P&C or Personal Lines?

[Mutherrunner]

I'm a licensed Life and Health agent in SC and onboarding with Allstate.

I was studying for my P&C and then requested to study for Personal lines instead.

I'm confused, which will make me more $ and which one is more difficult?

Thanks in advance, you guys rock!

 

[adjusterjack]

I'm confused

Yes, I can see that.

Personal lines is a subset of P&C (Property/Casualty). Personal Lines (auto and homeowners and the like) contain both property and casualty (liability) coverage.

If you continue studying P&C you will learn most of what you need to know for auto and homeowners.

As to which one will make you more money, it's like breeding an elephant with a rhino.

Elefino.

 

[fed up]

You will make more money MOT on boarding with Allstate until their purges have been completed or Tom Wilson is no longer king.

 

[marindependent]

which will make me more $ and which one is more difficult?

They are both difficult and they are both hard to make money from.

Which do you have more of a natural inclination towards?
@adjusterjack nailed it - Personal Lines is part of P&C.
Really P&C is often split between Personal and Commercial lines. In general commercial lines is more complex and where more money can be made. [Although there are a lot of complexities to this statement and not necesarily always accurate.]

But frankly much of this is subservient to your Master Contract with your Captive Insurer. You need to read that and understand that contract first.

Lastly in the begining its likely a good idea to be familar with all types of insurance.

 

[Markthebroker]

Really P&C is often split between Personal and Commercial lines. In general commercial lines is more complex and where more money can be made. [Although there are a lot of complexities to this statement and not necesarily always accurate.]

True, commercial P&C is more profitable than personal lines. However, since commercial lines is much much harder to learn, and generally harder to get established, I strongly suspect the failure rate is higher, which needs to be taken into consideration.

It took me a matter of months to get proficient at writing personal lines, while it took years for commercial. Furthermore, just about everybody needs personal insurance, while a fraction of the population needs commercial insurance. Finally, selling someone commercial insurance is different than personal or health. It's a different type of conversation with different goals.

Finally, the type of person that is buying personal insurance is often different than the type of person that is buying commercial insurance. Typically only a certain type of person is purchasing a commercial policy. This is generally a more intelligent and sophisticated buyer relying on numbers and logic which can make the sale easier or harder depending on how you sell. For me, much much easier. For others, much much harder. Often times they're asking questions they already know the answer to, and can sniff out BS a mile away.

 

[thomasm]

For some reason, I've found getting direct contracts with commercial carriers easier than getting direct contracts with personal lines carriers. At least with the "insuretech" carriers. (Next, Coterie, biBerk, Pie, etc) For the big legacy carriers I still have to work through aggregrators.

Commerical accounts have much bigger annualized premiums, which translates into much bigger commissions! The best way to get familar with commerical lines is learn each carrier's preferred industry appetites. Then when you've done that, learn all you can about those industry niches, and what all thier potential risks are.

Also study the different naunces of each carriers product lines. Does one carrier's Business Owner's Policy (BOP) offer something better than another's? How does it compare to thier State Farm, Farmers, or Allstate BOP? Taking the time to learn all this and niche down on the appetites your carriers perfer will make you a better producer, and make you more money than just focusing on personal lines.

 

[ModernInsurance]

Start with personal lines. Do that for a few years, then when that gets boring move on to small, then medium, then large commercial accounts.

The natural progression of a P&C broker.