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Company News

MAY 03, 2022

Caribou's new car insurance marketplace is now live

By

Caribou

4 min read

Want to learn more?

For more information, contact news@gocaribou.com.


Our GM of Insurance answers questions about Caribou’s new insurance marketplace.

At Caribou, we’re on a mission to put drivers in control of their auto finances. If you’ve experienced savings by refinancing your auto loan through Caribou, it’s time to take a look at our new insurance offering. We’ve created a digital car insurance marketplace where we shop and compare quotes for you all in one place in minutes.

Backed by a dedicated team of insurance experts, our insurance offering is now available in all 50 states offering competitive quotes from trusted national carriers including Travelers, Nationwide, Safeco Insurance (A Liberty Mutual Company), Clearcover Insurance Company, and Bristol West (A Farmers Insurance Company).

Wondering how all of this works? We sat down with our GM and VP of insurance, Jason Fromm, to answer some of your questions:

Should people consistently shop around for car insurance?

Absolutely! Monthly auto loan and insurance payments are two of the largest expenses associated with car ownership and choice matters when it comes to selecting the right plan for you. Most car insurance policies only last for 6 to 12 months, which gives you a lot of leeway to shop around and compare rates. Unfortunately, many drivers don’t have the coverage they truly need because life gets busy and they end up sticking with the same policy for years. That’s where we come in. Caribou makes it easy for you when we shop and compare quotes from a variety of trusted insurance carriers all in one place, saving you time and the hassle of having to research on your own. Whether you decide to switch plans or not, with our technology, you can feel confident that you have the right coverage at an affordable price. 

Why should I compare car insurance quotes through Caribou?

Great question! We make shopping for car insurance easy with time-saving technology. We also have a fantastic team of insurance experts that will help guide you every step of the way. We’re already helping people save over $100/month* on their car payments by refinancing. Now, we’re ensuring you have access to affordable car insurance coverage, all in a single, online site. You can go to our marketplace to review an array of coverage options in minutes and confidently choose the one that makes the most sense for you. When you’re ready to move forward, our team will work with you one-on-one to finalize the process.

How does it work?

It’s simple. To get started, input your vehicle and driver information into our online form and we’ll take it from here. We’ll shop car insurance quotes from carriers nationwide and compare these rates for you in minutes. 

Next up, we’ll pair you with one of our insurance experts who will help you review options, select coverage and complete the necessary paperwork. They’ll even remind you when your policy is up for renewal so you continue to have the right coverage long-term.

So break it down for us:

  • Go to insurance.caribou.com 

  • Fill out the online form.

  • We’ll shop and compare quotes from trusted insurance carriers for you in minutes and display affordable quotes that maintain the coverage you need. 

  • From there, select the quote you like and we’ll pair you with one of our insurance representatives who will help you switch coverage and support you throughout the process.

What insurance carriers are you working with? 

We’re thrilled to partner with trusted national carriers including Travelers, Nationwide, Safeco Insurance (A Liberty Mutual Company), Clearcover Insurance Company, and Bristol West (A Farmers Insurance Company).  

Can I bundle my auto insurance with other coverage like home and property? 

Yes! Depending on which carrier you choose to purchase your car insurance coverage from you may be able to bundle your auto insurance with other coverages like home, condo, renters and more.

To have access to insurance, do I have to refinance my auto loan as well?

No. You can take advantage of insurance and auto refinance platforms separately, or use both services to discover affordable rates.

For more information, visit our FAQs.

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Contact Details
NMLS #1746612
1.877.445.0070

Mon - Fri: 9am - 8pm EST

Sat - Sun: 9am - 4pm EST

1717 Rhode Island Ave, NW, Suite 500 Washington, DC 20036

Caribou Insurance Services, LLC
1.877.255.2660
Mon - Fri: 9am - 8pm ET
insurance@gocaribou.com


* Refinance savings may result from a lower interest rate, longer term, or both. There is no guarantee of savings. Your actual savings, if any, may vary based on interest rates, the repayment term, the amount financed, and other factors.

+ To check the refinance rates and terms you qualify for, we conduct a soft credit pull that will not affect your credit score. However, if you choose a loan product and continue your application, we or one of our lending partners will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

++ Social security number is required should you choose to move forward in the loan application process.

** APR is the Annual Percentage Rate. Your actual APR may be different. Your APR is based on multiple factors including your credit profile and the loan to value of the vehicle. APR ranges from 2.83% to 36.00% and is determined at the time of application. Lowest APR is based on loan amount of $45,000, 36 month term, and is available to borrowers with excellent credit and only in certain states. Conditions apply. Advertised rates and fees are valid as of 11/1/2022 and are subject to change without notice. Insurance savings will not result from lower APR.

Terms and Conditions apply. Caribou reserves the right to modify or discontinue products and benefits at any time without notice. Participating lenders, rates and terms are also subject to change at any time without notice. The information you provide to us is an inquiry to determine whether our lenders can make you a loan offer. If any of our lending partners has an available loan offer for you, you will be invited to submit a loan application to the lender for its review. Not all borrowers receive the lowest rate. Lowest rates are reserved for the highest qualified borrowers. We do not guarantee that you will receive any loan offers or that your loan application will be approved. If approved, your actual rate will depend on a variety of factors, including term of loan, a responsible financial history, income and other factors.

Insurance products offered through Bindable and Caribou Insurance Services, LLC. Caribou is working with Bindable who owns MyLifeProtected and MassDrive Insurance Group, LLC, the licensed agent for all products.