Average P&C Premium [Michigan, Captive]

Dec 8, 2018

  1. evanpat
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    evanpat New Member

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    Michigan
    I'm a rather young producer, 24 years old, and I'm about a year into my insurance career. I'm licensed in property, casualty, life, & health in the state of Michigan. With a background in sales, I transitioned into insurance smoothly but with lots of great mentors and training to start off with.

    I've always been meeting my goals set my managers and consistently praised for my growth in my first year. However, now that I am switching to a new agency for a higher paying structure and better work environment, I've done some research about the different expectations of other work environments. It never dawned on me to ask at my old employer, but I am curious to know what would be considered the benchmark for "average" in the state of Michigan (in terms of monthly written premium) for a property & casualty lines producer? What's considered "good" or "great" or even "poor"?

    The way my new agency that I'll be starting at records premium for my sales and commissions are annualized auto (the policy's are 6 months) and property policies (all 12 months) written in a month. I live in the state of Michigan where auto rates are higher than almost everywhere else. According to my pay structure and what the other employees and managers that work there told me, their average sale is $3,600 per household (roughly 1 home policy plus 2 annualized-auto policies, full coverage). This is also an Allstate agency and I'll be selling solely personal lines property & casualty.

    Thanks.
     
    evanpat, Dec 8, 2018
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  2. Philly
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    Philly Super Genius

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    I have a agency in West Michigan.What part of MI are you from? If you are on the east side the premiums are larger.
    Phil
     
    Philly, Dec 8, 2018
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  3. Markthebroker
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    Markthebroker Guru

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    I can only speak for myself here in California, but when I was personal and commercial it was probably a few thousand dollars. As I transferred from personal to commercial, it grew. Now that I am 100% commercial (even though I still have a number of personal lines policies in my book) my average client is just under $10,000, though my average sale is smaller. My commercial accounts tend to grow over time, while personal lines policies usually mostly only grew along inflation and rate changes.
     
  4. evanpat
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    evanpat New Member

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    I'm in the northern part of Metro Detroit. The agency I represent markets in Oakland, Macomb, St Clair counties primarily.

    Our average personal lines sale is $3,600 (2 autos and a home, annual premium, 3 products) according the agency's history. That is before the fees our state throws on (i.e. MCCA fee). In Michigan, with the highest and (from what I believe) most volatile auto insurance rates in the country due to our unique unlimited PIP on personal auto, we see a lot of premium fluctuations in our clients' auto policies.

    I do sell commercial property and casualty as well as both personal and commercial life and health; but at a flat-rate commission per product (usually $200+) for most of those sales as they aren't my primary responsibilities. That being said, with the nature of my personal pay structure, I won't know the premiums, most of the time, for the policies outside of personal p&c being sold.
     
    evanpat, Dec 18, 2018
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  5. JWP
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    JWP New Member

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    I'm in Michigan as well. I'm 1099ed at an independent agency. I find all my leads and do all my servicing. Mostly personal lines. My monthly goal is $30k and then $365k for the year of new business.
     
    JWP, Mar 8, 2019
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  6. Dreamiekid
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    Dreamiekid Expert

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    whats the split?
     
  7. JWP
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    JWP New Member

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    JWP, Mar 27, 2019
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  8. Dreamiekid
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    Dreamiekid Expert

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    Thanks!

    Yeah I’m trying to find agents.
     
  9. BADTROUT
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    BADTROUT Guru

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    Couple comments.

    1. Go Blue!
    2. Start with how much you would like to make... work it backwards.

    What I mean by this is: lets figure I want $5K per month, to make that $5K I need to sell $50K in premium which means I need (given the averages) to sell approximately 3-4 policies a week. You can further break things down by how many calls it takes for a sale etc etc

    I think when given a goal, or a pie in the sky assertation you'll be rich soon if you take the time to break it down you will know how realistic your goal is.
     
    BADTROUT, Mar 28, 2019
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