olive.com Expands Mechanical Breakdown Coverage Services to Washington
December 13 2021 - 8:30AM
Business Wire
olive.comtm (“olive.com” or the “Company”), the leader in
payment services and online vehicle protection plans, announced
today plans to expand its mechanical breakdown coverage services to
the state of Washington. Vehicle protection plans cover mechanical
failure after the auto manufacturer’s warranty has expired.
olive.com’s digital platform lets consumers buy
direct and 100% online, giving them access to an assortment of
coverage and deductible options that are convenient, fit their
budget, and are operable in minutes with no inspection or waiting
period.
As part of this expansion, olive.com will offer its
“Powered by olive” platform to local and national insurance agents,
agencies, dealer groups and retailers in Washington, allowing for a
co-branded olive.com product offering.
“We’re thrilled to be expanding our services to the state of
Washington, bringing choice, transparency and a much needed product
to even more consumers across the U.S.” said Rebecca Howard,
Founder and CEO of olive.com. “Today at least 33% of car
owners could not afford $500 to $600 in automotive repairs, and 60%
would have difficulty covering a $1,000 repair expense,
demonstrating the great need for a product like
olive.com.”
With olive.com it’s easy to get a quote and purchase
coverage 100% online. Car owners can enjoy personalized rates with
three deductible options and three coverage plans, giving consumers
nine different monthly payment choices. olive.com’s plans
are convenient, as customers pay a fixed price for the life of the
coverage term and can cancel at any time. In addition, plans have
no annual mileage restrictions and are fully transferable when and
if the car is sold.
olive.com provides an essential product as owners are
keeping their vehicles for longer periods of time – the average
owner today keeps their car for 7 years – and annual repair costs
grow as vehicles age. Annual maintenance and repair costs today
average approximately $1,200 per vehicle, and these costs are
expected to continue to rise given the trends in more expensive
auto parts and labor.
This expansion will allow olive.com to continue to
deliver its product offerings to a growing addressable market
estimated to be approximately $260 billion – including 280 million
total cars on the road today, 87 million of which are between 6-12
years old.
Headquartered in Chicago, Illinois, olive.com now offers
its services in 49 states across the U.S.
For more information, visit https://olive.com.
About olive.com: olive.com, the leader in payment
services and online vehicle protection plans, was built to give
customers peace of mind. Vehicle protection plans cover mechanical
failure of the vehicle after the manufacturer’s warranty has
expired. With olive.com, consumers are now able to buy a
vehicle protection plan direct, with no pressure, from the comfort
of their home. olive.com offers a range of coverage and
deductible options to suit any budget, and their products are
approachable, affordable, transparent and user-friendly – real
choice, all digital at any time day or night. Founded in 2006 and
headquartered in Chicago, Illinois, olive.com products,
customer service, and reputation for excellence have earned it an
A+ rating with the Better Business Bureau (BBB) and partnerships
with leading insurance companies and globally recognized
brands.
Website: https://olive.com/
Social Media: https://www.instagram.com/olivecoverage/
https://twitter.com/olivecoverage
https://www.facebook.com/olivecoverage
Forward-Looking Statements
Certain statements in this communication, which are not
historical facts, may be considered forward-looking statements. For
example, estimations of potential addressable market size and other
metrics are forward-looking statements. In some cases, you can
identify forward-looking statements by terminology such as “may”,
“should”, “expect”, “intend”, “will”, “estimate”, “anticipate”,
“believe”, “predict”, “potential” or “continue”, or the negatives
of these terms or variations of them or similar terminology. Such
forward-looking statements are subject to risks, uncertainties, and
other factors which could cause actual results to differ materially
from those expressed or implied by such forward looking
statements.
These forward-looking statements are based upon estimates and
assumptions that, while considered reasonable by the Company and
its management, are inherently uncertain. Nothing in this
communication should be regarded as a representation by any person
that the forward-looking statements set forth herein will be
achieved or that any of the contemplated results of such
forward-looking statements will be achieved. You should not place
undue reliance on forward-looking statements, which speak only as
of the date they are made. The Company does not undertake any duty
to update these forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211213005127/en/
Media: Kelly Wallace press@olive.com 917-991-6308
MDH Acquisition (NYSE:MDH)
Historical Stock Chart
From Jun 2024 to Jul 2024
MDH Acquisition (NYSE:MDH)
Historical Stock Chart
From Jul 2023 to Jul 2024