Breaking into the P&C Biz

bdagent

Expert
Hey all,
Question for you vets in this market. I have a L&H agency, been running in that line for about 7 yrs. We focus mostly on senior market but i am well versed in all the segments. I am contemplating starting a P&C side to the agency becuase we have at least 10k clients and well over 250k leads in markets we cover. I think it should be an easy cross sell opportunity. My question is two-fold...first, which carriers are good in MD,DC,PA,DE area and also in FL. I would only be able to work with independant contracts becuase i will NEVER be captive with anyone.
Second, does anyone have any advice about what commission levels/renewals I should look for as a newbie on the dark side?
I know I am not going to command much respect with no book, but i dont want to get taken to the cleaners either!
Any other thoughts on the move will be welcomed as well.
thanks
 
Hey all,
Question for you vets in this market. I have a L&H agency, been running in that line for about 7 yrs. We focus mostly on senior market but i am well versed in all the segments. I am contemplating starting a P&C side to the agency becuase we have at least 10k clients and well over 250k leads in markets we cover. I think it should be an easy cross sell opportunity. My question is two-fold...first, which carriers are good in MD,DC,PA,DE area and also in FL. I would only be able to work with independant contracts becuase i will NEVER be captive with anyone.
Second, does anyone have any advice about what commission levels/renewals I should look for as a newbie on the dark side?
I know I am not going to command much respect with no book, but i dont want to get taken to the cleaners either!
Any other thoughts on the move will be welcomed as well.
thanks

I think you should split your carriers into two portions: MD, DC, PA, DE is one section, FL is the other :D

For the first section I think Erie would be a good way to go if you have the opportunity and maybe Safeco, Kemper, and Travelers as backups. FL I know NOTHING about.
 
Like you, I am also an independent L&H agent specializing in Medicare / Medicaid and I live and focus in the Central PA market, but am also licensed in DE and MD. Wondering if you are looking for any agents to partner with in any of these markets for splits? Always looking for more appointments.

Thanks!

Todd
 
thanks for the input on carriers in northeast. I will check them out. Any input from anyone else on commissions and on the FL carriers??
 
You will find out that you have never heard of any of the companies writing home owners in Florida. They pay anywhere between 10% to 15% and the state run company pays about 7%. You have all the usual suspects for auto; Progressive, Travelers, GMAC, Mercury, etc. They pay 10% to 15% as well. Some companies pay their renewals at a point or two lower.
 
You will find out that you have never heard of any of the companies writing home owners in Florida. They pay anywhere between 10% to 15% and the state run company pays about 7%. You have all the usual suspects for auto; Progressive, Travelers, GMAC, Mercury, etc. They pay 10% to 15% as well. Some companies pay their renewals at a point or two lower.

I hear ASI and UPCIC are good in FL, that is where they are based. They do well in NC and if a company is based in FL I assume they are able to thrive there if they move to other states.
 
so is the 10-15% a good number everywhere or is that just FL?
Is that on all lines or all they all generally different??
Is progressive a good one to have as an independent in most markets or are the more obscure names like erie, etc better as far as rates and commissions?
 
so is the 10-15% a good number everywhere or is that just FL?
Is that on all lines or all they all generally different??
Is progressive a good one to have as an independent in most markets or are the more obscure names like erie, etc better as far as rates and commissions?

Erie is DEFINITELY not an obscure name. They are not in all 50 states but for the states they are in most agents know their name.

Progressive depending on the state is a non-standard company, so they help for bad driving records and such. They all kick a LOT of ass on the toys like boats, motorcycles, and etc.

10-15% is the norm with 15% being more ideal, 10% being non-standard like Progressive.

I wouldn't say a company is "obscure." Some companies are regional, like Donegal, Erie, Southern Mutual, Montgomery, Grange, and etc. but they are very good. I think you mean the term "regional" not "obscure."

In CA a great company is wawanesa. How many people outside of that area do you think know of them? but they do very well in CA and surrounding areas where they are, though.
 
There are some big names writing homeowners and property but it's gotta be pretty much perfect new 2002 and up. Personal and Commercial otherwise you have several players that are not as well known.
 
Erie is DEFINITELY not an obscure name. They are not in all 50 states but for the states they are in most agents know their name.

Progressive depending on the state is a non-standard company, so they help for bad driving records and such. They all kick a LOT of ass on the toys like boats, motorcycles, and etc.

10-15% is the norm with 15% being more ideal, 10% being non-standard like Progressive.

I wouldn't say a company is "obscure." Some companies are regional, like Donegal, Erie, Southern Mutual, Montgomery, Grange, and etc. but they are very good. I think you mean the term "regional" not "obscure."

In CA a great company is wawanesa. How many people outside of that area do you think know of them? but they do very well in CA and surrounding areas where they are, though.

regional is definately more what i was getting at. I know that as agents we are familiar with alot of companies that the general public has no clue about until you inform them. thanks for the feedback.
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Do most of these carriers offer direct contracting or will i have to partner up with an "FMO" type brokerage like many indys would in L&H?
 
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