Home Based P & C New Agency

[Roenick27]

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.

Yes I wasn't sure with the abbreviation etc. in the cluster I would have the profit sharing bonus eligibility from the first dollar (but in all honesty, how can I tell if the cluster as a whole will be profitable?) as well as various growth bonus opportunities as well (my percentage of what the group earns I believe). I would have some direct and some cluster code appointments so a few of the carriers I would have small requirements as well

 

[GXR2]

Do an internet search for: virtual offices.

 

[agentinsouth]

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?

I started out of a spare bedroom 3 years ago. Then moved into a one room office, then into 1100 sq. office. I highly recommend investing in InsureSign or DocuSign.

 

[Roenick27]

Thanks buddy. The issue is the cluster I woul do with requires an office. So I'm weighing is it worth just finding a small shoebox office to go with the cluster as opposed to starting from home just writing one company etc (progressive etc). I already have and am familiar with Echo sign

I started out of a spare bedroom 3 years ago. Then moved into a one room office, then into 1100 sq. office. I highly recommend investing in InsureSign or DocuSign.

 

[Heather]

Do they have any of those small business incubators in your area? Not sure what they call them where you are. But you get a tiny office, shared use of conference rooms, fax machines, etc and a receptionist greets all the clients in the front. They look really professional. I looked into them when I first started, there were even packages where they will do secretarial and customer service work for you to, but there was a long waiting list to get in.

 

[Roenick27]

They do but they are hard to find or they are regus, and their price is insane

Do they have any of those small business incubators in your area? Not sure what they call them where you are. But you get a tiny office, shared use of conference rooms, fax machines, etc and a receptionist greets all the clients in the front. They look really professional. I looked into them when I first started, there were even packages where they will do secretarial and customer service work for you to, but there was a long waiting list to get in.

 

[agentinsouth]

Thanks buddy. The issue is the cluster I woul do with requires an office. So I'm weighing is it worth just finding a small shoebox office to go with the cluster as opposed to starting from home just writing one company etc (progressive etc). I already have and am familiar with Echo sign

Run from any captive cluster! They are bloodsucking vampires that will take your money, take your commission, and do very little for you! I can't think of a single noncaptive cluster that would require an office?

varies by state, however there's quite a few carriers that will give you an appointment starting out. I know Liberty Mutual Personal lines will in most states.

 

[Roenick27]

Who would you suggest? The one I am looking at only really charges a fee and has a buyout. I've seen others that take a percentage of the commission but not this one

Run from any captive cluster! They are bloodsucking vampires that will take your money, take your commission, and do very little for you! I can't think of a single noncaptive cluster that would require an office?

varies by state, however there's quite a few carriers that will give you an appointment starting out. I know Liberty Mutual Personal lines will in most states.

 

[cruhm1971]

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?

I've been doing it from home since 10/4/15 and have 28 agents producing for me. I have access to home, auto and business carriers in 34 states. 480-409-7549

 

[AdvisorsIns]

Roe

I started at home with an aggregator. They allowed for this and the carrier reps met me at my home. I had a very solid business plan to show my direction to an office in the future. I also used a friend of mines address as the physical address and a PO box as mailing when carriers wanted a physical spot.

To answer your question about how you know if the group you become a member with is going to benefit you. Ask them, ask for referrals to other group members. My SIAA chapter is fantastic and makes me so much more money than what I could get on my own at my current book size.