Quote:
Originally Posted by VDBimmer
Yea I think this would make them some serious cash, the guy from the video said something like insurance for 1 day is in the 400s for a car worth about 50k so lets assume that the average is like a car worth of 35k meaning to insure it on the track for 1 day you pay like 300 dollars for instance.
Lets say you get 50 insurance buyers in a day once this thing becomes more popular (just an estimate) that'd be 15000 thats 15000 every 50 buyers, times ten thats 500 buyers for 150k$. Now with your estimation of 1 person crashing in those 500 lets say they buy him a whole new car which is the worst case scenario then it'd be 35k (the average we're using) that is 115000 dead profit right there  |
Your numbers are way off due the fact that the underwriter charges a set percentage on each policy written and the margin at the broker level is actually fairly small.You would be surprised at the true numbers of this business.