The auto insurance analysis is done so as to measure the automobile insurance that is provided by private and government car dealers to different customers. There are a few factors that need to be kept in mind while conducting the analysis. The first thing is the check the car dealer. Different car dealers will provide different insurance plans unless the customer gets a separate insurance policy directly from the insurance company. Secondly, the insurance that is opted for is dependent on the car model and company.
The company needs to take into account the different insurance policies that are offered for different automobile series. The final thing that one needs to keep in mind is the premiums and benefits that are offered to the customer. This needs to be done in accordance with the target market that purchases the particular brand of automobiles. The analysis needs to be meticulous in its approach.
Sample Auto Insurance Industry Analysis
The YUKIO Bikes & Cars have hired MENTIDE Analyzers for the 2011-2012 analysis of the insurance policies sold in the past sales year.
Name of Insurance policy: TT Car Insurance
Analysis of: Sale of the TT Car Insurance policies from 2nd March 2011 to 1st march 2012
Areas of Analysis:
The car insurance policy needs to maintain the State Insurance Policy requirements for Automobiles and Automobile parts. Hence, it needs to keep an account of:
- Premiums offered must be below $110 per 2 months for cars
- The time period for every premium should be at least one month
- The insurance must cover all repairs and damages up to $40,000 and should be applicable 6 months of paying the premium
The TT Car Insurance Policy meets all the above insurance requirements and also offers an additional year of half the premium rate for the customers.