I looked into this kind of thing not too long ago and concluded that free insurance is illegal in most states. How are they circumventing the free insurance prohibitions?
Irregardless of the cost of insurance, in order to provide the incentive I would think that every car saleperson would have to be licensed to sell insurance.
Yes, the car salesmen would have to be licensed producers in almost every state b/c they’re advising about the availablility and conditions of insurance. Talk about an administrative nightmare.
I was thinking the same thing about the salesperson and licensing. I’m seening banks offer insurance more and more nowadays and all they do is make you call thier producer while you are there at the bank. Come to think of it the company was Allied, a Nationwide company. hmmmmmm
THE ANNOUNCED PLAN TO PROVIDE FREE INSURANCE AS AN INCENTIVE TO BUY CERTAIN MODELS OF VW’S NO DOUBT WILL ENDEAR THE COMPANY TO ITS LOYAL NATIONWIDE AGENTS.(GAG!)
THIS IS PROOF POSITIVE THAT LUNACY IS NOT THE EXCLUSIVE DOMAIN OF POSITIONS LOWER THAN WHERE THIS HAD TO BE APPROVED. I AM GLAD THAT I AM AN INDEPENDENT SO THAT I MAY MAKE MY OWN JUDGEMENTS AND EXPRESS THE SAME WITHOUT REPERCUSSION. THIS WILL ULTIMATELY COST NATIONWIDE PRESTIGE AND DOLLARS IN ITS ASSERTION TO DISTRIBUTE ITS PRODUCTS IN THIS MANNER. I GUESS THIS ACTION IS ALSO A TRUE REFLECTION OF THE VALUE THEY PLACE ON THEIR CAPTIVE AGENCY PLANT. IT WILL BE INTERESTING TO SEE HOW THIS UNFOLDS.
Nationwide gets a customer they might or
might not renew, VW sells a car and in the
2nd year another uninsured driver is on the road in their new VW that they can’t afford the insurance on.
WHERE IS THE COMMISSIONER???????????
They call themselves creative innovators but I have other words for it This is a come on sale using insurance as the leverage bar. It isn’t free. Is the insurance premium bundled in the purchase price and amortize into the loan? It probably is and will in the end be more costly then insurance purchased outside the scheme. They mention “younger” drivers will be purchasers and we all know what the “younger” driver does to loss ratios and cost.
Hm…it’s time to update the XJ6 maybe my dealer will be offering an insurance policy with it. NOT!
What if they just call it “Free” insurance but in reality they just write a regular policy and even include price differences due to underwriting. Then when they get all this information they start bargaining the price of the ‘car’ with the insurance included – So basically everyone pays a different price anyway.
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I looked into this kind of thing not too long ago and concluded that free insurance is illegal in most states. How are they circumventing the free insurance prohibitions?
Irregardless of the cost of insurance, in order to provide the incentive I would think that every car saleperson would have to be licensed to sell insurance.
Yes, the car salesmen would have to be licensed producers in almost every state b/c they’re advising about the availablility and conditions of insurance. Talk about an administrative nightmare.
I was thinking the same thing about the salesperson and licensing. I’m seening banks offer insurance more and more nowadays and all they do is make you call thier producer while you are there at the bank. Come to think of it the company was Allied, a Nationwide company. hmmmmmm
THE ANNOUNCED PLAN TO PROVIDE FREE INSURANCE AS AN INCENTIVE TO BUY CERTAIN MODELS OF VW’S NO DOUBT WILL ENDEAR THE COMPANY TO ITS LOYAL NATIONWIDE AGENTS.(GAG!)
THIS IS PROOF POSITIVE THAT LUNACY IS NOT THE EXCLUSIVE DOMAIN OF POSITIONS LOWER THAN WHERE THIS HAD TO BE APPROVED. I AM GLAD THAT I AM AN INDEPENDENT SO THAT I MAY MAKE MY OWN JUDGEMENTS AND EXPRESS THE SAME WITHOUT REPERCUSSION. THIS WILL ULTIMATELY COST NATIONWIDE PRESTIGE AND DOLLARS IN ITS ASSERTION TO DISTRIBUTE ITS PRODUCTS IN THIS MANNER. I GUESS THIS ACTION IS ALSO A TRUE REFLECTION OF THE VALUE THEY PLACE ON THEIR CAPTIVE AGENCY PLANT. IT WILL BE INTERESTING TO SEE HOW THIS UNFOLDS.
This too, shall pass.
Nationwide gets a customer they might or
might not renew, VW sells a car and in the
2nd year another uninsured driver is on the road in their new VW that they can’t afford the insurance on.
WHERE IS THE COMMISSIONER???????????
They call themselves creative innovators but I have other words for it This is a come on sale using insurance as the leverage bar. It isn’t free. Is the insurance premium bundled in the purchase price and amortize into the loan? It probably is and will in the end be more costly then insurance purchased outside the scheme. They mention “younger” drivers will be purchasers and we all know what the “younger” driver does to loss ratios and cost.
Hm…it’s time to update the XJ6 maybe my dealer will be offering an insurance policy with it. NOT!
What if they just call it “Free” insurance but in reality they just write a regular policy and even include price differences due to underwriting. Then when they get all this information they start bargaining the price of the ‘car’ with the insurance included – So basically everyone pays a different price anyway.
I’m surprised this isn’t some Progressive Insurance sceme. hah.