BrendaHoustonTx
New Member
- 1
I am looking for advice on starting my own agency. Right now I am only my property and casualty license agent . Is recommend to have an LLC or Dba?
How to Start a Auto Insurance Agency?TEXAS
- Thread starter BrendaHoustonTx
- Start date
whatyouwantfinally
Guru
- 496
I'm not answering on the grounds it may move you closer to starting your own agency and that is a terrible thing for you to do right now.
- 1,024
How to Start a Auto Insurance Agency?TEXAS
You don't... or rather... you shouldn't. Any other questions?
- 274
Brenda, this is a great question which leads to a plethora of more questions to help answer this. Opening a P&C agency with a focus on auto insurance is a fantastic way to help you achieve your purpose and goals. The road to getting open and staying open as In any venture is hard and long. To answer at a minimum your question of a DBA or an LLC the answer is, the question actually does not make sense. You can have an LLC and operate under a DBA. I think maybe what you are asking is should you be a sole proprietor or form an LLC. An LLC filed as an S is probably the best bet. Check with your accountant I’m sure the question of how to run through all the steps has been answered in the forum over the years many times. This is not an easy business to enter and especially in today’s market but not to say it can’t be done or shouldn’t be done. This industry needs new blood
- 2,285
You will need your Life license at least, in addition to P&C. No real need to worry about Series license right now.
Farmers is looking for agents in my area. You will need access to several thousand $.
Farmers is looking for agents in my area. You will need access to several thousand $.
InsuranceJerk
Expert
- 47
Honestly, for a monoline auto agency (presumably NSA), if you already have experience, to get appointments you'll really only need: a location with a TX agency license and E&O. Set up a premium trust bank account. An LLC is cheap and a good idea as well. There's a reason there are so many auto agencies - they're easy to set up. The market is showing signs of softening, so go for it.
- 5,423
Step 1 Make a pile of $20 bills and light them on fire.
Step 2 Punch yourself in the face for 30 seconds.
Step 3 Flush a pile of $20 bills down the toilet.
Step 4 Stab yourself with a fork for 30 seconds.
Repeat and do this all day every day. When you get to the point that it's tolerable, then you may have what it takes to open an agency. If any of this seems silly or uncomfortable, then you may not have the right mindset to be an agency owner.
Step 2 Punch yourself in the face for 30 seconds.
Step 3 Flush a pile of $20 bills down the toilet.
Step 4 Stab yourself with a fork for 30 seconds.
Repeat and do this all day every day. When you get to the point that it's tolerable, then you may have what it takes to open an agency. If any of this seems silly or uncomfortable, then you may not have the right mindset to be an agency owner.
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