If you didn\u2019t read it somewhere, you might not be aware that internet giant Google is jumping head first into selling auto insurance. Question is \u2013 would you take the company seriously and insure your car with them? Many people are going to be asking themselves that very question as Google pursues its intentions to use its highly successful online auto insurance comparison shopping site to climb to the next level and compete with the \u201cbig names\u201d of the insurance industry.<\/p>\n
Planning to offer policies through its new Google Compare Auto Insurance Services in the U.S., the company is already licensed to sell insurance in 26 states. The fledging entity was granted rights to begin selling coverages on behalf of MetLife, Viking Insurance, and as many as four other companies in California, thus far. And, some expect those numbers to increase rapidly over the next few months in the constantly changing internet world.<\/p>\n
Many of Google\u2019s previous successes, including its latest endeavor into the insurance business, were as a result of attempting to reduce costs by cutting out the middleman.
A perfect example of this was the hijacking of large amounts of search traffic away from retailers during a November Google Shopping experiment that redirected countless ad clicks to the company\u2019s results pages rather than those of retailer websites.<\/p>\n
In the United Kingdom, Google Compare for auto insurance has been available for consumers to use since 2012. Launching the service in the U.S., has been somewhat more difficult with numerous delays. While the site was scheduled to go online in December 2014, followed by additional launches in Illinois, Pennsylvania, and Texas sometime in the first quarter of 2015, the California pilot program may not be activated until later in the first quarter. In spite of the snags, Google is determined to begin offering consumers auto insurance policies from its search results platform \u2013 sooner than later.<\/p>\n
Google\u2019s massive earnings from its ad revenue and highly visible internet presence have made the company a household name. And, considering insurance has contributed greatly to its ad sales, in addition to being the most expensive keyword category when it comes to web searches, the move to selling policies seemed inevitable. Of its $32.2 billion in advertising revenue, 97 percent of Google\u2019s take comes from online pay-per-click advertising. As of several years ago, insurance keywords cost as much as $54.91 per click and advertising costs have risen since then.<\/p>\n
As soon as Google becomes a true force in the selling of insurance on the internet, there\u2019s no question it\u2019ll grab a good sized piece of the proverbial pie, estimated at $1 trillion in total premiums in 2013, according to the U.S. insurance industry. Of that total, property\/ casualty (auto, home, renters, and commercial) insurance was credited with bringing in $481.2 billion or 46 percent of the total.<\/p>\n
Though skeptics feel the company will be fighting an uphill battle competing with the \u201cBig Five\u201d, Google has left little doubt they\u2019ve come to play. Having already been granted licenses to conduct business in \u2013 Alaska, Arkansas, Arizona, California, Delaware, Florida, Idaho, Illinois, Indiana, Louisiana, Massachusetts, Minnesota, Missouri, New Hampshire, New Jersey, New York, North Carolina, Ohio, Oklahoma, Oregon, South Carolina, Tennessee, Texas, New Jersey, Washington, West Virginia, Wisconsin, and Wyoming \u2013 Google Compare Auto Insurance Services may be only a few months from proving those skeptics wrong.<\/p>\n
You don\u2019t want to be skeptical and think that all insurance companies are the same. They\u2019re not. You can find low cost auto insurance if you know where to look. So, don\u2019t just accept what you\u2019re currently paying. Make sure you\u2019re getting the best rate on your car insurance. Why not get a free car insurance quote<\/a> today?<\/p>\n