Under the Motor Vehicles Act of 1988, every vehicle must have insurance for it to be driven on the road. Nowadays, almost everyone has a vehicle, and becoming a vehicle insurance agent is an attractive job opportunity.
As vehicle insurance agents, individuals can earn high commissions based on the premiums they can collect. Since a lot of people own some kind of vehicle, vehicle insurance agents will have no difficulty in finding customers or clients to sell insurance policies.
There are three types of vehicles policies:
- Comprehensive policies for four-wheelers or two-wheelers, or any sort of private vehicle.
- Comprehensive policies for commercial vehicles.
- Standalone third-party liability policies for all types of vehicles.
In this article, you will find out how you can become a vehicle insurance agent and the benefits of becoming a vehicle insurance agent.
How to Become a Vehicle Insurance Agent?
If you want to become a vehicle insurance agent, you can register with a company selling vehicle insurance policies.
If you are still wondering how to become a vehicle insurance agent, there are also some necessary criteria you have to fulfil. You must undergo mandatory classroom training for a specific number of hours, appear for an examination and then pass it. After all this, the state authorities will issue a licence for the individuals, allowing them to practise as vehicle insurance agents.
An alternate way of becoming a vehicle insurance sales agent is to become a pos insurance. This would allow you to become intermediaries and sell vehicle insurance to customers.
When we are talking about why one should become a vehicle insurance agent, we are mainly talking about what benefits the individual can achieve by becoming a vehicle insurance agent.
Becoming a vehicle insurance agent has its own perks. Vehicle insurance agents act as communicators and facilitators between the vehicle insurance company, clients, or customers.
The Indian insurance sector has untapped potential to grow, and the purchase of vehicles has only grown in the past few years. Both the insurance and automobile sector have immense potential to grow and offer opportunities to individuals looking for jobs.
Why Should You Choose to Become a Vehicle Insurance Agent?
1. Start earning at 18
The basic requirement for becoming a vehicle insurance agent is for the candidate to be at least 18 years of age. After passing the 12th standard in India, an individual can complete 15 hours of training and sit for the IRDA insurance exam. After this, the state authorities will issue a licence allowing them to practise as vehicle insurance agents.
2. No investment
There is no prior investment required to become a vehicle insurance agent. All you need is to give the appropriate amount of time and effort. There is no upper cap on the income generated.
3. Learning opportunities
When you become a vehicle insurance agent, you have the opportunity to learn from experts in the industry and grow in their fields. The more you learn, the more you will be able to hone your skills and have the potential to grow as a professional.
4. Stable income
When you become a vehicle insurance agent, you have control over your income, and can earn a stable income to lead a comfortable lifestyle.
5. Recognition and rewards
Sometimes being a vehicle insurance agent can be a very self-fulfilling job. In this field, you can win awards and receive recognition for your work.
To sum up, the job of a vehicle insurance agent is satisfactory, which would get the individual a stable income and is overall rewarding. It will also allow you to find and grow professionally according to your own potential.