Typical Commission Splits

[agentjhc]

A local independent agent and I plan to meet later on in the year to discuss the possibility of me working in his office on a straight commission split.

Question: What is the typical split on 1st year and renewal commissions for P & C?

 

[fearsback]

A local independent agent and I plan to meet later on in the year to discuss the possibility of me working in his office on a straight commission split.

Question: What is the typical split on 1st year and renewal commissions for P & C?

This all depends if they are getting you leads and training you. The average is 50% new and 40% renewal but it all differs on a lot of factors. Good Luck.

 

[RFMaurone]

The "split" is only part of the story, you need to understand who "owns" the account. Get it in writing with examples just like the co-insurance penalty clause. If you get this wrong you could really regret it. Lastly, I have seen a lot of older brokers take advantage of the younger folks in the business, don't be one of them. If I can help shoot me a note.