P&C Agent Question

[jmarkk1]

If you are newly licensed EO for PC is going to run around $2k - $3k per year.......

Wow! So what do you do if you're newly licensed and want to be independent? Sounds like you have to partner with an agency....

 

[FL P&C Broker]

Wow! So what do you do if you're newly licensed and want to be independent? Sounds like you have to partner with an agency....

Correct, it is not as easy as life & health.

 

[jmarkk1]

Correct, it is not as easy as life & health.

So, the question I guess then is are there any agencies that do business in multiple states where I'd like to do business? And then, whether or not they'd want to split the commissions?

 

[669comche]

Wow! So what do you do if you're newly licensed and want to be independent? Sounds like you have to partner with an agency....

I am a multi line agent, but even as a producer you will still need EO.

The liability issue is much bigger with PC than it is with LH.

A lot start out with a captive organization where the EO can either be provided/not needed at all.

Otherwise, you just have to pay the premium for the EO coverage.

 

[xcccyk]

You could find an agency that will you give you access to the companies for a commission split. You aren't going to find a direct way to the carriers without paying somthing or giving up some commission percentage.

I opened a personal lines independent agency over 3 years ago. I called each carrier that was competitive in KY & OH. I chose Safeco, Travelers, Hartford, Kemper & Progressive for both states.
I purchased E&O insurance and all my contracts are direct. I chose to work from an office instead of working from my house. I've helped two other local agents do the same...one of which, works from his house. All three of us have direct contracts. We also sell life/health.
Create a simple business plan, ask about competitive carriers in your area (Ohio should be the same as my carriers, depending upon your area), interview each carrier rep and fill out the application for appointment.
Don't let anyone stop you from following a common-sense approach to business. The toughest part of P&C is providing the service that's required...Think this through before changing your E&O and pursuing P&C.
I'm a Personal Lines P&C agent who happens to offer L/H.
Good luck!

 

[669comche]

I opened a personal lines independent agency over 3 years ago. I called each carrier that was competitive in KY & OH. I chose Safeco, Travelers, Hartford, Kemper & Progressive for both states.
I purchased E&O insurance and all my contracts are direct. I chose to work from an office instead of working from my house. I've helped two other local agents do the same...one of which, works from his house. All three of us have direct contracts. We also sell life/health.
Create a simple business plan, ask about competitive carriers in your area (Ohio should be the same as my carriers, depending upon your area), interview each carrier rep and fill out the application for appointment.
Don't let anyone stop you from following a common-sense approach to business. The toughest part of P&C is providing the service that's required...Think this through before changing your E&O and pursuing P&C.
I'm a Personal Lines P&C agent who happens to offer L/H.
Good luck!

You are a great example of how great this business is.

I wish you every success in the world, and if I can be of any help whatsoever feel free to contact me!

To your continued success!

Chris