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The Perks of Being a Used Car Insurance Salesman


The sale of vehicle insurance is usually limited to covering brand new vehicles. A contract is often sold by dealers as part of the purchase price. In other cases, you can avail of this same service by having it covered by an insurer.

It is seldom that you hear about used car insurance. Most people would think that a second-hand unit is no longer insurable, given the fact of its being no longer new and that its value has considerably decreased since your purchase. However, surprisingly, there are still those companies that do offer indemnity coverage for all kinds of property, including second-hand vehicles.

The basis of insurance is insurable interest. This simply means that the property you want to be covered by an indemnity agreement should be valuable. It also means that if your property should get damaged or destroyed, you will suffer a great loss such that you want it insured. This value is not really present in used units, since such vehicles have a reputation of having hidden defects or have outlived their usefulness. These facts alone would prevent you from getting insured.

By this reason alone, you can already see what benefits lie ahead of being a used car insurance salesman. Because of the weakening economy, a significant number of aspiring owners have considered buying a second-hand car instead of getting a brand new one for the very reason that it is far cheaper than a new one. This means that they may also be looking for insurance coverage which is most likely not available with usual insurers. This also means that you, as a used car insurance salesman, already have a clientele ready and willing to avail of your services.

The good thing about this is that not all used vehicles are scraps of metal ready to be junked. There are still ones out there that are good as new. In fact, a brand new car which has been foreclosed is considered used and automatically depreciates in price. As a used car insurance dealer, you can have more flexibility in determining the extent of insurance coverage, as well as making a quotation that may be more beneficial for both you and your clients. Not to mention the profits by way of commission you get for every sale, you also get to make your own assessment as to the value of the car. Even a used vehicle has some value and this can be your basis. There is no need to get a certification from the dealer that the thing is worth so much. You can easily ascertain the value of a car through simple research and experience.