Hi...I just got my Fire & Casualty License in CA. I am in southern Cali and I want to start an independent brokerage specializing in commercial trucking. I have several friends who own their own trucking companies and several other leads. I am green to the insurance business and I would appreciate advice in how to get appointments and past experience in the commercial trucking business.
Getting Appointed in CA.
- Thread starter supe12
- Start date
insurancequoter
Expert
- 22
Do you have an agency system in place? What about E&O as you will not get any appointments without it.
You most likely will need to research wholesalers that can give you access to the companies you want as being a startup most carriers won't give you an appointment without a few years in business and an existing book of business.
Secondly, what happens after you write the few friends and other leads you mentioned. What is your marketing plan for generating new leads on a consistent basis?
Running an agency completely by yourself is more work than you can imagine and will require many grueling hours besides the 9-5 m-f shift.
You most likely will need to research wholesalers that can give you access to the companies you want as being a startup most carriers won't give you an appointment without a few years in business and an existing book of business.
Secondly, what happens after you write the few friends and other leads you mentioned. What is your marketing plan for generating new leads on a consistent basis?
Running an agency completely by yourself is more work than you can imagine and will require many grueling hours besides the 9-5 m-f shift.
- 1,076
Get E&O and get appointed with Progressive (they appoint basically everybody)... then check with Century National and a few brokers that specialize in transportation (Crump, Deep South, etc). That is one of the few niches where appointments are not that hard to get because you don't need the big national companies. The underwriters are knowledgeable and should walk you through it if you can get in front of people.
You can email on PM me if you have any further questions.
- 620
My suggestion would be get hooked up with an agency with great appointments for trucking. If you are brand new to insurance you are going to make mistakes that will drive away business. You wont earn as much as you could by being independent, but you will have someone teaching you. A year or two later go by yourself and take your book of business with you.
- Thread starter
- #5
I appreciate the advice guys.
I just got my incorporation binder and opened a business checking account over the weekend. I will look for E&O and will search for appointments will some of the suggested insurers.
In case you guys might have better suggestions, I've told that in CA I need to get bonded for 10K by the insurance department and some have quoted that would cost $100 processing fee. Is this fair?
Also, I have been informed that E&O for $1M would be around $2-3K. Is this fair to you guys also?
Thanks for the advice. Awesome forum. Thanks to all at this forum.
I just got my incorporation binder and opened a business checking account over the weekend. I will look for E&O and will search for appointments will some of the suggested insurers.
In case you guys might have better suggestions, I've told that in CA I need to get bonded for 10K by the insurance department and some have quoted that would cost $100 processing fee. Is this fair?
Also, I have been informed that E&O for $1M would be around $2-3K. Is this fair to you guys also?
Thanks for the advice. Awesome forum. Thanks to all at this forum.
insurancequoter
Expert
- 22
Yes, that is correct. California requires a 10K bond, runs about $100.
E & O will run $1500 - $3000
E & O will run $1500 - $3000
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