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How to Own an Auto Insurance Franchise

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How to Own an Auto Insurance Franchise

Owning an auto insurance franchise can be a lucrative way to reach your career goals while providing members of your community with the coverage they need. If you are a professional looking for the opportunity to own your own business while having the name recognition and support of the best car insurance franchise behind you, read on and learn about auto insurance franchise opportunities through Freeway.

1. Start With a Trusted Partner

As a new franchisee, you will want to go with an established brand for several reasons. You want a partner who has a depth of expertise in areas where you may be less knowledgeable. You’ll want to be able to offer your customers a variety of options for auto insurance (and perhaps cover their other insurance needs, too). And, of course, name recognition is huge. The Freeway name exudes trust, the most important quality for insurance. Freeway Insurance was founded in 1987 and is one of the largest privately hosted insurance distribution companies out there. We are an experienced player in the multi-billion-dollar U.S. insurance market and have more than 2,000 agents in over 500 Freeway office locations. Freeway is part of Confie, the largest personal lines agency in the U.S. Confie is the only independent agency focused on personal lines insurance that consistently ranks in the Top 10 Property/Casualty agencies in the U.S. We offer products including auto, home, life, renters, health, motorcycle, and watercraft insurance.

2. Nonstandard Auto Insurance Is Big Business

With more than a third of drivers using non-standard auto insurance to regain driving privileges, Freeway Insurance provides an essential service to an immense potential customer base. Nonstandard auto insurance (sometimes known as high-risk auto insurance) is a tool that many people need. We all know that carrying auto insurance is a legal requirement if you own a car. For drivers who need nonstandard auto insurance, it can also be an important step to moving forward in their lives. There are many reasons why a driver may be considered high risk. Sometimes it’s based on issues regarding their driving record, like having been convicted of driving under the influence (DUI) of drugs or alcohol. Perhaps they had multiple violations, such as speeding tickets. But there are also many other reasons why a driver may be considered high risk that has little or nothing to do with their actions behind the wheel. These can include:
  • Being single
  • Having poor credit
  • Being an inexperienced driver
  • Being elderly
  • Driving a sports car
  • Living in a high-density city
Regardless of whatever the person’s situation is today and whatever happened in the past, they need car insurance to follow the law, stay safe, and have peace of mind. As you can imagine, customers who need nonstandard auto insurance sometimes struggle to find the knowledgeable support and customer service they deserve. By matching them with the proper auto insurance for their current situation at a great rate, you are providing a valuable service while you build your business.

3. Get the Training and Support That You Need

At Freeway Insurance, your trusted partner is not just a key name to have on your door with products to deliver to your customers. We support you from the very beginning with top-tier training programs and ongoing support. We deliver training in all its forms: virtual training, classroom training, and on-the-job training to make sure that you are prepared to succeed in your new professional adventure. After all, that 34 years of experience has taught us a lot, and as your partner, we want to share it with you. We also provide our confidential operations manual built from decades of experience in the insurance industry. We ensure you have the foundation you need for success as an independent auto insurance franchisee.

4. Get Clients and Keep Them

There is nothing more fundamental to owning an auto insurance franchise than going out and getting clients. Many of your customers will find you through your website, but becoming a valued member of the community who is known for dealing with customers fairly and getting them great rates will also go a long way toward bringing in and keeping new customers. You’ll have a storefront footprint as part of the brick-and-mortar neighborhood, while also understanding the importance of an online presence. How you position yourself on your website and how you participate in different social media channels in your individual community will create a local brand awareness that will help drive people to your site and turn prospects into customers. Never stop looking for new customers, whether it’s at a community meeting, the grocery store, or a social occasion. You never know who will become your next policyholder. As a seasoned professional who is ready to invest your time, energy, and hard-earned money into the new venture of becoming an auto insurance franchisee with Freeway, you know the value of customer service. It can take time to gain a customer, and yet one can be lost in a second with poor service. That’s why you are smart enough to constantly look for new customers while delivering an optimal customer service experience for them. There is nothing like continuing to provide great service and great products to cement a customer to your firm. As a sales professional, you also know the value of referrals. Despite our high-tech world, many customers will come to you because they heard good things from another one of your customers. And when you do get to interact with your customers over the phone or face to face, that “extra” level of communication you can’t get from a screen will nurture those business relationships. If there is a “secret” to your future success in the auto insurance industry, it is service, service, and service. Becoming an owner of a car insurance franchise is an investment in your future that can pay huge dividends down the road. To learn more about this exciting opportunity, Contact Freeway Insurance today!