How Many Carriers?

[haydeninsurance]

I have access to 7 but usually only write 3. I try and keep an eye on quotes that beat me when I am bidding against other guys online. You can enter your information on one of the lead websites so you can have 8 other agents in your area compare their companies to yours. If you are doing fine then don't worry, if you are way out of the ballpark then start calling the carriers.

 

[DurAmerica]

In my opinion 3 at a minimum.

 

[joshb]

Not to bring up an old topic, but..., in my opinion, you can't have too many homeowners carriers in Florida. Every company has their own niche market. We are directly appointed with 38 different home carriers in Florida, and we NEVER lose to the competition. If we lose, its because they are buying a policy with stripped down coverages and we are not going to do that. We use a comp rater and doing a quote is quick and easy. We know our companies very well so we don't quote each one everytime.
I think you said you represent Security First and Landmark, I do not represent Landmark, but do represent Security First, and don't write much with them because their prices are pretty poor. Both of your carriers are less than 5 years old and do not have much in experience paying claims. Get with a larger company for sure. Tower Hill is a good option to have. We have a lot of business with them and they couldn't be easier to work with, not to mention they are the oldest domestic company writing business in the state.
One thing you have to remember in Florida, is that we are such a different environment than any other state that you kinda need a big selection to choose from. It is very rare that we tell customers we don't have a market for their home.

Oh by the way get appointed with Citizens if your not, to place those "impossible risks."

 

[Bertolinoins]

Anyone know the most competitive Homeowners carriers in California? I'm guessing that between Hartford, Travellers, Foremost that should be enough, however I worked for a captive Farmers Agent for 1 year before planning my own agency so I'm not too familiar with what else is out there.

Top CA carriers IMO are Travelers, CIG, Mercury, Safeco and Kemper in that order. Hartford is supposed to be adjusting HO rates to be more competitive and open up access to their AARP product... doing so would vault them near the top. Metlife has great auto rates but their HO rates need some tweaking.

 

[FLInsa]

We've given up writing HO3 in FL completely. We'll still write referral clients, call ins, and etc - but we aren't spending a single $ anymore to bring in HO3 clients. I just think that the commissions paid on HO3 policies are a joke - or at least very close to one.

 

[joshb]

We've given up writing HO3 in FL completely. We'll still write referral clients, call ins, and etc - but we aren't spending a single $ anymore to bring in HO3 clients. I just think that the commissions paid on HO3 policies are a joke - or at least very close to one.

You must be in a coastal county then. All of our carriers pay 12-15% one pays 8% and that's Foremost.

 

[FLInsa]

You must be in a coastal county then. All of our carriers pay 12-15% one pays 8% and that's Foremost.

Right, I get the same commission %s but the problem is for example, I just quoted an HO3 yesterday (name of carrier will remain undisclosed) - the home is in Palm Beach county and the total premium was $3,221 including taxes/fees.

One would think that I would get 15% commission out of the net premium ($2,912) which would total $436 right? NOT SO!!! Thanks to Citizens and the departed Crist, I am only getting paid on the NON-WIND portion of the premium which is $1,236 for a whopping net commission check of $185!

Ouch!

 

[joshb]

Right, I get the same commission %s but the problem is for example, I just quoted an HO3 yesterday (name of carrier will remain undisclosed) - the home is in Palm Beach county and the total premium was $3,221 including taxes/fees.

One would think that I would get 15% commission out of the net premium ($2,912) which would total $436 right? NOT SO!!! Thanks to Citizens and the departed Crist, I am only getting paid on the NON-WIND portion of the premium which is $1,236 for a whopping net commission check of $185!

Ouch!

thats how it is for us as well. We sell a lot of of policies though. Over 150 HO policies every month. In my area the problem isn't wind so much, its sinkholes. Lets hope they don't do the same thing they did with wind.

 

[FL P&C Broker]

It really depends on where you are writing. We right a ton of H0-3 policies too. Tower, ASI and Universal all pay pretty good commissions. Our average HO-3 policy is around $1600. Add flood at 20% commission and it becomes worth it for sure.

 

[JCK818]

Anyone know the most competitive Homeowners carriers in California? I'm guessing that between Hartford, Travellers, Foremost that should be enough, however I worked for a captive Farmers Agent for 1 year before planning my own agency so I'm not too familiar with what else is out there.

SAFECO will kill both of them 99 percent of the time. I have all three