Questions about anyone who sells auto insurance (homeowners too)

[marindependent]

When you say getting access to insurance carriers is half the battle, what do you mean?

I mean that forget what you know about life insurance [and possibly just stay there.]

Appointments to PC insurance companies are handed out like the crown friggin jewels. You will not get them, more or less, when you start out. You need to find an aggregator to get access. With total respect, go read a couple of hundred posts about Aggregators, Clusters, etc and come back. All of the information that you need is out there on this forum.

 

[fed up]

Please dont misconstrue my comment. If you don't like selling insurance or cold calls you already answered your own question

 

[Markthebroker]

Hello folks,

For anyone who is licensed to sell auto insurance, can you answer some questions for me and be totally honest?

Is it worth getting a license to be able to work in selling auto insurance? Is the industry changing at all, like I know that driverless cars are the future, so they say, but is it a good market to still be able to make a decent income since this type of insurance is required, unlike life insurance?

Do you enjoy your work?

What license would I need? Can I get away with just getting the Property Broker one (I think that's the one where you can sell just personal car insurance) or do I need the full monte, P and C license?

Can you sell independently under an IMO like you can with life insurance or do you exclusively work for a company once you get your license?

Anything else you could tell me about that line of work, both the positive and the negative, would be greatly appreciated.

I already have my life and health license, but I just do not enjoy the cold calling, my upline I'm stuck with now and I have not gotten good info on leads etc, but even if they did, I just do not enjoy the work. I was with Encino's Wise Choice and was their top premium producer the first month I was there, but as with sale, the quota went up the more you sold and they would hire on people and let them go the next day etc if you get me.

I'm now labeled as "insurance" in terms of work so it's difficult to find work in anything other than life insurance.

Thanking you in advance for any information you can provide me, you are appreciated.

Commercial insurance in general is extremely profitable, and once you are up and running it's a sweet gig. Most higher end commercial clients are not going to want to use a website, no matter how much the industry goes in that direction. I work part time and make a full time income. I usually only work a few hours a day now. The catch is, it's going to take about 5 years or so of hard work to get up and running. 5 years of getting your butt kicked, getting sharked on deals, learning the industry the hard way, and making next to nothing.

 

[Ryan Brinton]

I've been selling P&C insurance for 13 years
Mostly personal lines
Selling personal lines P&C is a no-brainer for me for the following reasons

1) It's a product people must have by law. Life insurance is optional. Auto insurance and home (if they have a mortgage) is required, so it's an easier sell.
Everyone is your target market because nearly everyone drives a car and lives in some sort of structure that needs insurance

2) Easier sell than any other insurance product. I'm an independent agent with contracts with the best companies in my state, so I offer the best rates. People shop on rate, and when you are independent with lots of companies and options, it's an easy sell

3) Residual income. Imagine collecting $15 from 5,000 people each month ($75,000 per month) That's the P&C objective
Along with that comes a lot of servicing and maintaining of your clientele, but it's a small price to pay to get those residuals each month.

4) it's economy proof. Recession, Covid, it doesn't matter. People will always be buying P&C insurance
Automatic cars and AI pose no immediate threat to the industry either. There will always be demand for P&C agents who offer great rates and service

The key to P&C insurance success is getting contracts with the right companies within your state. Do NOT go captive (State Farm, Allstate, etc) Their rates suck, their commission are low and the corporate suits will always be breathing down your neck with their production requirements
My advice: Find out who those independent companies are and then find the best way to be able to represent those companies. Hustle and work hard and in a few years, your only regret will be that you didn't begin sooner.

 

[marindependent]

That is a great first post Ryan Brinton.

 

[Markthebroker]

That is a great first post Ryan Brinton.

He hasn't posted much yet, but his other stuff is pretty good. I expect we'll see much more good stuff from him. Too bad he isn't in California with us.