Grocery giant Coles has launched a car insurance product backed by parent conglomerate Wesfarmers.
Grocery giant Coles has launched a car insurance product backed by parent conglomerate Wesfarmers Ltd.
Coles chief financial officer Tony Buffin said Coles Car Insurance was a flexible product that offered a lifetime guarantee on car repairs.
"Coles Insurance customers can build a tailored insurance product - by selecting the cover options that matter to them," Mr Buffin said in a statement on Tuesday.
Coles said its car insurance would offer a lifetime guarantee on repairs by authorised repairers as standard and flexible cover options.
Customers taking out comprehensive cover would have their groceries insured if they were damaged in any car accident, it said.
Wesfarmers Insurance managing director Robert Scott said the company was already a major insurer of motor fleets, but was now entering the mass market.
"We're deliberately not targeting this as being the cheapest insurance in the market, it will be very competitively priced but it will offer great value and quality," Mr Scott told AAP.
"Our offer is aligned with what Coles' customers want, which is great value and quality products."
On Monday, Wesfarmers reported a 4.3 per cent rise in sales at its Coles supermarket business.
Wesfarmers shares were up 28 cents at $30.36 on Tuesday.