How to Become a Car Insurance Broker
Brokers are independent insurance agents who represent many insurance companies at once.
This way, they can offer a customer the best possible insurance rates and coverage. When working as a car insurance broker, you'll be required to analyse the rates and coverage for several car insurance companies and compare them to the needs and budgets of your customers.
Understand the work environment of a car insurance broker and what it will take to be a successful insurance agent. In order to meet with clients who work during the day, you may be required to make evening or weekend appointments. It's also possible you'll spend all day meeting with clients, making it necessary to work evenings doing paperwork and preparing for future appointments. Depending on the demands of the agency, you may need to put in more than a 40-hour week to meet with all your clients and complete all the necessary paperwork. You should also be sure that becoming a car insurance broker, as opposed to other types of brokers, is the best career path for you. You should be somewhat familiar with how the car insurance industry operates, and you should have a car insurance policy yourself. To learn more about car insurance, schedule informational interviews with a few car insurance brokers in your area.
Complete the educational requirements needed to become a successful car insurance broker. After receiving your high school degree, enrol in an accredited university, majoring in business or economics. In order to excel in your college coursework, make sure you take relevant classes offered by your high school, such as business or financial classes. While in college, take relevant courses, including finance, mathematics, business law, marketing, economics, and public speaking. If offered, take courses offered about insurance, and pay special attention to the portion of the class devoted to car insurance.
If you were successful in a sales job during high school or after graduating, you may get a job as a car insurance broker at a car insurance agency without a college degree, but you will have a better chance of obtaining employment and promotions if you have a degree.
Visit the National Association of Insurance Commissioners' website to learn the specific requirements for licensure in your state. As a car insurance broker, you will most likely be required to pass several state exams in order to receive your license. You may also need to complete prelicensing courses and to continue your education throughout your career.
Contact car insurance agencies in your area that may be hiring car insurance brokers after you receive your license. You can also find job openings by visiting online job boards or looking in the classified section of your local newspaper. Once you find agencies that are hiring, submit your resume. If you have a difficult time getting hired by a car insurance agency, consider obtaining temporary employment in a related field in order to gain sales experience. Customer service positions are also viewed as relevant experience by insurance agencies.
Once you obtain a job as a broker with a car insurance agency, take advantage of all the training that's offered. Also, be sure to pay close attention while being trained by or job shadowing a fellow employee. Watching a car insurance broker work firsthand is invaluable in developing your own skills. While working with a fellow broker, you'll learn about the policies of your agency, the best way to communicate with new and existing clients, and how to write car insurance policies.