The Greenhorn needs some help!

May 30, 2008

  1. Greenhorn
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    Okay Guys here's my dilemma. I have a job that pays very well ($43,000/yr bennies too!) ,and I work only 15 days a month. I'm firing up to sell FE on my days off with DM leads.

    Today my buddy in shelter Insurance calls and says ther're going to offer me a job that I interviewed for, 6 months ago!

    (An agent just up and walked away from an agency 3 yrs old with a book of 3-4 hundred pollices.)

    Shelter is captive, pays a training salary, office etc etc....

    I'm kicking it around because my paycheck job is a factory gig that could end up in Mexico, maybe ten years from now.

    I don't know anything about P&C, but neither did my buddy who's a NYLife guy with about 800 pollices now.

    He thinks I'm crazy to pass it up, but I don't know if that's a good book of business to begin with?
    Can you help a brother out??:goofy:

    Greenhorn
     
  2. djs
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    djs Super Moderator Moderator

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    So what your looking at, if you get full commission for the existing policies, is probably about $40K a year in service commission. Not a bad place to start.

    You would have to know what the expenses are to know what you are really walking into.

    My bigger concern is after 3 years, only having 3-400 policies seems extremely low for P&C. This is probably why he walked. This business isn't for everyone, so you'll have to find out more on this.

    Make sure the product is competitive in the area. I don't know anything about Shelter Insurance, but for you to succeed, you need a competitive product in multiple lines.

    Find out how other agents are doing, they should have far more than 400 policies on average, or I'd run away. A small, single person agency should have 800-1000, with an assistant, more like 1200-1500.

    It's hard to give up the security of a regular paycheck, and paid benefits. This is an opportunity to break out and make a better living.

    Dan
     
    djs, May 31, 2008
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  3. Greenhorn
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    Thanks djs
    Great points to consider!!
     
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