Home Based P & C New Agency

Feb 26, 2016

  1. Roenick27
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    I've been a captive agent for a while now and it is time for a change. I am considering opening up an independent agency from an office, but also had the idea about starting from home 1st to try and drive some business in 1st and then make the move. Has anyone had any success operating primarily a p and c agency from home? Which companies (I know progressive will) will appoint you from home (can show them a number of years of profitable business/production).

    I'd love to hear from anyone that has done this as if it is possible, I think it is the way I would be leaning. Also do you use a po box as your address or do you use your home address?
     
  2. PhilL
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    Roenick27, I would be glad to give you some relative thoughts. If you would like to talk to me, please contact me through my website.

    Phil
     
    PhilL, Feb 26, 2016
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  3. Roenick27
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    What is your website?
     
  4. JohnWalker
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    I'm gonna say 95% of carriers won't appoint you without an office. At least in california they wont...
     
  5. FL P&C Broker
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    In Florida I think you have to have an office to apply for an agency license.
     
  6. Roenick27
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    Thanks guys. I know most won't. Progressive even asks if you have home/office etc I would only want to use a few carriers just to get some business rolling in before signing a new lease etc as well as having a company or 2 that I would have direct appointments with so I can have some complete ownership as well as joining a cluster. I'm basically just looking for a bit of "security" before entering into the independent side completely.
     
    Last edited: Feb 26, 2016
  7. AZDave
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    How long have you been captive? Are you bringing your customers with you? You can get into executive office settings for pretty cheap, or sub lease an office from another professional like an accountant. But if you don't have the access to markets, I would highly recommend working for an established independent as a producer or join a group.


    Good choice to go Indy for sure!

    Dave
     
    AZDave, Feb 26, 2016
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  8. AdvisorsIns
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    I worked from home for the first year and was able to get appointments. I used a buddy of mines financial advisory office as my office location for free to get past the location issue. I used a PO box as the mailing address.


    I just worked from home and coffee houses.

    An aggregator will help you get appointments directly and get you overrides and PS 1st$
     
  9. Roenick27
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    I would be starting scratch. I have about 8 years of experience. My main issue is that I would like to have some business coming in before spending months of money on leases/utilities etc before I can even start writing. I figure I need the lease 1st then I can move forward with a cluster (I'm approved--they're waiting on location and for me to get a new e and o policy). But that can take a few months before I can see some income coming back in. That's why I figured if I could start at home for even a few months, it would help to alleviate that gap
    ----------

    Thanks buddy. What are/is PS 1st $?
     
  10. AdvisorsIns
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    Profit sharing and over ride bonus eligibility starting with your first dollar of premium written. Without an aggregator or cluster it doesn't start until maybe 250k or much higher. FYI. Aggregators and clusters are different. Make sure you know the difference and choose wisely.
     
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