LHA Agent Thinking About Adding P&C

Oct 21, 2013

  1. perk44
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    perk44 New Member

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    I have been a Life Health Annuity agent for 13 years. My focus has been the senior market selling Med sups, final expense and annuities. My first four years I was a captive agent the last nine I have been on my own. Recently I have been exploring the idea of adding P&C to what I do. The idea being I could sell my existing clients auto and home coverage. On top of that I am constantly asked by people I know if I sell auto/home insurance. I just feel like I am leaving a lot of business out there that I could easily write. Granted I realize I will have a lot to learn if I decide to add P&C. I guess I am wondering if I would be biting off more then I can chew? I would like input from any of you. Especially those of you that may have a similar background before you got P&C licensed. From what I understand getting carriers is a whole different ballgame when it comes to P&C (compared to life and health). So any advice on clusters would be welcomed as well. This is my first post on here so I apologize in advance if I didn't do something correctly.
     
    perk44, Oct 21, 2013
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  2. pcbinsurance
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    pcbinsurance Guru

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    Link up with a local P&C shop and drive business their way for a nice cut.
    They can then provide you existing client leads for selling your non P&C offerings.
    Make it a win-win while you learn P&C. Don't go with a P&C shop that cross sells what you sell.
     
  3. 1manshow
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    1manshow Guru

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    First question...is there enough demand/sales to warrant the extra work?

    @15% commission and the man hours required to service auto/home I'd guess "no"
     
    1manshow, Oct 22, 2013
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  4. VolAgent
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    VolAgent Guru

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    L&H is hunting, for the most part. While P&C is farming. It is hard to take time to tend the fields and wait for the harvest when you are so use to just going out and bringing home dinner whenever you feel like it. The only downside is you have to get up and go hunting every morning, instead of taking it easy now and then as the crops come in.

    If you just did Med Supps, that might be different. But you are probably still getting the rush of landing big game from your FE and annuities activity.
     
    VolAgent, Oct 22, 2013
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  5. perk44
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    perk44 New Member

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    I would like to thank all of you for your input. I am leaning towards not adding P&C due to the service work required. Once I started to think about the time and cost involved I realized it probably doesn't make sense for me. Thanks again.
     
    perk44, Oct 22, 2013
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  6. insurance1822
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    insurance1822 Guru

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    If you have a indy you can partner with who will pickup the service end & still pay a renewal....it's extra money on the table.
     
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