Detroit-based insurance agency shells out 6 figures for domain name.
L.A. Insurance has purchased the domain name LAInsurance.com from NameMedia for $100,000. Although the number may seem high for a geo insurance domain name, this deal makes perfect sense for the buyer. (As it turns out, “L.A.” is not a geography to this company).
L.A. insurance has 150 locations and currently uses the domain name LAInsuranceAgency.com. It’s no doubt that a number of its customers type in LAInsurance.com when trying to find it. With 150 locations, the purchase price comes out to just $133 per store for the next five years. That’s not bad for the added traffic and business this domain will deliver. The company is actually based in Detroit, not Los Angeles (although it does have stores in California). It also runs a chain of cash advance stores.
The name servers for the domain have not yet changed to point to the company, but the whois record shows L.A. Insurance’s founder as the owner.
Here are other notable sales by NameMedia, parent company of BuyDomains and Afternic, this past week.
bandh.com $20,000
competicion.com $10,000
investorchallenge.com $6,300
DropshipCLUB.com $6,250
musicacademy.com $6,000
shopbest.com $5,400
meworld.com $5,188
onlineaccountingdegree.com $5,130
classroomconnection.com $5,000
etico.com $4,788
cios.com $4,500
pedireito.com $4,400
bachelorofscience.com $4,388
balancethebudget.com $4,288
globalenvironmental.com $4,050
uswills.com $4,000
traveldesign.com $4,000
David J Castello says
Smart. Corporate American is slowly catching on.
Patrick McDermott says
Andrew,
Any idea if those names listed above came solely from Name Media’s stock?
Andrew Allemann says
Patrick, they don’t tell me directly. But you can do a historical lookup on DomainTools. LAinsurance.com was definitely a NM domain. DropShipClub.com looks like it might have been another person’s domain.
Donny says
Nice sale… This puts any state geo-insurance name out of reach. Nevadainsurance, Californiainsurance etc.
Steve M says
Actually, Donny, I highly doubt it.
This was a “one-of” actual-end-user deal unlikely to be replicated in the future(though I wish all the geoinsurance.com owners the best).
Kudos to the savvy NM folks for selling a name likely worth no more than 10k on the wholesale market.
Domain Superstar says
This is not a sale that I would ever lump into the geo domain category although I certainly think that geo domains have a good bit of value.
donny says
Steve,
You will not find an owner of a state insurance name with a population over 2 million selling for less thank 50k period. I have tried. Californiainsurance try 250 to 500k. Insurance clicks go for 5 to 8 bucks for auto insurance. If you can find a state insurance name for less thank 50k I will buy it.