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Jblack07
Guest
which would you start? any experiences here? commissions and support?
new poster here..interested in scratch or buying a book/agency.
new poster here..interested in scratch or buying a book/agency.
Not a P&C guy myself however, I have heard that Allstate, a couple years back fired ALL of their agents (only on paper) and then rehired them so they could get out of contractual compensation (compensation which favored the agents)...the phrase Allstate agents say is "You pay allot for the blue sign".
Nationwide, from what I hear gives NO training..Kevin Lynch over at financial-planning.com built a agency with them and does not recommend them today...you may want to post on that board asking for his insight in the P&C arena.
State Farm is a Top Tier company and have good training/support benefits for your staff, and salary assistance for you and your staff etc...
Farmers is also a place you might want to look at above the two you have already mentioned.
Country Insurance & Financial Services also does P&C as their "chasse" product however they are moving toward a Life/planning platform. They also have a salary of 35k for the first 5 years then commission only after that (if you want too).
Personally, I'd give State Farm, Country and farmers a look (and in that order). I would never work for Allstate for what I know about them. Nationwide has good brand recognition though you will be own your own to hit some pretty steep numbers in production; I think that is suicide in this business...you need support when you are new.
Best of Luck,
Nak4Life
Nationwide, from what I hear gives NO training..Kevin Lynch over at financial-planning.com built a agency with them and does not recommend them today...you may want to post on that board asking for his insight in the P&C arena.
State Farm is a Top Tier company and have good training/support benefits for your staff, and salary assistance for you and your staff etc...
Farmers is also a place you might want to look at above the two you have already mentioned.
Country Insurance & Financial Services also does P&C as their "chasse" product however they are moving toward a Life/planning platform. They also have a salary of 35k for the first 5 years then commission only after that (if you want too).
Personally, I'd give State Farm, Country and farmers a look (and in that order). I would never work for Allstate for what I know about them. Nationwide has good brand recognition though you will be own your own to hit some pretty steep numbers in production; I think that is suicide in this business...you need support when you are new.
Best of Luck,
Nak4Life
- Thread starter
- #3
J
Jblack07
Guest
thanks
unfortunately, the 3 alternates you mention are not in my area. State Farm is not doing any new biz in the northeast state i am in.
so its really down to all-state, nationwide, or insurance brokerage independent.
unfortunately, the 3 alternates you mention are not in my area. State Farm is not doing any new biz in the northeast state i am in.
so its really down to all-state, nationwide, or insurance brokerage independent.
I suppose that would rule out the later three, and leave you with allstate or nationwide. I forgot to mention (though they may also not be in your area) American Family.
Between the two your already looking at, I would gravitate toward Nationwide however, there is one more option and that is to go work for and Independent P&C shop.
You could work under his/her appointments, learn the P&C side of things and then go out on your own if you were so inclined to do so at that point.
One cannot just go out and get appointments like you would in Life or Health sales. P&C companies will only look at you if you have proven track record in P&C sales (kind of a catch 22). Or if you have a lot of capital the companies will take you on but at a rather high cost (several thousand I hear).
Nak4Life
Between the two your already looking at, I would gravitate toward Nationwide however, there is one more option and that is to go work for and Independent P&C shop.
You could work under his/her appointments, learn the P&C side of things and then go out on your own if you were so inclined to do so at that point.
One cannot just go out and get appointments like you would in Life or Health sales. P&C companies will only look at you if you have proven track record in P&C sales (kind of a catch 22). Or if you have a lot of capital the companies will take you on but at a rather high cost (several thousand I hear).
Nak4Life
- Staff
- #5
- 1,571
What is your current insurance experience, and can you afford to buy into an established business? Most of us here do health and life exclusively, I got my p&c just so I could split commission on a few big deals, but I don't know too much about it.
The names you mentioned, do also sell life, but auto and homeowners are big. Is p&c the way you want to go? How are you currently employed?
The names you mentioned, do also sell life, but auto and homeowners are big. Is p&c the way you want to go? How are you currently employed?
- 9,744
Nationwide over Allstate, hands down.
I worked in management with Allstate for 3 years. One of my best friends from those days is an agency manager with Nationwide.
Nationwide allows you to broker business that they don't handle, while Allstate does not. Many, many more income opportunities, and a lot less heavy handed management oversight with Nationwide.
I worked in management with Allstate for 3 years. One of my best friends from those days is an agency manager with Nationwide.
Nationwide allows you to broker business that they don't handle, while Allstate does not. Many, many more income opportunities, and a lot less heavy handed management oversight with Nationwide.
- Thread starter
- #7
J
Jblack07
Guest
Hi
yeah, i am licensed in P and C and like that market. I have been doing it about a year. I would be with a friend/partner who also is life/health and P and C. finding an agency to buy is tuff here. scratch might be the only way to go. we want to build an asset and residual income.
I have a finance degree, real estate license, as well and have been mostly in sale for about 7 years.
yeah, i am licensed in P and C and like that market. I have been doing it about a year. I would be with a friend/partner who also is life/health and P and C. finding an agency to buy is tuff here. scratch might be the only way to go. we want to build an asset and residual income.
I have a finance degree, real estate license, as well and have been mostly in sale for about 7 years.
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- #8
J
Jblack07
Guest
I heard you don't really own your book with nationwide
althought they have some choice plus program now.
all-state I heard was open to brokerage on as well.
at any rate, the new agent plan with all-state looks very good as opposed to nationwides. all-state seems alot more aggresive with expansion efforts.
althought they have some choice plus program now.
all-state I heard was open to brokerage on as well.
at any rate, the new agent plan with all-state looks very good as opposed to nationwides. all-state seems alot more aggresive with expansion efforts.
I would go with nationwide although allstate is also very good. Nationwide does provide decent training. You have the option of brokering out if Nationwide will not take the business (for both health, life, and p&c!)
We just opened up an agency here in California about 3 months back and have nothing but good experiences. On the p&c side we've been beating just about everybody else's rates and our health insurance is some of the easiest to sell. Our life insurance (term) has some of the most competetive rates although very basic and very limited (only have 3 term plans to choose from). Their UL's are good but are costly. Same, same with whole life.
I don't know where you're from but here in California Nationwide is just breaking into the market, and has made a commitment to go from being the #6 p&c company in the nation to #3 within 4 years. That's a pretty aggressive business plan and means there will be a lot of business out there because the rates are reflecting their commitment.
Good luck!
We just opened up an agency here in California about 3 months back and have nothing but good experiences. On the p&c side we've been beating just about everybody else's rates and our health insurance is some of the easiest to sell. Our life insurance (term) has some of the most competetive rates although very basic and very limited (only have 3 term plans to choose from). Their UL's are good but are costly. Same, same with whole life.
I don't know where you're from but here in California Nationwide is just breaking into the market, and has made a commitment to go from being the #6 p&c company in the nation to #3 within 4 years. That's a pretty aggressive business plan and means there will be a lot of business out there because the rates are reflecting their commitment.
Good luck!
- Thread starter
- #10
J
Jblack07
Guest
I hear ya...i work for Nationwide currently actually
they are competitive on some stuff, but not exactly low-cost provider on auto when it comes to younger drivers..almost like they dont want the business.. also depends on the company your competing against.
not a fan of the nationwide agent softwares in my office.
thanks for all your viewpoints. any others are welcome
they are competitive on some stuff, but not exactly low-cost provider on auto when it comes to younger drivers..almost like they dont want the business.. also depends on the company your competing against.
not a fan of the nationwide agent softwares in my office.
thanks for all your viewpoints. any others are welcome
