How Much Do You Earn for a Policy?

[FL P&C Broker]

Exactly my point. What do you guys think I should do? Make a run for it?

What license do you hold? What are they providing for leads? Leads, etc.

The percentages of you get there and what you can get somewhere else are irrelevant without knowing what is offered.

 

[AndrewT1993]

What license do you hold? What are they providing for leads? Leads, etc.

The percentages of you get there and what you can get somewhere else are irrelevant without knowing what is offered.

I have a Personal Line 20-44 license. The Agency Owner is providing leads in that the customer made a request back in 2012 or 2013 for a quote and no one followed through. So my job is pretty much calling people who wanted a quote 2 or 3 or even 4 years back. Majority of them are not able to be contacted or they refused. Been at this for three weeks and have sold 4 policies in total, but have had about 50 leads.

 

[FL P&C Broker]

I have a Personal Line 20-44 license. The Agency Owner is providing leads in that the customer made a request back in 2012 or 2013 for a quote and no one followed through. So my job is pretty much calling people who wanted a quote 2 or 3 or even 4 years back. Majority of them are not able to be contacted or they refused. Been at this for three weeks and have sold 4 policies in total, but have had about 50 leads.

Are you getting a salary or hourly pay?

 

[AndrewT1993]

Are you getting a salary or hourly pay?

No salary, no hourly pay. 100% straight commission. I get paid the 1st and 15th or every month. It wouldn't be too bad if I had a salary or was getting paid hourly.

 

[agentinsouth]

No salary, no hourly pay. 100% straight commission. I get paid the 1st and 15th or every month. It wouldn't be too bad if I had a salary or was getting paid hourly.

Crap kid- get a new job! Please
There are plenty of good agencies out there who will help get you started. Call the PIA, big I, or some in the industry and ask who the big P&C agencies are. They should have enough money in the bank to help with a draw or base.

Another option, is to go work for a captive agency to get started like Liberty Mutual or Farm B. They will have a base to get you started.

 

[rolox1]

My Agency Owner refuses to give me a straight answer. Before I signed on he said I get 40% of total premium sold. I was under the impression that if I sell a policy that is $1,000 I get $400.

But today I find out from him that each carrier we carry pays a different commission rate. I found a spreadsheet in my company shared drive that lists the commission split for all companies we write with.

So for example I sold a 6 month auto policy today for $531 with Victoria/Titan Insurance. I saw on the spreadsheet that new commission is 16.00%. My Agency Owner says that the company I work for (Brghtway) takes half which means I am left with 8.00% which is $42.48. Then the Agency Owner Takes 10% and I take 40% which means I am left with $16.99.

Am I understanding this right? I am in Florida btw. It took me an 2 hours to write the quote from start to finish sell which means I pretty much made $8.50 an hour? I made more than that while working part time in college. Help what should I do?

The SF agent I worked for only paid $10 per p&c policy no matter what the premium was. Nothing on renewals.

 

[Theinsuranceguys]

Where are you located? Maybe someone on the forum can give you a better deal than what you are working with now.