I am currently a P&C producer at a captive agency. I am pondering opening an independent agency, and wanted to know what type of commission rates do independent agents get for P&C. Currently with my captive company we get 12% on new and 10% on renewals for auto. Do independents get more, less,or the same?
Independent Agent Commissions
- Thread starter bigwillie
- Start date
InsuranceSolutions
New Member
- 10
I am in a simular situation, it is tough making a living by splitting the commissions with the captive agency owner. From what I have seen the commissions are typically 3%-5% higher than the captive agency that I work for.
Its different with each company. But it is usually 20% on home and 15% on auto... What states are you guys in?
InsuranceSolutions
New Member
- 10
I am in utah, and the captive that I was with before paid 10% on Auto, 20% first year homeowners, 8-10% on commerical.
Since I have made the jump the other carriers I have been appointed with are higher than that on everything but homeowners.
Since I have made the jump the other carriers I have been appointed with are higher than that on everything but homeowners.
- 1,641
Ok, let's try this again. I'm considering expanding into P&C.
Can I get 20% on homeowners without an existing P&C book?
Also, what are commissions on WC?
Thanks!
Can I get 20% on homeowners without an existing P&C book?
Also, what are commissions on WC?
Thanks!
- 1,641
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- 1,641
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- 624
You will probably need to join a wholesaler first to start building a book and gaining traction. Then you might get direct appointments...
- 1,641
In other words, 10% fyc on home and auto?
What about commercial, say liability and WC?
- 1,641
On Commercial Insurance....
Have a couple options on how to contract -- but none direct for now.
So.... What is commission if I were direct, and how big do I need to build my book to go direct?
I understand I will get less comm. to start, but I need to know how much of a haircut I'll be getting so I can properly negotiate.
Thanks!
Have a couple options on how to contract -- but none direct for now.
So.... What is commission if I were direct, and how big do I need to build my book to go direct?
I understand I will get less comm. to start, but I need to know how much of a haircut I'll be getting so I can properly negotiate.
Thanks!
