Carrier Commisson Rates
- Thread starter TexasInsuranceNow
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- #12
TexasInsuranceNow
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- 37
Even for agency owners? Why would someone want to own an Allstate agency? They would have to start over every year.
Allstate commissions for exclusive agents are 9% new and 9% renewal. You can earn your way to 10% and 10% if you sell enough life apps. Then, if you sell enough P&C throughout the year and you sell enough life insurance you can get up to a 4% bonus on both your new and renewal business that you earned for the year.
- 977
Wow, that's really sorry. I guess I was lucky cutting my teeth at Nationwide, they paid more in line with other carriers, not the BS that Allstate and SF are paying.
I'm curious, of everyone who's posted their commission rates thus far, are those your commissions negotiated directly with the carrier, or are you a member of a cluster or group? And if you are part of a group, is that commission before or after your split?
I'm curious, of everyone who's posted their commission rates thus far, are those your commissions negotiated directly with the carrier, or are you a member of a cluster or group? And if you are part of a group, is that commission before or after your split?
- 134
My commission was negotiated with the agency principal. I know some of the comp plan details for scratch exclusive/captive agents, but not everything. The one thing that seems most attractive to me is that agency principals own their books. Not familiar with how other carriers structure that portion of their contracts, but was always under the impression most captive agents never own their books.
It definitely sucks not getting paid renewals - forever chasing the next sale.
It definitely sucks not getting paid renewals - forever chasing the next sale.
Farmers Auto 10/10
Farmers Home 20/14
FarmersBOP 12/10
Farmers Commercial Auto 12/10
Farmers Workmans Comp 7/7
Foremost Speciality 14/10
Bristol West (Non-Standard Auto) 10/10
Pacific Speciality Home 10/10
MetLifeBOP 10/10
StarBOP 10/10
Tapco Commercial 10/10
Tapco Personal varies, but usually no less than 10/10
Through Farmers owned-operated general agency, Kraft Lake, I get 10/10 on all business written for CNA, Chubb, Hanover, The Hartford, Hiscox, USLI, Philadelphia, Travelers, and Foremost Business (Zurich Small Business)
Through MetLife's owned-operated general agency, for referring business I get 50% of the split for commercial lines for both new business and renewals and 50% of the split for personal lines for new business, while earning 25% of the split on renewals.
Farmers Home 20/14
FarmersBOP 12/10
Farmers Commercial Auto 12/10
Farmers Workmans Comp 7/7
Foremost Speciality 14/10
Bristol West (Non-Standard Auto) 10/10
Pacific Speciality Home 10/10
MetLifeBOP 10/10
StarBOP 10/10
Tapco Commercial 10/10
Tapco Personal varies, but usually no less than 10/10
Through Farmers owned-operated general agency, Kraft Lake, I get 10/10 on all business written for CNA, Chubb, Hanover, The Hartford, Hiscox, USLI, Philadelphia, Travelers, and Foremost Business (Zurich Small Business)
Through MetLife's owned-operated general agency, for referring business I get 50% of the split for commercial lines for both new business and renewals and 50% of the split for personal lines for new business, while earning 25% of the split on renewals.
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- #17
TexasInsuranceNow
Expert
- 37
Jay,
Are you in Texas?
Are you in Texas?
10/10 for auto and home
Potential for higher based on how many quoted you turn into policies. Lots of other great bonuses available as well.
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