Hey everyone, so I've been lurking here for short while now and have found this site to be extremely helpful..I'm 6 months into my new career selling final expense as an independent agent and so far so good..long story short, I have a very susseful friend in real estate who says if I get my p&c he can hook me up with several lending agents who would send people my way that are looking for homeowners insurance...my question is the juice worth the squeeze so to speak? How are commissions on this type of insurance and is it possible to remain independent? Any help would be appreciated!
Questions About Selling Homeowners Insurance
- Thread starter Tbird
- Start date
- 995
Depends on your state but I would say any where from 12% to 17%...to the agency though, not the producer. You will probably have to go work for an agency to sell p&c products.
- Thread starter
- #3
- 252
There are many ways to use a P&C Lic to make money. One of the many Pros involves residual income.
Policy has a $5,000 premium, generates $500 that has to be split and that doesn't sound like a lot of money but you build this book up to say $1MM and you probably have $25,000 in your pocket with the split just on folks who already bought from you.
That book eventually can be cross marketed to Small Business Owners, Auto, Home, Commercial GL, Attorneys of all shapes and sizes carry liability in case they are sued. And everyone needs or uses the type of insurances that a P&C represents.
Policy has a $5,000 premium, generates $500 that has to be split and that doesn't sound like a lot of money but you build this book up to say $1MM and you probably have $25,000 in your pocket with the split just on folks who already bought from you.
That book eventually can be cross marketed to Small Business Owners, Auto, Home, Commercial GL, Attorneys of all shapes and sizes carry liability in case they are sued. And everyone needs or uses the type of insurances that a P&C represents.
- Thread starter
- #5
- 252
How will you get appointed by quality carriers? I work in independent agency, I don't really need them for sales support but I instantly had appointments with carriers that most agents just passing the test will not have at their disposal.
100% of nothing is nothing, 50% of anything is significantly more
But being an entrepreneur myself I understand your feelings. I am learning for right now and without splitting hairs, not having to worry about payroll, overhead, etc...I still have control over my book which is like owning your own business. I control what businesses I want to market to, how much time I need to invest in meeting these folks, there is plenty of entrepreneurial spirit in being a P&C agent.
Good Luck to you, hope you find what you are looking for.
- 977
You don't necessarily need to take a 9-5 p&c job. There are agencies who would love to have an outside producer on commission only...
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