Woolworths, which first entered the insurance market in August last year, said it would also launch home and contents insurance in coming months.
Woolworths head of insurance George Hughes said the company wanted to “make insurance easy, accessible and affordable for our customers”.
Under the car insurance offer, customers who drive only short distances will pay lower premiums, while travel insurance will include free cover for children travelling with their parents.
The company has pledged to make its policies easy to understand, using everyday language and a simple three-step application process.
“There are plenty of cheap insurance products out there but cheaper is not necessarily better when it comes to insurance and all too often customers only find that out when it is too late,” Mr Hughes said.
The cover will be provided by Insurers Swiss Re and The Hollard Group, which also provide Woolies’ pet and life insurance products.
“Our first step into the sector with Pet and Life Insurance has been very successful and has exceeded our expectations,” Mr Hughes said.
The move comes two years after arch-rival Coles began selling home and contents insurance alongside its existing auto coverage, all provided by Wesfarmers General Insurance, Coles' stablemate in the Wesfarmers industrial conglomerate.
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