Australia's supermarket giant Coles today launched a car insurance product.

Backed by parent conglomerate Wesfarmers, the Coles Car Insurance is flexible and offers extra benefits and savings for customers, the company said in a statement. Additionally, it lets customers triple their standard four cent Coles fuel discount receipt once every month for a year.

Coles Car Insurance will be available both online and through a dedicated call centre. It also offers choice of repairer, lifetime guarantee on repairs by authorized repairers as standard and flexible cover options. Customers can generate Flybuys points on purchase, and will receive a five percent discount off the first year's premium if buying online.

According to the company, customers taking out comprehensive cover will also have their groceries insured should these be damaged in a car accident.

Coles Chief Financial Officer Tony Buffin claims the company's insurance program give clients a quality product at a good price.

"Our customers tell us that they expect Coles to deliver great value and quality products, and with the backing of Wesfarmers Insurance, we think we've created a unique and compelling car insurance product for Australians," Mr Buffin said.

"Coles Insurance customers can build a tailored insurance product - by selecting the cover options that matter to them."

"We've designed our Coles Insurance website to suit the customer. Just six questions and 30 seconds of your time will show whether Coles Car Insurance can save you money and improve your cover."

Wesfarmers Insurance Managing Director Robert Scott said, "As Australia's fifth largest general insurer, this launch continues to confirm our long-standing commitment to the insurance needs of Australians."

"With the costs of motoring increasing, consumers benefit in so many ways with Coles Car Insurance. In addition to great value, there is the peace of mind that comes from insuring with one of Australia's largest and longest serving insurer."

On Monday, Wesfarmers posted a 4.3 per cent increase in sales at its Coles supermarket business.