Agency Fees, do you charge them?

Aug 13, 2007

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Agency Fees, do you charge them? Comment..

  1. Yes, on some products

    2 vote(s)
    33.3%
  2. No

    3 vote(s)
    50.0%
  3. What?

    1 vote(s)
    16.7%
  1. chabat124
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    chabat124 New Member

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    Agency Fees, do you charge them?
     
  2. David C
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    David C Guru

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    I'm not sure if I do or not.
     
    David C, Aug 13, 2007
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  3. Crabcake Johnny
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    Crabcake Johnny Guru

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    What would the fees be for?
     
  4. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    I have never charged a penny in 27 years.

    Kind of a strange first post...
     
  5. tommyk
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    I have heard of some agencies charging fees to independent agents that work out of their office. They say it helps offset the rent, utilities, phones, etc. I don't know what else they would even think about charging....I had an agency that wanted 30% of the commission for what I did and the more I did the large percentage of they wanted up to 50%...needless to say...just could not do that...I was always told the more you did the bigger piece of the pie you got...anyway: "that's all I got to say about that":biggrin:
     
    tommyk, Aug 13, 2007
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  6. JRoot
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    I charge broker fees to certain P/C clients. I.E. Contractors who need additional insured certs issued throughout the year.

    I've never charged a fee for life/health.
     
    JRoot, Aug 13, 2007
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  7. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    Oh. I thought the question pertained to fees that the Agency charged the customer.
     
  8. Sam
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    Sam Founder Administrator

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    I think it is pretty common on small p&c policies, to build in a small agency fee. Lets say someone flips cheap houses, and they take out a policy with total premiums of $400 and they will probably cancel within a few months. If you don't charge a fee, then you can lose money, or just make 20 bucks on the policy, so they build in a $50 fee for their work.
     
    Sam, Aug 13, 2007
    #8
  9. WBunch
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    WBunch Super Genius

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    That sounds resonable...As for Life, I do not charge fees but investments I have a fee structure. And for the agents in the office, they do share in the office expenses for phone, internet, copier toner, and printer ink. They dont mind b/c they are not charged rent..which could be worse..
     
    WBunch, Aug 13, 2007
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  10. midwestbroker
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    midwestbroker Guru

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    I know an agency that charges for office space, but that is more like sub leasing then fees in my mind.

    But then again, in my mind a lot of things are different.
     
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