Most Profitable in P&C Insurance

[TonyC]

Hi All,

I was talking to a associate who sells PC. He's really a beginner and mainly sells auto insurance and some home owners.

We were trying to get some ideas on what the most profitable end of the PC business is.

I mentioned the following
-HOA's (policies covering home associations)

and he said
-Large Commercial buildings (not sure if this is true)

I'm looking for some ideas on the most profitable PC policies to sell...

Can anyone add to this list of most profitable PC policies to sell?


thanks in advance...!!

 

[TonyC]

Re: Most Profitable....???

I was going through my old posts...

Can anyone give me some input here?

 

[bobson]

Re: Most Profitable....???

There isn't a most profitable line of insurance.

I know millionaire personal lines agents and I know millionaire small commercial lines agents as well as millionaire large commercial lines agents.

If he's a commissioned agent for an agency I'd tend towards large commercial. If he's an agency owner he can concentrate on personal and small commericial.

 

[TonyC]

Re: Most Profitable ?

Thanks Bobson...

I realize that there are a million ways to make money...but some are more profitable than others...and i'm sure that agents who write Liability policies for Doctors would not waste their time writing Auto insurance for their Neighbor (unless that neighbor was a good friend, etc)

Anyone else?

PS. i realize that this thread is a several months old.

Thanks !

 

[JCK818]

Re: Most Profitable ?

Find what you like to sell the best. Don't try to be jack of all trades. I like commercial policies. They are more loyal, less turnaround. Also, once you got their business, their personal stuff will follow.

 

[Gulliver]

I echo JCK818.

Exactly right.

Gulliver

 

[shaedzs]

I'd suggest finding a line of business that you enjoy and possibly that you have some background in such as the restaurant business, contracting etc. Also, it seems the more specialized you become, the better.

 

[TonyC]

Thanks for the exhortation....Cheers!

 

[Bertolinoins]

I write a lot of HOA's and they are very political. If you are in with a big association manager they can feed you a ton of profitable business. You have competition from Farmers and Allstate every year and the board members are political creatures so they take
some work to retain. It isn't easy to break into unless you know the assoc manager or a board member.


Most profitable for an agency owner is preferred personal lines and easy "one touch" commercial lines like commercial property and apartments. There is big money in Contractors and Truckers but it is a ton of hand holding.