Starting As Independent Agent

[pcmatt]

Hello Everyone,

This is my first post, but I've been reading through many of the current posts and I can't seem to find a checklist/road map for what's needed to start an independent agency in Michigan?

I would also be interested in any additional thoughts/ideas.

A little bit about me is that I have been working for a captive Allstate agent for about 2 months now and it doesn't feel like a great fit at all. I hate the idea of not being able to offer clients options as well as several other factors.

From the beginning it's been my plan to begin my own agency and started with Allstate to learn the products and the process.

I've searched the internet and I've seen several different sites that say I need to have one thing or another, but I'm just looking for a succinct list. E/O insurance? Llc? CGL? Thanks for any help provided!

 

[johnsharp]

I was an Allstate Agent as well and went Independent. I didn't have a real hard time getting appointments and got my E&O through the IIA.

 

[JimnTx]

You might want to consider contacting either Professional Insurance Agents of Michigan (PIA) or Independent Insurance Agents of Michigan (IIABM). Both associations are good and they'll help.

 

[learninsurance]

[FONT=verdana, sans-serif]Independent agents can sell the insurance products the same with brand name agents in most cases. There are some insurance companies or carriers that will not allow their product to be sold by an independent agent but for the most part an independent agent can still sell most name-brand insurance products. Independent insurance agents get a higher commission compared to insurance agents working from an insurance company or carrier. The disadvantage in being a captive agent is you only have one company product to sell but the advantage is you sell A+ products.[/FONT]​