Which Businesses Average $15k-$25k in Annual Premiums?

[h3r3t0l3arn]

I'm formulating a tentative business plan for speculative purposes haha. Just for fun.

Could the kind producers here at insurance-forums simply list which industries/businesses pay around $15k-$25k in premiums annually?

Thank you in advance.

 

[Comm_Ins]

Grocery stores 10,000-25,000 sq ft
Shopping centers with 10 or more tenants
Office buildings 2-3 floors 30,000-50,000 sq ft

Franchise Hotels with 2-3 floors
Law firms with more 8 attorneys
Restaurant 8000-15,000 sq ft
Commercial auto fleets
Limousines service
Gentlemens club

It's also good to focus on small franchise owners that have multiple locations. It is common to see franchisees expand and have multiple locations of the same business. This could turn into a very large account.

Hope this helps

 

[Matt37]

every industry can average $15-$25k in premium depending on size.

I would not take that approach..

first, find a niche (find one hard to place that not every BOP writer is going to quote) .. study that niche and know it inside and out.. first go after the little guys within that niche ... eventually the $15-$25k guys within that niche will start hearing about you and call you.

All professions out there are tight communities and talk to each other .. some more than others .. truckers are the biggest with this.. you write 2 or 3 truckers and your phone will be blasting all day as word gets around you have a cheap market.

down side is: you might lose them all to the next guy who finds a new market before you ...

 

[h3r3t0l3arn]

Thank you both for your input, the list and the advice really does help me out.

SO - if I may ask you a question that's kind of cheating, what niches do you see right now that you would think would be a wise one to jump into and learn?

Say, if you were to start all over from day 1 what would be a few niches you'd consider?

 

[todd02]

Depends on what your carriers niche markets are.

 

[insurance1822]

^ ya cause you have a lot of carriers & you'd def know that right? Farmers Chump

 

[Matt37]

Yeah forgot to mention that part.. make sure you have a carrier looking to write that niche before attacking it!

You would be surprised how many producers I know that go balls to the wall prospecting niches they have no market for...

I know some on here don't like them but grill your marketing reps on what the carrier is looking for and what products they want to build their book on .. then go target them.

 

[todd02]

^ ya cause you have a lot of carriers & you'd def know that right? Farmers Chump

You do know that with commercial Farmers Agents can broker out to any carrier they want, right? (Newer Agents can only IF Farmers doesn't write the business. I think you meant Champ... Haha.

 

[robtmccarthy]

Yeah forgot to mention that part.. make sure you have a carrier looking to write that niche before attacking it!

You would be surprised how many producers I know that go balls to the wall prospecting niches they have no market for...

I know some on here don't like them but grill your marketing reps on what the carrier is looking for and what products they want to build their book on .. then go target them.

Ask your underwriters not marketing reps... marketing reps typically say they write everything.. and the underwriter is a solid HELLLLL NO on half the crap marketing reps say yes to. Just my two cents.