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AutoVantage Introduces Auto Insurance Rate Comparison

28 May 1998

AutoVantage Introduces Auto Insurance Rate Comparison Feature From Progressive

          -- Online Car Buyers Can Save Hundreds on Insurance --

    STAMFORD, Conn., May 28 -- Online car buyers using
AutoVantage can now instantly compare auto insurance rates from a number of
providers in their state through a new feature launched today through an
alliance between AutoVantage (http://www.autovantage.com), a leading interactive
car-buying service, and Progressive Corp. (http://www.progressive.com), one of
the nation's largest auto insurers.
    Car buyers using the new feature on the AutoVantage Web site or America
Online site are linked to Progressive's Web site, where they input their auto
insurance information, including state of residence, number of drivers, and
make and model of car. They instantly see a comparison of auto insurance rates
of up to four major auto insurers in their state.
    The service, offered after a free new-car purchase request is submitted,
helps consumers find the best insurance rate available to them. Like
AutoVantage's hassle-free car-buying service, used-car buying and selling
service and expert car reviews, the service from Progressive is free.
    "We have eliminated the need for online car-buyers using AutoVantage to
phone different insurers for quotes that are often difficult to compare," said
Ken Esterow, vice president of AutoVantage.  "Through Progressive's service,
car buyers now have a fast, convenient way to compare rates and make an
informed decision. Making Progressive's service available through AutoVantage
is consistent with our mission to provide a one-stop hassle-free car-buying
service. Car buyers can find savings and convenience during each phase of the
process, from the initial research to the securing of financing and insurance
to the actual purchase."
    "A little-known fact about auto insurance is how much rates for the same
person can vary from company to company," said Progressive Corp.  Business
Unit Manager Nat Leonard. "We've done studies in various parts of the country
and the results are similar - auto insurance rates for the same person from
different companies can vary by $1,000 a year. That means that one company may
have a rate of $500 a year for you, while the next may have a rate of $1,500
for the identical policy. We offer our comparison rating and shopping service
so consumers will have the information they need to make more informed auto
insurance buying decisions."
    In business since 1937, Progressive provides consumers throughout the
U.S. and in Canada with competitively priced automobile insurance and 24-hour,
in-person services and is the nation's largest writer of automobile insurance
through Independent Agents. Most Progressive companies that write auto
insurance are rated A++ by A.M. Best. A++ is the highest rating available from
the independent company that rates the financial conditions of insurance
companies. The Progressive Corporation's stock is traded on the New York Stock
Exchange . More information about the company can be found on the
World Wide Web at http://www.progressive.com.
    AutoVantage is one of the most comprehensive free car-buying services on
the Internet, providing savings and convenience at each step in the car-buying
process. In addition to its hassle-free car-buying service, visitors to the
AutoVantage site can access expert car reviews and pricing information,
financing and leasing options, a used-car buying and selling service and an
auto insurance rate comparison service - all at no charge to the consumer.
AutoVantage is accessible via the Web (http://www.autovantage.com), where it is the
automotive anchor of netMarket, America Online (keyword: AV), where it is co-
branded with AOL, and toll-free number (1-800-AutoVantage). A recent
independent survey found that AutoVantage users save an average of 8% over a
new car's invoice price. More than 35,000 purchase requests from car buyers
are processed each month by AutoVantage, which was rated the best interactive
car-buying service on the Internet by Motor Trend magazine (Oct. 1996).
Nationwide, there are more than 1,000 dealers representing more than 3,000
franchises in the AutoVantage Network. AutoVantage is a division of Cendant
Corporation , a global provider of consumer and business services
based in Stamford, Conn. and Parsippany, N.J.