Dealers or finance companies don’t need any special licensing to participate in VIRC. VIRC is CFPB Compatible and approachable product designed to benefit all parties involved.
Buyers don’t need to qualify for VIRC or insurance because we insure the vehicle. There are rare scenarios where a vehicle doesn’t qualify for VIRC, which we lay out clearly in our master policy.
VIRC carries 100% of the risk. You submit a claim in our app by filling out a simple form, and VIRC pays you. Eliminating the need to deal with 3rd party claims process’ ever again. VIRC will mitigate the loss according to the policy terms.
VIRC operates in a number of states that allow for VIRC Insurance programs by law. For a list of states in which we are currently approved by law to operate, complete the contact below.
Depending on the state in which you operate, yes VIRC can be placed on 100% of vehicles sold. However, in states that do not allow for this, VIRC can be placed on a vehicle sold in which a buyer has not provided proof of full coverage insurance.
Speak to a member of our team.