Independent Agency Start Up Expenses

CR in STL

Expert
61
I am fairly new to the insurance world and have to credit this site with a ton of information that helped me make that decision. I have yet to find the one thing I am looking for.

I am investigating the possibility of opening my own Indy Agency offering P&C, Life & Health, Etc. in the St. Louis metro area. I have a large number of contacts in the construction industry both commercial and residential in addition personal contacts. I am searching for an estimate on what typical yearly expense look like or if someone has a budget they would like to share that would be great. I understand every office is different so a general idea is fine.

1) I would be working from a home office but do have access to use office space if needed.

2) Since I don't have an established book of business I will need something like insurance noodle (suggestions on other vendors would be great especially for commercial accounts such as construction companies)

3) Do not plan on have staff yet, I would like to walk before I run

4) E&O expenses

5) Are paid leads any good

In addition any other suggestions are greatly appreciated
 
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