutes. These “no paperwork” policies are all electronic and come with exclusive Prime benefits and extra services that cannot be offered by other major auto insurance companies.
For instance, by joining Amazon Prime also consumers will be able to access exclusive discounts such as “free” live television to Prime members in some areas and reduced or no monthly fees for other Amazon services like Amazon Fresh grocery delivery.
Amazon car insurance shows up in your Amazon account as an order and here is where your policy documents are held. And the claims process is promised to be “hassle-free”. Claims are initiated and tracked online using a computer or a phone app and Amazon is shooting for one-hour pick-up and claim servicing within three days.
What Other Amazon Car Insurance Options Are Offered?
In addition to the Prime member benefits, Amazon car insurance also offers roadside assistance, competing with other paid breakdown assistance services like AAA.
There is also a coverage option known as Outstation Emergency coverage that offers a flat fee for a repair that takes more than 12 hours. In rural India, this type of coverage can be a huge money saver.
Another, perhaps purely market-oriented coverage option, is known as Consumables coverage. This coverage is for things like oil, lubricants, nuts and bolts, all things to think about when it comes to car repair in a remote Indian village, for instance.
Will Amazon Disrupt the Car Insurance Industry?
While Amazon car insurance is currently only available in India, it’s success may ensure its debut in the United States in the near future. Some claim that a disruption in the car insurance industry is long overdue and this move may be a catalyst for new offerings and perhaps new pricing.
Until this all shakes out, the best way to get the best price remains comparison shopping. InsuranceWins can help. With just a little information, we’ll set you up to see quotes from all the current well-known auto insurance carriers so you can find the most savings. Why wait for Amazon? InsuranceWins can save you money now!
