RISKY? -- Growing Fast W/ Monoline Mutual Property Carrier

insurance1822

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So I've been growing rather quickly with a monoline property carrier (homeowner's & dwelling fires..) and I'm wondering if anybody here has been burned before? They're A rated, 123MM in WP & total assets are 412MM. I've written about 300k in 2.5 years w/ them..

Just worried about continuing to grow w/ a smaller monoline carrier. Maybe they get bought out? Who knows. any input appreciated
 
This is relevant to my interests. The standard/preferred carrier I just started working with is similar. Less than 100MM wp, and monoline auto with very limited commercial appetite. They kill it in their target market. Sent them 13 apps in my first month with them and by all indications will continue. They have already been bought out by a mega huge carrier a few years ago so that's out of the way. Just concerned about putting too much of my book with them.
 
So I've been growing rather quickly with a monoline property carrier (homeowner's & dwelling fires..) and I'm wondering if anybody here has been burned before? They're A rated, 123MM in WP & total assets are 412MM. I've written about 300k in 2.5 years w/ them.. Just worried about continuing to grow w/ a smaller monoline carrier. Maybe they get bought out? Who knows. any input appreciated

Try to diversify as much as you can. I am coastal and have a lot of smaller carriers and if one is $120 higher, I tell the client I like this other co for only $10 more a month.... Works more than you would think.

Also, ok- here is my secret for getting the bundle even w/ different carriers.
I tell them that I have 10 different companies and I'll shop for them. Then I say I'm going to grab information on the house, then I'm going to grab some personal information, and lastly I'll run through some possible discounts.
1. Ask the usual questions about the house.
2. I transition by saying let me now grab some personal information and then I'll run through some questions regarding discounts. This is where I asked for birthdays and socials, I rarely ever(maybe once a year) have someone refuse to give me their social since we just went through all the information on the house. Also builds trust.
3. "Now let me ask you some discount questions." I asked the normal discount questions. Then say two more questions left. I have some carriers to have discounts with Life insurance companies, outside of work, who do you have your life insurance with?
Last discount question, you've seen the commercials where you bundle the home and car together and you can low everything by 20% percent, let me check those carriers out for you also... Now I asked the very basic questions to get an auto quote and ask what they're currently paying on the current auto insurance each month....
This is how I bundle so many policies and sell less Minolines.
I'm doing text-to-speech so I hope this all makes sense
 
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