10 Years in the Car Industry & Looking To Get Into Insurance

[CamZ]

Hello,

I have sold cars for almost 10 years now. 2020 really helped me open my eyes and really think about what I want to do long term. In the last 12 months I have gotten my Property & Casualty, Life, Accident and Health licenses for California. Basically no insurance experience besides 3 months doing Commercial Insurance for a larger brokerage. So I got a tiny taste and ultimately doing my own thing is what I want.

Over the last 6 months I have really looked into opportunities with Farmers, State Farm and now a franchise model with Goosehead. The more people I talk to and questions that I ask the franchise model seems to sound better and better.

I would like to open an Agency and do that in conjunction with selling cars so I can build a book without transferring completely into a new industry. Because I know basically nothing about insurance as a business and the processes (hard to really research online for me) Goosehead seems to help/handle most of that. I would love to go 100% independent on my own but my lack of knowledge and experience seems like that is not an option. Getting appointments with carriers and keeping those relationships satisfactory seems very difficult?

So I am here to learn and get some feedback as I figure that best way for me to transition into this industry.....

 

[adjusterjack]

Basically no insurance experience

That's right. Don't get ahead of yourself.

3 months doing Commercial Insurance for a larger brokerage.

That's your foot in the door. Give that a year or two until you actually know something about insurance. Write personal lines off business referrals. Give the carriers a chance to know you so you'll have better luck getting appointments when you go out on your own.

Avoid franchises. You'll be borrowing money to get into business. You'll be a slave to the debt and you'll be in lock step with whatever demands the franchisor makes of you.