InsWeb Launches Nationwide Rollout of Homeowners and Renters Insurance

InsWeb Corp. has announced the availability of homeowners and renters insurance nationwide. State Farm has signed on to offer its policies in 45 states. Other carriers will be added in coming months, InsWeb says.

InsWeb is the first online marketplace to offer homeowners and renters insurance to consumers nationwide, and that functionality now gives buyers the ability to take care of most of their personal insurance needs in a single location. InsWeb also offers auto, term life, individual medical, and specialty lines of insurance from the nation's leading carriers.

"Providing homeowners and renters insurance is the next logical step for InsWeb in creating the Internet's most comprehensive and convenient insurance marketplace," says chairman and chief executive officer Hussein Enan. "InsWeb is focused on delivering the products most in demand from consumers, and 75 million households a year purchase or renew homeowners or renters insurance—a market second only to auto insurance."

Here's how the process works. To choose an insurance product, consumers fill out a single form that asks for a description of the home or apartment, the desired amount of policy coverage, and other information.

The applicant's data is then evaluated against the criteria of carriers participating in InsWeb's marketplace, and the consumer receives a price quote from one or more carriers within 48 hours. Consumers can then select the carrier from whom they wish to buy insurance.

Kevin Keegan, president of InsWeb's Insurance Services Group, says, "We're delighted that State Farm, which has already partnered with InsWeb to offer auto insurance, has chosen to broaden its relationship with us to offer homeowners and renters insurance."

To help consumers evaluate and satisfy their insurance needs, InsWeb also unveiled "Homeowners and Renters Quick Insurance Estimates," in which consumers can obtain a quick estimate, then get a customized quote based on the specifics of the actual dwelling. It also offers a "Homeowners Insurance Savings Quiz," which allows consumers to assess whether they are doing all they can to save money on their policy.

InsWeb also offers a resource center that helps consumers prepare for disasters; facilitates claim filing information; offers tips on protecting individuals and their families; provides a glossary of property insurance terms; and answers some of the most frequently asked questions about homeowners and renters insurance.