Renters, Home owners policies

Truthfully19

New Member
12
Currently, I only offer life and health. As of late I've had a string of clients inquire about renters and, homeowners policies, of which I don't currently offer.
How does commission work on these policies?
What would be considered street level comps for each of these lines?
 
P&C is different than life and health in many ways, but at the end of the day a well rounded agency has a far easier time attracting and keeping clients. Not to knock specialists, many are located within full service agencies as well.

That said... an auto or renters/home pays 10 to 15% or more depending on the carrier and whether its packaged or not. Usually advanced for the policy period. This also depends on your access point. You can go direct to some carriers, and others want a kidney before appointing you, especially a newer agent (p&c). Some direct contracts pay less than a cluster or aggregator may be able to negotiate qualify for, but the group will take a cut (some far more than others).

Next part is contingency which in large is based on profitability of your book and growth. It may take far longer to qualify for this on your own, and you'll see ag and cluster agreements that range between nada, and nearly 100% participation.

I would 100% recommend you capture all of the lines of business you can with your clients. Even if its only a passive offering it grows steadily over time. Go for it and good luck. If you need anything PM me, I'm happy to help.
 

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