The DealerPolicy Marketplace takes the laborious process of visiting multiple insurance company websites and reduces it down to a few short minutes. Instead of filling out the same information over and over in hopes to receive a competitive quote, participating dealers will now have the ability to provide their customers with up to 20 (depending on the region) competitive insurance quotes instantaneously.
Dealers taking advantage of DMS and/or CRM integration will be able to provide their customers insurance quotes with minimal data entry required.
Purchasing a vehicle can be both an exciting and stressful experience. Although often overlooked in the car buying process, insurance is often the second largest cost incurred by car owners and deserves your attention.
The price you pay for insurance can greatly affect your buying power at the dealership and the quality of vehicle that you can afford.
Insurance is NOT created equal. Carriers are vastly different in the way they price insurance. Many consumers are unaware of the many factors that influence the cost of an insurance policy. Having the ability to compare rates and benefits among multiple carriers will routinely lead to better protection and greater savings.
A direct writer is an insurance company that doesn’t have independent representatives to write their business. Their employees or contracted sub-contractors are the ones who write and service your policy. Progressive and Geico, for example, are direct writers (although Progressive and Travelers also offers their products through independent agents in some states). As a customer, you call these companies directly and it is their employees who service your policies. Unlike independent agents who represent multiple companies, the direct writer can only place your business within their own company. This is sort of like an ice cream shop selling only vanilla ice cream.
Most independent agents represent multiple companies and will shop your policy to find the best coverage at the best price. If there is a problem between you, the policyholder, and the insurance company, the independent agent will assist you. Independent agents can review your policies prior to renewal and can remarket (shop) your policies with other companies that may offer better pricing and coverage. Independent agents also can assist, support and advise you during a claim. Many direct companies have claim adjusters that are salaried employees. Independent agents form a relationship with their clients and policyholders are usually assigned to one customer service representative or have a staff to assist you personally.
Price – While it often makes sense when buying something to cut out “the middleman”, this isn’t the case with insurance. Insurance carriers are the ones who pay the agent, not you. You have undoubtedly seen the massive amount of advertisements for auto insurance that costs carriers billions of dollars annually. Alternatively, carriers can have business fed to them from insurance agents without having to pay for the soaring cost of advertising. This enables carriers to offer much better rates through the agent channel. Some carriers offer the same policies through both channels. Interestingly enough, the pricing through the agent channel is often substantially better. Also, many of the most competitive carriers ONLY offer coverage through the agent channel.
Selection – Agents have at their disposal access and the ability to compare prices and coverages with many carriers with no additional effort. Through the DealerPolicy Marketplace, your local dealership is now also able to show you pricing, carriers, and other policy differentiators that had previously only been available to them. And since carriers have widely varying formulas for how they price, the more carriers you have competing for your business, the better the better off you are. (both price and coverage)
Advocate – Agents are licensed by your state and shoulders the responsibility of acting as your own personal advocate and will put your interests first. This is not the case with an insurance carrier. Even though the carrier pays agents, they actually work for you. These agents deal with this stuff daily and that experience can help a great deal when it comes to determining what policy is best for you.
Better Coverage – Price isn’t everything. The coverages offered in a policy can vary greatly from company to company. Agents can assist in pointing out what you should be aware of and deciding the company and/or policy that fits your unique needs. This important advantage will ensure that you are properly covered and protected in the case of an unexpected accident or loss.
The DealerPolicy Marketplace offers dealers and their customers access to the largest pool of leading insurance companies by partnering with Certified Insurance Agencies and the insurance companies they represent. Technically, insurance policies are purchased directly from the insurance carriers themselves. However, participating agencies and their licensed insurance professionals will represent the customer and advocate on their behalf when selecting the best company, coverages and policies.
While finding the right carrier is clearly important, outstanding customer service and support are equally as important when deciding which company to do business with.
Insurance is not only costly and necessary but also important. We believe that you deserve to have an advocate working on your behalf to ensure that you are receiving the best possible pricing and coverage year in and year out. Companies are ever changing and often conduct annual rate reviews.
