Independent?

Apr 14, 2019

  1. Axil
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    Axil New Member

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    I’ve been trying to make preparations to leave my captive carrier and go independent. It’s a daunting task but I believe it must be done. P&C will be the primary focus since that’s what makes up 90% of my income. I have 19 years of clients who hopefully will decide to join me. I’m not moving my office or changing my number. My soon to be prior company pays me only commissions.
    I will need an appointment for the high end auto/home business most of all. Second priority will be a carrier good with rental properties/Lessors risk and non-standard home/auto.
    Eventually I will get a life/annuity carrier.
    I’m the only earner so it’s imperative that I get my income up and going ASAP. Very nerve wracking.
    Does anyone recommend which carriers I should approach?
    I’m hearing good things about Auto Owners and Safeco.
     
    Axil, Apr 14, 2019
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  2. TexasVet
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    TexasVet New Member

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    Which state will you be selling in? Might help others respond with carrier competitiveness.
     
    TexasVet, Apr 14, 2019
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  3. Axil
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    Axil New Member

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    Last edited: Apr 20, 2019 at 1:01 AM
    Axil, Apr 14, 2019
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  4. BADTROUT
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    BADTROUT Guru

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    Hey there... Carriers are definitely not appointing as easily as they used to and getting those relationships are a harsh reality check for many in your shoes. I can assure you there isn't a magic bullet but the better prepared when approaching a carrier you can be the better.

    I would honestly start by taking you and a few families and shopping the rates in your area with local indy agents and see who looks to be some of the common denominators. Go after those carriers with a solid plan. Even then you may have some pushback and may find the services of a network extremely beneficial.

    There are many good networks, and they all have their advantages and disadvantages. If you go this route, tread cautiously so you don't end up owning an independentish agency with a captiveish contract.

    It's going to be hard, but you were able to build a successful (20 years is successful) captive agency... you won't regret it. It's going to take a bit of a nest egg so DONT WASTE ANYTHING on anything not completely necessary.

    I would be happy to take a little time and give some insight into your options if you are interested. I own a growing agency network, but I don't have a network in your state so I would be able to give you impartial, yet semi-insider so feel free to PM me.

    Best of luck!
     
    BADTROUT, Apr 15, 2019
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  5. Axil
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    Axil New Member

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    Thank you. I really appreciate your insight. I will take you up on that and get your thoughts on some of the questions that are keeping me up at night.
     
    Axil, Apr 15, 2019
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