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list of suppliers and links.
Although required by law when financing or
leasing a vehicle, the majority of your customers will want
automobile insurance for their vehicles. For many drivers,
the high cost of insurance can pose a hurdle for a dealer to make a
deal or for a customer to take delivery of a vehicle. Because this
is an important element in the sales process, dealers need to have
access to many insurance companies that can meet the needs of its
Computers establish a client's risk profile and then compares it
with historical records in the insurance company's database. Since
the laws that regulate insurance are set at the provincial level,
the province in which you live is the most important factor in
determining the cost of car insurance. The population density,
number of drivers and vehicles on the road all go into the
calculation for determining a premium. The primary factors that
affect insurance rates are age, gender and marital status.
Secondary factors include the driving record, where you live and
the year, make and model of your car.
Through the insurance companies' data, they know that 16 to
24-year-olds are in a disproportionate number of accidents. People
25 to 49 are in fewer, and people 50 to 64 are in the fewest of
all. But starting at age 65, people begin getting into more
accidents. By the time they hit 75, they are more commonly in
accidents than even teenagers! Women are in fact in fewer accidents
than men. Gender is most important in the cases of people under 25,
with young males being in far more accidents than young females.
This risk can be partially offset, surprisingly, by marriage.
Married men ages 18 to 24 are in far fewer accidents than their
single peers. The insurance companies also believe that if you've
had one accident, there is a great likelihood you'll be in a
second. If you're in a second accident, there's an even greater
likelihood that you'll be in a third. And if you're in a third,
fourth, or fifth accident in a short period of time, your insurance
rates are going to go through the roof.
If you can identify the demographic profile of your client base,
you can research insurance companies that will provide better
solutions for each profile. This will allow you to make more deals
and gross profit, improve customer satisfaction and have a
competitive edge over your competitors who ignore this business