Thinking About Getting License for P&C!

Oct 31, 2015

  1. luv2sell101
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    luv2sell101 New Member

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    I am thinking about getting my license for P&C. I have license for health and just passed my life test. My dad has been selling life and health for about 25 years now, and said the reason why he didn't get into P&C is because it is an hassle. is this true? for example have to take pictures of property ect. also how are the commissions with P&C? any info or feedback would be great thanks in advance!
     
  2. SmartWorker
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    SmartWorker Expert

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    P&C is the slowest way to extract profit from the insurance business, even if selling policies is easier.

    There's two things I can see here. If you were able to cross-sell your father's book on P&C, that could be a simple way to get your own book built up and solidify the relationship with your shared clients.

    The other thing I can see is the possibility that your father may have a successful network to connect you to health and life opportunities. Those businesses are profitable and you may be able to get your own business running more quickly by leveraging what your father has built.

    Not really advice either way, but hopefully this helps.
     
  3. lyncray
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    lyncray New Member

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    Your dad is absolutely right. I got my P&C in June this year, and have no appointments at all, they want you to have a lot of business already under your belt, and I haven't been able to find any MGA's to work through, although you can get into a franchise and pay a ton of money, but who wants to do that with no experience in this field. I have applied for jobs for like Statefarm, and they want you to renounce all appointments with your current license, and be captive for about $12 an hour. So do your homework.
     
    lyncray, Oct 31, 2015
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  4. indienoise
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    indienoise Guru

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    Getting products to sell isnt hard. It's direct contracts with binding authority.

    You can get wholesale access with online rater for personal lines through:
    Superior access
    Smart choice smart start
    Agent secure
    Appalachian underwriters
    And probably others.

    Some nonstandard companies might work with you. But typically the carrier's you want are looking for someone they know can produce and bring in the kind of business they want. Either get a wholesaler to use until you can get the contracts, or look for a cluster.

    Expect around 10% with a wholesaler. With your own contracts more like 15% and up.
     
  5. lyncray
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    lyncray New Member

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    Thank you for sharing, I will definitely check out a few of these resources!
     
    lyncray, Oct 31, 2015
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  6. Gulfman
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    Gulfman Guru

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    Why not start with an Agency...build your book, then after a few years, find an MGA?

     
    Gulfman, Nov 1, 2015
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  7. barbagentsnet
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    barbagentsnet New Member

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    If you are in Florida there is another option for you - AgentsNet - seriously - not a franchise - offer sooooo much - check out our website and/or give me a call - Barb- if you are in Florida - we plan to move into all the states, but are growing Florida first!
     
  8. shawnmwalker
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    shawnmwalker Guru

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    Luv2Sell,

    P&C is where it is at!
     
  9. LAPINSGRP
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    LAPINSGRP Expert

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    I concur.....I am part of a cluster in WNY only two years in myself so I have a long ways to go, but every other agency owner in the group with P&C, not one makes under 200K...
     
  10. insurance1822
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    insurance1822 Guru

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    I remember that "once i hit 200k..." i figured nothing would matter and money was fullfilled. now that number is 500k.

    yes...P&C is a hassle. if you do it right, you'll make lots.
     
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