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How can I start my own car insurance company?

I’m looking to start my own business, and I hear car insurance is a profitable field. How do you open a car insurance company?

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Emily Maracle · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
You’ll first need to become a licensed insurance agent before you can start your own
car insurance
company. Here’s what you’ll need to do:
  1. Become licensed: Follow your state’s requirements for a property and casualty license. Most states require you to take a pre-licensing course and an exam. You will also have to do regular continuing education with your state or state-approved courses.
  2. Create a business plan: A business plan will help you secure lending and attract investors once you’re licensed. It also helps outline your vision and may be required when applying for state permits and licenses.
  3. Get a business license: Follow your state’s requirements to register a business license. You may also need to apply for additional permits and insurance licenses
  4. Start selling insurance: You may want to consider working with an established agency or buying a local company to hit the ground running.
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