Instant new vehicle insurance
Buying a car is a long and arduous process. I know, because I’ve done it several times. One time I was at the dealership for five hours because my salesperson told us he’d be right back, and then went on a two hour lunch break. And that isn’t a unique experience, either. Another thing that clogs up the process is that most car dealerships won’t let you drive off the lot until you get vehicle insurance for your new car. This means having to call up your insurance company and go through all the trouble of giving them your information, getting a quote, and all of that, while you’ve already been on that lot for hours. A bunch of dealerships in California have found a solution for this hassle.
In these dealerships, they now have a way that you can drive off the lot with your car the second that the sale is finalized, without having to go through the trouble of calling up for that needed comprehensive and collision. Called TurboCoverage and operating out of Palo Alto, this new company is giving uninsured drivers who are buying a new car a way to get their vehicle insurance immediately when at the car lot, instead of having to spend yet another hour just on the phone.
Right now TurboCoverage is only selling their policies to people that are in higher risk pools and have more trouble getting insured, as well as people who don’t have vehicle insurance in the first place. According to the company’s CEO, once they’ve gotten their foot secured in what they call the non standard market, they tend to move on to marketing for lower risk drivers.
Twenty percent of the people who go to buy a car have to buy their insurance right there at the lot, claims TurboCoverage research. That’s a total of three million policies bought from the dealership. Now twenty five of the lots in California have TurboCoverage to help expedite this process, and by next year there will be another sixteen states under the TurboCoverage banner.
As opposed to the usual hour, getting car insurance through TurboCoverage only takes ten minutes, and you get to choose between several different car insurance companies. Right now they only have three different vehicle insurance companies that work with them, but they are working on getting about five more to expand the purchasers’ options.
TurboCoverage is essentially a company for the sell of vehicle insurance, not for the provision of vehicle insurance itself. They get their profit from commission for every sell and also a broker fee from the car dealerships. The dealerships that work with TurboCoverage have little kiosks in them so that all the buyer has to do is go up, sit down, grab the phone, and they’ll immediately be talking with a TurboCoverage sales representative. The salespeople at the dealership have no part in the process, allowing the buyer a lot more freedom so long as they stay within the terms of their lease.
There are several ways for a customer of this company to pay for thei new coverage. They can go with either a credit card or an electronic check so that the purchase is instantly finalized. Then they are sent two copies of their insurance card through the fax machine, one of which belongs to them, and the other of which goes to the car dealership. It’s simple!
Cheers,
Fashun Guadarrama.
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