DealerPolicy Marketplace customers will enjoy the uncommon benefit of a remarketing process that incorporates annual policy reviews. In the event of a significant rate increase our certified agency partners and their agents have the technology necessary to shop your insurance among multiple carriers to be sure you are receiving the best value, not just on day one but each and every year thereafter.
There are many web-based insurance “comparison raters” using aggregated data to estimate insurance premiums. This leads to inaccurate rates, wasted time and frustration.
The DealerPolicy Marketplace is one of the few companies having access to live insurance rates directly from the carriers themselves, allowing us to consistently deliver accurate results.
Although our technology provides the most accurate rates available, it is important to remember that insurance premiums are only as accurate as the information the customer enters. If the customer does not include, or simply forgets to add a driving incident or claims to be single when he or she is actually married, the premium could go up when the insurance carrier reviews the customer’s insurance report and/or motor vehicle records. Moreover, it is also possible that initial insurance premiums could go down when the agent applies discounts such as good student, home/auto bundle, telematics, prior insurance, occupation, education and many more depending on the insurance company. Customers will be connected with a qualified insurance professional to receive a finalized rate.
DealerPolicy Marketplace customers will have access to the most competitive Home, Auto, Boat, RV, Umbrella, and Business policies on the market.
The answer is an unequivocal NO. Insurance premiums are highly regulated at the state level and determined by the carriers themselves.
Yes, our insurance professional will be happy to assist you with the cancelation of your current policies.
Every dealership has customers that would greatly benefit from saving money on insurance. In fact, beyond the car payment, auto insurance is often the second largest cost incurred by car owners.
Recent studies have shown that consumers consider insurance to be one of the most important factors when deciding to purchase a vehicle.
When customers save money on insurance, they can then afford to purchase a newer upgraded vehicle and/or an extended vehicle service contract or other valuable dealer products that they may not have been able to afford prior to insurance savings.
For every $20 saved by the customer they will gain an additional $1,000 in buying power.
The average DealerPolicy customer will save $720 annually or $60 monthly, leading to $3,000 in additional buying power.
Certified Dealerpolicy Marketplace dealers have also experienced an increase in positive customer reviews, many of which reference their insurance experience.
If you are a licensed auto dealer and are interested in becoming a Certified DealerPolicy Marketplace, please contact a DealerPolicy customer service representative at [email protected]
Yes. If you are a licensed auto dealer and are interested in learning more about integration capabilities please contact a DealerPolicy customer service representative at [email protected]
We highly recommend using Chrome or Firefox with the DealerPolicy Marketplace. You can download those browsers for free by clicking on the following links: Download Chrome Here, Download Firefox Here.
The DealerPolicy Marketplace may not function properly with Internet Explorer or Edge because of IE’s lack of WebRTC support.
Please direct any technical inquiries to [email protected]
No, dealers are not required to obtain an insurance license to use the DealerPolicy platform. DealerPolicy works closely with Certified Insurance Agencies and their licensed insurance professionals.
Unlicensed dealer personnel are strictly prohibited from discussing insurance coverages or recommending insurance companies.
Nobody wants to spend his or her entire day inside a dealership. We know that and are keenly aware of the importance of expediting the process.
A typical point of sale auto insurance transaction should take 15 minutes or less. However, it is possible that a transaction can take longer if the customer decides to purchase multiple policies or if complications arise. The insurance interaction is primarily handled between customer and insurance agent allowing dealer personnel to be freed up to focus on their work.
Every insurance customer is unique. Our trained staff will assist the customer in receiving only the necessary (often just auto) insurance at the point of sale so that the customer can leave the dealership and enjoy their new vehicle purchase. Additional insurance needs such as home, motorcycle, boat, RV, umbrella, and more will usually be handled during a scheduled appointment between the customer and insurance agent.
DealerPolicy will offer Certified DealerPolicy Marketplaces the opportunity to save on their dealership policies by offering access to the most competitive dealer focused insurance markets. Coverages include general Liability, professional Liability, dealer physical damage, garage-keepers, commercial auto, umbrella, worker’s compensation and more. Please direct all inquiries to [email protected]
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