2006-06-18 19:02:15 · 4 answers · asked by ralston j 1 in Business & Finance ➔ Insurance
First, you have to get a license to sell any type of insurance, which will involve taking a state board exam. Second, you'll need a lot of extra money to be able to pay out any claims - just as a Casino has to keep extra money around to pay for winners, even on the first day they open. If AAA is big in your state, they will probably put up some resistance to you. Insurance companies have to be approved to sell in their state in which they want to do business - and believe me, insurance companies will lobby against newbies, they don't want any competition, not even a small mom and pop setup. Good luck!
2006-06-19 00:15:03 · answer #1 · answered by Fun and Games 4 · 0⤊ 0⤋
The first thing would be to have enough money to pay for the car you are covering.
For example, if you want to sell insurance for a $50,000 BMW you obviously need to have $50,000.00 in the bank to pay your customer.
If you want to sell insurance for 2 BMW you obviously need to have $100,000.00 in the bank.
By the way, do not sell any insurance to any Cadillacs or you will lose your money.
2006-06-20 14:51:04 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Start with hiring one of the Big Four accounting firms. They will help lead you through the process.
2006-06-20 23:04:10 · answer #3 · answered by fcas80 7 · 0⤊ 0⤋
With a license and a TON of money.
Good luck with that.
2006-06-20 20:30:32 · answer #4 · answered by Anonymous · 0⤊ 0⤋