Are you having a hard time selling used car insurance? It is not true that there is no market for it. Statistics show that the sales of secondhand cars are far exceeding the sales of brand new cars in the last five years. This can be attributed mainly to the steady decline of the global economy. It is more difficult now to finance a brand new car rather than just settle for a secondhand one.
If indeed there is an abundant market of used car owners, then why is used car insurance not so popular among them? Many of these car owners do not actually realize the importance of insuring their vehicles. Their common mindset is that the insurance will just be an additional expense to their already depleted budget. They bought secondhand car in the first place because they could not afford a brand new one. Their final thought would most probably be that no thief will take interest in their car.
As an agent, your job is to make these people realize that they are not exactly right. Used car insurance is just as important as any insurance for a brand new vehicle. Imagine this scenario. Two cars are side by side on the street, one is brand new and the other is used. These two cars have equal risks of getting into a road accident. Both cars could be hit by a truck driven by a drunk driver.
As for robbery, given today’s difficult times, even thieves will target a secondhand car for as long they will make money out of it. In fact, a thief could probably hardly distinguish a brand new car from a used one. The only main difference between the two is that a secondhand car user is a second owner already. Apart from this, there are no other obvious biases that will discourage a thief to skip your used car. Truth is, no car could be on the road and be totally immune to risks. Every car needs to be insured for safety and protection.
The problem with budgets and making ends meet is a perennial dilemma to many households. However, one should also think about tomorrow rather than just today. Buying a used car might be good, but getting used car insurance is even better if one considers the fact that his vehicle is exposed to many risks whenever he drives. Part of budget allocation is also computing for future theoretical costs. Do not be caught fishing money out from your own pocket when you can get it from an insurer instead.
