How Long Does It Take?

[MrExcitement]

"I am a recent college graduate"

That would be grease, not greace.

Good Luck, Im trying to do the same thing you are.

...can't win them all...

How is it coming so far? Very many clients? Is it harder or easier than you initially thought it would be?

 

[djs]

The trick with going independent in the P&C world is appointments. It's difficult to get appointed directly without a track record in the industry, usually measured in years.

There are ways around this, using companies like SAIS, InsuranceNoodle and Tapco to fill the gaps (not sure about Florida, these may be different).

The next problem is the overall startup. E&O is pricey, much more than in life and health, you may need an agency management software package, you'll have to find a premium finance company if you want to do commercial, etc, etc.

If you fanangle appointments, every thing else is a breeze. Financially, it can be very tough the first few months, and even the first several years. It's all about building a residual book of business.

The other risk you run is that State Farm decides not to pull out. I know they have announced they will, it will probably happen, but they may come to terms on the rates, which could dampen the number of policies availble to write.

You can make it work, it will take some work though. It's probably the best time to make the jump while the market is favorable.

Dan

 

[MrExcitement]

I have considered going with a company like SAIS or Insurance Noodle and that is what I will have to do for my first few years until I can gather appointments. But it has recently occured to me that I might be able to cash in on a fantastic oppertunity to sell Life and Health Insurance. My location which is owned by my father has a doctor's office right next door. Several people pass by everday and although they might not all be able to afford to be put on a preferd health policy, they might qualify for some other type of lesser health coverage. Also, my parents run a very successful floor care buisness out of the same location and several clients come in and out of the office everyday which could help chances to sell each customer. Do you all think that my current situation just might be better suited to start out trying to focus on health insurance and then try later on to sell more P&C?

 

[djs]

With insurance, it's more about what you have a passion for rather than what is convenient. Trust me, the passion will help keep you going when things are not following your plan.

Personally, I much prefer P&C over health and prefer health over life. Others are different.

I would add, selling health insurance next to a doctors office is probably a formula for disaster. You'll likely end up with a lot of uninsurables, or individuals complaing that you can't get them covered in 15 minutes before they go into the doctors office. It wouild be a time waste that you would probably regret. Not sure, might work, haven't ever done it.

Dan