O.co Launches Insurance Tab

SALT LAKE CITY, July 18, 2011 /PRNewswire/ -- O.co (also known as Overstock.com, Inc., NASDAQ: OSTK), today announced that it will offer auto and home insurance quotes on the newest tab of its site: Insurance. The online retailer has partnered with Answer Financial, one of the largest auto and home insurance agencies in the United States. The new tab allows consumers in all 50 states to submit insurance information and immediately receive free, side-by-side quotes from as many as 20 leading insurance providers. To learn more about O.co Insurance visit www.o.co/insurance.

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Users of Answer Financial's service are currently reporting average annual savings of $468 on their auto policies alone(1). The service also streamlines the quote and buying process so that policies offered can be purchased online or over the phone with one of Answer Financial's licensed insurance experts.  

"This new tab underscores O.co's dedication to saving our customers money and becoming The Online Savings Engine.  Expanding our services to a new industry, and especially to insurance, which has always held a special place in my heart, is a natural extension of O.co," said O.co CEO Patrick Byrne. "O.co Insurance enables any U.S.-based customer to shop, compare and buy online in minutes making it a great resource for first-time insurance buyers, but also anyone looking to replace and save on their current policy."

"We think O.co is a great partner for our services," said Rob Slingerland, CEO of Answer Financial. "More and more consumers are using the web to save money on auto and home insurance, and the Answer Financial platform allows them to effectively shop the market and compare prices to find some of the best deals. Bringing this capability to O.co's savvy online customers is a perfect fit for our business."  

Overstock.com announced its evolution into O.co in June of 2011. O.co will continue to evolve as the online retailers brand in the coming months.

"Our customers associate 'O' with Overstock.com, which made the transition to O.co seamless. As a Savings Engine, this is the next step in adding more visibility to our new url," said Byrne.

About O.co (also known as Overstock.com)

O.co, also known as Overstock.com, is Your Online Savings Engine offering brand-name products.  The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory distribution channel.  O.co, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online athttp://www.overstock.com and http://www.o.co. O.co regularly posts information about the company and other related matters on its website under the heading "Investor Relations."  Overstock.com® is a registered trademark of Overstock.com, Inc. O.co™ and Your Online Savings Engine™ are trademarks of Overstock.com, Inc., Inc. All other trademarks are the property of their respective owners.

About Answer Financial Inc.

Answer Financial, a subsidiary of White Mountains Insurance Group, Ltd. (NYSE:WTM), is one of the largest independent personal lines insurance agencies in the country. Answer Financial offers comparison quotes and provides car and property insurance from over twenty top-rated insurance companies through its website, www.answerfinancial.com, and over the phone via its licensed agents. In May 2011, White Mountains announced that it signed a definitive agreement to sell Esurance and Answer Financial to The Allstate Corporation (NYSE: ALL), the nation's largest publicly held personal lines insurer. The transaction is subject to regulatory and other customary closing conditions, including review by antitrust authorities and state regulators, and is expected to close in the fall of 2011.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements regarding services offered through O.co Insurance and the savings available.  Our Form 10-K for the year ended December 31, 2010[, our subsequent quarterly reports on Form 10-Q, or any amendments thereto,] and our other subsequent filings with the Securities and Exchange Commission identify important factors that could cause our actual results to differ materially from those contained in our projections, estimates or forward-looking statements.

(1) Savings amount is based on a survey of people who purchased insurance from Answer Financial and responded to the survey with their estimated savings statements from October 2010 to December 2010. Average reported savings were $468 per year.

SOURCE Overstock.com, Inc.