Picking a Company Name

squeed

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I just got my license and I have not given any thought to picking a company name and now it's that time. What are the guidelines that a few of you have followed in selecting your company names ?

-S
 
Here are some ideas (assuming you are located in NJ)

New Jersey Insurance Plans
New Jersey Insurance Shop
New Jersey Devils
New Jersey Insurance Consultants
New Jersey...It's not our fault that Trenton is in the state
New Jersey Insurance Inc.
New Jersey Insurance Quotes
 
I think that I like #5 the best, but only because it's true.

-S
 
Company names only matter if you plan to sell your practice to someone else and want some "goodwill" in the pricing of your book of business.

"squeed insurance services" would work just fine.

I'm basically "DHK Insurance Services" and will be filing my LLC very soon to have a broad definition of the kind of work I do.
 
Personally, I would shy away from "AIG", "Halliburton" or "Enron".

My Rules of Thumb would be:

1. A name that is easily remembered
2. A name that is easily spelled
3. A name that connotes a positive quality, such as strength, dependability, professionalism, protection, ethics
4. A name that doesn't tie you down in terms of services offered, or otherwise pigeon-holes you in some way.
5. A name that would work well with a cool logo

Business is often purely about image, at least at first. The name of your company is not a throwaway, so make it a positive in your overall picture. Consider the name/logo of your company a small piece of your marketing strategy. This is a tough, competitive business - give yourself absolutely every advantage possible. Your competition is.

My .02.....
 
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Here are some ideas (assuming you are located in NJ)

New Jersey Insurance Plans

Just as a piece of relevant trivia, in my state "Maine Insurance Plans" would not be allowable nor "Health Insurance Plans" etc. The DOI takes the position that that is leading the consumer to believe that you are actually a carrier rather than an agent/agency.

Probably there are a fair number of violations of this but it depends on whether a person is actually seeking a license or to register a DBA name where they officially review it. I dont make the rules here. If I did, there would be some changes. :)
 
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I believe in CA you must use the word "insurance" in the name.

Might I suggest "Neo-Con Insurance of New Jersey."

I remember seeing the card of a guy whom I assume spent time in the joint, which said "Ex-Con Insurance."

Find a name you can get the domain of.

Al
InsuranceSolutions123 Agency
 
While it certainly wasn't necessary for Al to take a "shot" (poor as it was) at people who don't believe in socialism, he did make a good point about a name that is the same as your domain.

I have been Green Sky Insurance Service for many years. I had to include the word "service" because the CA DOI didn't want consumers to think I was an insurance company. The suggested the word "agency" and I was able to get them to approve "service."

However, my new business cards no longer promote my company name. I have a card with the company name of TermInsuranceCalifornia.com and another with CaliforniaMedicarePlans.com.

By doing this, I do not have to list a web address and I think it gives me more credibility - or at least it makes it seem like I can use a computer.

If I was in NJ, I might choose ArmpitOfTheNationInsuranceServices.com. Or you could be NorthAtlanticManagedBenefitandLifeAssurance.com. It's a little long so I would just go with the acronym of "NAMBLA."

Rick
 
Just a hunch but i bet Nambla is taken, but who knows maybe MJ's estate would be willing to let it go for a fair price.

Indeed. Perhaps they will sell you the NAMBLA logo along with it though don't even want to think of what it might look like.

I can't necessarily agree with you though when you say they "would be willing to let it go for a fair price." Most likely, they would want your first born son.
 
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