Need Advise on Getting Appointed with P & C Companies

[mikekariko]

I have had my P and C and Life and Health for a while now, I just cant get appointed by any good companies out hare in Michigan. Does any one know if there is a good brokerage that i can get appointed through to get to all the big companies. Please let me know. Thank you very much!!

 

[grahamguy]

have you looked at companies like insurancenoodle.com or foremostagent.com? I would start there.

 

[HealthGuy]

How is Foremost different than Smart Choice..never heard of these guys! HealthGuy

 

[grahamguy]

I'm in the same boat. I've had my P&C for a while but never used it. I've had my life and health lics for year and that's my main book of bus. Since the Obama health care changes and after receiving letters from current carriers with my commissions being cut 1/2 I decided to look at P&C products. I propably should not have mentioned Foremost as really they are a specialty lines market that does work with SmartChoice producers. What is the difference between SmartChoice and say Insurancenoodle is this. Smartchoice requires you to have a physical public building to do business out of. So if you work out of your home that will not do for them. You have to go lease an office/get a BOP policy, bla bla. Also, they do have production minimums and so on. They help you get directly appointed with the carriers over time. On the other hand, Insurancenoodle does not require you get a physical building. They do not have minimum production standards. You pay an annual $200. fee. etc. Downside is that although you are the producer your name is not on the dec page of the policies you sale but it is your "book of business they say" There is another company you can look at that I find interesting which is agentsecure.com but they require atleast 1 year in prior personal lines and 3 years to offer commercial lines. Also, their rater is approx $40. a month to compare different companies. Also, all of these companies require P&C E&O which is more expensive than L&H E&O. I have found E&O for P&C for around $1250. a year. Now.. if you don't like all of this extra expense and just want to start out being a sub agent then you need to find an MGA who will ad you as a sub agent, you fall under their E&O for p&C. Your setup would be something like 70/30 first year then 30/70 on renewals etc. but again no extra expenses starting out. Do your research and I hope this helps some.

 

[mikekariko]

I'm in the same boat. I've had my P&C for a while but never used it. I've had my life and health lics for year and that's my main book of bus. Since the Obama health care changes and after receiving letters from current carriers with my commissions being cut 1/2 I decided to look at P&C products. I propably should not have mentioned Foremost as really they are a specialty lines market that does work with SmartChoice producers. What is the difference between SmartChoice and say Insurancenoodle is this. Smartchoice requires you to have a physical public building to do business out of. So if you work out of your home that will not do for them. You have to go lease an office/get a BOP policy, bla bla. Also, they do have production minimums and so on. They help you get directly appointed with the carriers over time. On the other hand, Insurancenoodle does not require you get a physical building. They do not have minimum production standards. You pay an annual $200. fee. etc. Downside is that although you are the producer your name is not on the dec page of the policies you sale but it is your "book of business they say" There is another company you can look at that I find interesting which is agentsecure.com but they require atleast 1 year in prior personal lines and 3 years to offer commercial lines. Also, their rater is approx $40. a month to compare different companies. Also, all of these companies require P&C E&O which is more expensive than L&H E&O. I have found E&O for P&C for around $1250. a year. Now.. if you don't like all of this extra expense and just want to start out being a sub agent then you need to find an MGA who will ad you as a sub agent, you fall under their E&O for p&C. Your setup would be something like 70/30 first year then 30/70 on renewals etc. but again no extra expenses starting out. Do your research and I hope this helps some.

Thank you, that's very good information. Now I just have to find me a MGA