Personal Lines Wholesale Markets?

[JHickswbis]

I've had good luck finding commercial markets but horrible time finding some personal lines. What is a good wholesaler or mga ect... I could use for personal lines that...

1.) Doesn't require minimum experience
2.) Doesn't have overly-exclusive contracts.
3.) Doesn't cost too much or have hidden BS fees that are brought up later ?

Thank You

 

[indienoise]

personal lines can still be pretty broad, and there are different MGA's out there depending on what you need:

-mobile home
-homeowners (standard or nonstandard) and dwelling fire
-inland marine
-umbrella
-recreational
-flood
-auto or home/auto

what are you looking for? and are you captive or indy? New agency or new agent altogether? In business for yourself or working at an agency and looking to do business on the side?

 

[JHickswbis]

I'm a new agency. I am looking for standard home/auto. I do have some clients who have some smaller single family rental operations that are more dwelling/firing policies also.

 

[indienoise]

You probably already know about Superior Access, I'm assuming you don't care for their monthly fee (which honestly isn't much, IF you plan on doing much business with them). I've noticed they must have lost a contract or two here recently, and they've changed their binding process so it's more drawn out, which I don't care for.

Appalachian Underwriters has a pretty decent market access program, they have a very reasonable annual fee, which they'll later waive as long as you are binding business through them. They've got pretty good carriers for home and auto but only want very clean business. Prior limits MUST be higher than state minimum, no nonstandard prior ins, and even a single weather claim will d/q a prospect. However, their binding process is extremely simple and extremely quick compared with Superior Access. They also have self-service markets for nonstandard homeowner and mobile home, and have a good commercial brokerage as well.

IIAB has a market access program, and after you produce a little bit they'll get you direct subcodes. One-time fee for the market access, though you'll be paying for the IIAB membership as well, but dues are reduced for your first two years in business. Other benefits come along with it as well, if you're not already familiar. They have a little bit larger take on the split than some of the wholesalers, but it's a graduated scale based on production so it can end up being pretty decent. Their folks have been pretty quick so far, which is nice. Two years after you get your subcode, you can roll to direct appointment. Also have limited commercial markets.

 

[mschlange]

What about Smart Choice?

 

[JHickswbis]

Thank you so much! I did talk to smart choice. I was not happy with their contracts (they were very binding) and the whole process (there were all kinds of hidden fees). Basically everything the rep told about it was exactly opposite from what the contract presented.

 

[Coloradoskier]

JH, I am in the same situation. Have you decided which one you will go with? There are so many choices. Please keep us posted.

 

[JHickswbis]

I called all 3 last week and had no answer. I'm going to try again today.

 

[Coloradoskier]

I emailed Insurance Noodle regarding a non-compete clause. They just replied to say that they would require a non-compete clause to sign. I don't think I will go with them.