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California Drivers: Test Drive the New Quotesmith.com Auto Insurance Price Comparison Service; Here's a Fast and Easy Way to Get Instant Quotes, Compare Prices and Achieve Maximum Savings

Quotesmith.com, Inc. (ticker: QUOT, exchange: NASDAQ) News Release - 3/25/2002


California Drivers: Test Drive the New Quotesmith.com Auto Insurance Price Comparison Service; Here's a Fast and Easy Way to Get Instant Quotes, Compare Prices and Achieve Maximum Savings

  • Large selection of name-brand auto insurers all in one place online
  • New technology permits quick viewing of lowest premiums
  • End-to-end buying solution delivers unprecedented speed and convenience

DARIEN, IL (March 25, 2002) -- Shopping for auto insurance in the Golden State just got a lot easier. Quotesmith.com (NASDAQ: QUOT), the online insurance broker that provides instant auto, life, health, dental, travel and disability insurance quotes from more than 300 companies, today announced the launch of a brand new auto insurance price comparison service for residents of California. This new service spells instant relief for California drivers fed up with skyrocketing auto insurance premiums.

The California debut includes an initial lineup of 11 leading insurers that are now immediately available at www.quotesmith.com. Instant quotes for household-name insurers such as Hartford, Colonial Penn/GE, Kemper, Electric, Infinity, Superior, Orion, Civil Service Employees (CSE), Unitrin Direct, AIG Specialty Auto, Financial Indemnity and even the California Automobile Assigned Risk Plan are now available. More insurance companies will be added in the future.

"Our new California auto insurance price comparison service is far and away the fastest and easiest auto insurance purchase solution of its kind on the Internet," said Quotesmith.com project leader, Bill Bland. "We're delivering a wide panorama of comparative auto insurance market information so that a savings-in-seconds experience becomes reality. Shopping for auto insurance can be time-consuming and confusing. We've solved both problems by aggregating the policy offerings of leading insurers and presenting that information in a format that is quick and easy to understand."

Early Customer Enthusiasm

The very first California driver to purchase auto insurance from the new Quotesmith.com service was Vicki Holsinger of Concord, CA. In describing her money-saving experience, Ms. Holsinger exclaimed, "I saved over $700.00 per year compared to what I was paying with my current insurance company and found your service to be excellent!" M.F. Gaal of Redondo Beach, CA also had a pleasant, money-saving experience as well: "I saved $300 for the year by switching and it took only a few minutes."

Advancing The Online Auto Insurance Purchase Process

In terms of speed and simplicity, the new Quotesmith.com auto insurance price comparison service is destined to set a new industry standard for choice, selection and rapid functionality. With the goal of seeking to slash shopping and policy delivery times, the new Quotesmith.com service offers:

  • A wide selection of instant quotes from leading California Auto insurance companies.
  • Accurate quotes backed by a $500 Cash Reward Accuracy guarantee.
  • Complete absence of special broker "add-on" service fees which are typically charged by many California-based insurance brokers
  • Personalized customer care and assistance on a toll-free basis.
  • Simple-to-use search parameters with automatic retention of all request information which makes future re-quotes a snap.
  • Unbiased information, freedom to purchase from any company shown.
  • Immediate alternate coverage quotes without having to re-key or re-search.
  • Ability to buy and bind online from many companies.
  • Viewable A.M. Best ratings with each and every quote.
  • Ability to view underwriting acceptance guidelines.

 

About Quotesmith.com

Founded in 1984, Quotesmith.com owns and operates two comprehensive online consumer insurance information services, www.insure.com and www.quotesmith.com. Catering to self-directed insurance shoppers, Quotesmith.com provides a comprehensive array of comparative auto, life and health quotes, combined with news, information and decision-making tools that are not available from any other single source. Visitors to the company's Web sites are able to obtain instant quotes from more than 300 leading insurers, achieve maximum savings and have the freedom to buy from any company shown. Quotesmith.com generates revenues from the receipt of commissions, fees, content licensing and advertising revenues paid by participating insurers. Quotesmith.com also provides personalized insurance brokerage and policy placement services for its customers. Shares of Quotesmith.com trade on the Nasdaq SmallCap Market under the symbol "QUOT."

Cautions about Forward-Looking Statements

This announcement may contain forward-looking statements that involve risks, assumptions and uncertainties pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. This announcement also contains forward-looking statements about events and circumstances that have not yet occurred and may not occur. Expressions of future goals and similar expressions including, without limitation, "intend," "may," "plans," "will," "believe," "should," "could," "hope," "expects," "expected," "does not currently expect," "anticipates," "predicts," "potential" and "forecast," reflecting something other than historical fact, are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. Investors should be aware that actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance. Reported Web site activity and/or quotes are not necessarily indicative of any present or future revenue. The Company will not necessarily update the information in this press release if any forward-looking statement later turns out to be inaccurate. Potential risks and uncertainties include, among others, Quotesmith.com's ability to successfully launch and realize revenues from new products and services, potential business risks associated with generating revenues from the insure.com platform, limited e-commerce operating history, anticipated losses, unpredictability of future revenues, potential fluctuations in quarterly operating results, seasonality, consumer trends, competition, risks of system interruption, the evolving nature of its business model, the increasingly competitive online commerce environment, dependence on continuing growth of online commerce and risks associated with capacity constraints and the management of growth. More information about potential factors that could affect the company's financial results are included in the company's Annual Report on Form 10-K for the year ended December 31, 2000, and the Company's Quarterly Reports on Form 10-Q for the periods ended March 31, 2001, June 30, 2001 and September 30, 2001 which are on file with the United States Securities and Exchange Commission.

All policies contain specific insuring agreements, exclusions and conditions. No employee of Quotesmith.com is making any endorsement or recommendation in this communication regarding any particular coverage or insurance company. Quotesmith.com, Inc. dba Quotesmith.com Insurance Services in CA under agent #0827712.

Some insurance companies appear at Quotesmith.com for purely informational purposes only and pay no compensation to Quotesmith.com and some insurers pay commissions or fees to Quotesmith.com based upon premium volume or traffic activity produced by Quotesmith.com. Quote availability by state or any other factor is subject to change without notice. Quotesmith.com, insure.com, LTCompare and QuotesmithPro are service marks of Quotesmith.com, Inc. All other names are trademarks of their respective owners. Copyright 2002. All rights reserved. Quotesmith.com, Inc.

SOURCE Quotesmith.com, Inc.

 

CONTACT: William Thoms, Executive Vice President, (630) 515-0170, ext. 202, wthoms@quotesmith.com

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