Becoming a New Scratch Independent Insurance Agent

[fins128]

Hi everyone, I am considering leaving my current position with an insurance company to become a scratch agent for the same company (Erie Insurance). I am a firm beliverer in the product Erie has to offer but I am scared just because I would leave a guaranteed Salary, benefits, etc to be on my own. I am married with two young kids, mortage, dog, etc but just feel this is such an exciting glorious career, I am looking to hear from any agents especially newer agents to give me the good and bad.

Thanks

 

[moonlightandmargaritas]

I would leave a guaranteed Salary, benefits, etc to be on my own. I am married with two young kids, mortage, dog, etc but just feel this is such an exciting glorious career

If your group medical benefits include "getting your head examined", you should.

Don't be a fool.

 

[Crabcake Johnny]

If you have an entire year's worth of bills in savings - that's liquid, not stocks, CD's, etc...then consider it.

Plan on busting your a** and earning about $35K first year.

 

[medx]

If you have an entire year's worth of bills in savings - that's liquid, not stocks, CD's, etc...then consider it.

Plan on busting your a** and earning about $35K first year.

I agree with this.



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[capnjim01]

Benefits are worth a lot right now. Trust me you don't want to be trying to find health insurance with a private company especially if you have any health issues. Thats why I may have to go captive just for the benefits.

stay where you are.

 

[Focus LTC]

Hey Fins...
I was in a similar situation a few years ago. I took the leap, went Indy and never looked back. I crushed it right off the gate because I believed in myself. If I had listened to the advice you are getting from these guys on the forum I'd be a miserable chump sitting behind a desk looking at my watch waiting for 5pm... a sad existence

If you want to make the big bucks, you will have to man up and take the ups and downs...

If you want to make chump change, then continue being a chump...

 

[Crabcake Johnny]

There's savvy advice and there's following your gut knowing yourself obviously better than a forum full of strangers. I went indie against a lot of advice - was told it was a stupid move and I'd crash and burn. Turns out it was the best move of my life but as Al says, your mileage may vary.

 

[FLInsa]

I say go for it.

However before "taking off", make sure you have:

- About $30-35k in CASH to invest in the business IF you want to be taken seriously by clients, carriers, etc... In other words, working out of your house is a no-no.

- At least 6 months of "food money" set aside. That includes mortgage, electric bills, etc....

Also make sure you have a BUSINESS PLAN that includes marketing. Putting your name on the phone book doesn't cut it anymore. You will need a sound marketing plan to get your phone ringing.

So as long as you have the funding, the experience, and more importantly the drive, you are good to go!

 

[moonlightandmargaritas]

So as long as you have the funding, the experience, and more importantly the drive, you are good to go!

A big "if".

 

[FLInsa]

A big "if".

Well, I was trying to be optimistic.

If he has the funds to carry him through the initial "desert crossing", then the rest "should" follow.