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always_hot
Mar 27, 2008, 11:09 AM
NOt sure if this is in the right place but does anyone know how and what you would have to do in order to open up auto insurance company. Just a small one and around how much would something like how much that would cost to get going.

excon
Mar 27, 2008, 11:16 AM
Hello always:

It depends.

Assuming you have your licenses, you could do it by opening an office in your bedroom and advertising online, and going door to door. You can work the phones... You can hand out flyers...

Or, you can go up from there. You can get an office, and buy advertisng on big billboards and on TV.

excon

ScottGem
Mar 27, 2008, 11:16 AM
Do you want to opne up an auto insurer or an auto insurance brokerage? Those are very different things. To be an auto insurer you first have to have capital. You need to have a reserve to pay claims. Second, insurance companies are licensed by the state, so you would have to apply to the State Dept of Insurance for a license. They will tell you all the requirements you have to meet.