Newbie selling Life/Health

Falk

New Member
1
Currently sell Life/Health.

Potentially have access to all of the clients for one of the top producing realtors in the country. I have never done P&C sales before, so this would be 0-100 over night. What's the best way for me to start a brokerage that can handle this kind of business? Joining an existing business isn't an option here.

Any/all help and insight appreciated.
 
The best way to start a brokerage is to go get 10 years of experience with P&C insurance production, back office, and carrier experience before starting off on your own.

L/H - P/C totally and utterly different. In P&C just because you have the client does not mean that you will have the product or the access to the product.
 
If its an "invesment property" its typically not homeowners insurance that they would get. Depending on a variety of factors you may be talking about a personal lines dwelling policy or a commercial lines policy or even a vacancy form.

From an agency standpoint you really do not want property policies that are going to change insurance coverage form and type each and every year or clients that are buying and then selling the property often. The term "investment property" franklly would concern me. There is a LOT of backend work that can go into some of these situations. [Trust me]

In terms of working with insurers - frankly you want to speak to someone in your local area. Each state is very different. Best of Luck.
 
I should have been more clear. These are individuals buying single family homes for investment income.
different carrriers will have different rules. Some will only allow up to 4 "investment" properties (landlord policies) for each policy owner before they become commercial policy holders. Not many carriers will appoint you as a stand alone out of the box because you do not have an existing Book of Business. You need to look at an aggregator to take you on and then you will have to start working to know what the heck you are talking about. Stupid stuff like how far from the nearest hydrant or fire house and is the firehouse staffed or volunteer? Will the property pass an insurance inspection and if not how quickly the repairs can be made before you can bind
 
Currently sell Life/Health.

Potentially have access to all of the clients for one of the top producing realtors in the country. I have never done P&C sales before, so this would be 0-100 over night. What's the best way for me to start a brokerage that can handle this kind of business? Joining an existing business isn't an option here.

Any/all help and insight appreciated.

As has already been pointed out, just because you have access to a successful realtor, doesn't mean those clients will convert. I've been down this road, and seen others attempt it. Furthermore, trying to do it while you have no experience, you're going to burn whatever referral bridges you have while your referral contact watches you fumble around. Been there. Finally, with no p&c experience, you won't be able to get any appointments with the carriers.
 
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