Wesfarmers subsidiary Coles is set to launch home and contents insurance just months after entering the car insurance market.
Wesfarmers subsidiary Coles is set to launch home and contents insurance just months after entering the car insurance market.
Coles finance director Tony Buffin said the response to the car insurance offer exceeded the company's expectations.
"Over 70 percent of customers signing up are switching from the traditional brands," Mr Buffin said.
He said with industry figures revealing that home building premiums have just 24 per cent between March 2008 and March 2010 the company expects a strong response to this new initiative.
Just like the car insurance offer, the home and contents insurance will offer benefits to Coles customers.
Coles home insurance policy holders will earn triple FlyBuys points on the first $500 they spend at Coles Supermarkets every month for a year.
"We are very happy with how responsive customers have been to Coles Car Insurance," said the managing director of Wesfarmers Insurance Robert Scott.
"We're keen to respond to the growing demand and it made a lot of sense to work hard and launch this before Christmas," said managing director
According to Robert Scott, Managing Director of Wesfarmers Insurance, "This extension to our offer continues to confirm our long-standing commitment to the insurance needs of Australians."
"With the costs of insurance increasing, consumers benefit in so many ways with Coles Insurance. In addition to great value, there is the peace of mind that comes from insuring with one of Australia's largest and longest serving insurers," Mr Scott said.
See statement from Coles below:
Following the successful launch of its car insurance product, Coles is now set to shake up Australia's home and contents insurance market.
Coles Home Insurance will give Australians a great value, quality product at a time when premiums from the traditional players continue to rise. Industry figures show that Home Building's premiums have jumped 24% from March 2008 to March 2010.
Coles Finance Director Tony Buffin said Coles was confident its new Home Insurance offer would be welcomed by Australians searching for better value.
"The response to our car insurance offer has exceeded our expectations, and over 70 percent of customers signing up are switching from the traditional brands," Mr Buffin said.
"We think we'll see a similar strong response from customers concerned about the rising cost of their current home and contents insurance."
Mr Buffin said he believed that Coles Home Insurance offers customers a great quality product at a very competitive price, with features not offered by any other home insurance product in the market.
Coles Home Insurance policy holders will earn triple FlyBuys points on the first $500 they spend at Coles Supermarkets every month for a year.
Three choices of quality insurance cover are available both online and through a dedicated call centre - building and contents, building only and contents only insurance.
In addition to the triple FlyBuys points offer, if you buy online there is an additional 5% discount. Combine your policies by taking out Building and Contents with Coles Insurance and you will save 5% off your building insurance premium and 5% off your contents insurance premium.
Coles Home Insurance features:
- Cover for fire, flood, storms, water damage, theft and more, with a lifetime guarantee on authorised building repairs, providing peace of mind;
- Cover for demolition, council fees and more, over and above the sum insured so there are no extra costs to cover hidden extras;
- Cover for temporary accommodation for you and your family and pets while your home is being repaired;
- Cover for high-value items at no extra cost; and,
- Cover for outdoor items such as barbeques, garden furniture and bikes.
According to Robert Scott, Managing Director of Wesfarmers Insurance, "We are very happy with how responsive customers have been to Coles Car Insurance. We're keen to respond to the growing demand and it made a lot of sense to work hard and launch this before Christmas. This extension to our offer continues to confirm our long-standing commitment to the insurance needs of Australians."
"With the costs of insurance increasing, consumers benefit in so many ways with Coles Insurance. In addition to great value, there is the peace of mind that comes from insuring with one of Australia's largest and longest serving insurers," Mr Scott said.
