3 Things You Need Before Starting Your Own Insurance Agency

Insurance Blog

If you have experience selling insurance, and you are tired of working for other people, you can start your own insurance agency. If you want to work as an independent insurance agent and open up your own agency, you can make that happen for yourself with the right plan and experience. Here are some tips on how to start casualty insurance agency. 

Make Sure You Have Capital

Before you start your business, you need to save some money. You are going to need to have money to purchase or lease a building to work out of. You are going to need to make a security deposit and often first and last month's rent on an office space. You will need to lease or purchase office equipment, computers, and software. You will have to obtain the right licensing as well.

All of this costs money. The costs can vary greatly from the region of the country to the next, so do some investigative work into the cost of retail spaces in your area, the cost of obtaining the appropriate licensing, and the cost of office equipment and computer software.

Obtain Access to Insurance Carriers

Next, you are going to need to obtain access to insurance carriers. You are going to need to work with insurance carriers so that you can sell their insurance products to your clients. As your insurance agency is an independent agency, that means you are going to want to work with multiple carriers so you can give your clients as many options as possible.

Many insurance carriers will ask to see a business plan and details about your business, so you will need to have a detailed business in order to obtain access to the insurance carriers that you want to work with.

Create a Plan for Getting Clients

Finally, you are going to want to make sure that you have a plan in place for getting clients. How are you going to find clients? You are going to need to do networking in order to find clients. Make sure that you have a detailed plan set-up for obtaining clients. This is an important part of your business plan.

If you want to open up your own insurance agent, you are going to want to make sure that you have the capital to open a business, you are going to want to obtain access to insurance carriers, as well as create a detailed plan for getting clients. These are some of the necessary steps you'll need to take in order to open your own insurance agency.


21 April 2018

Finding Better Insurance

I have always been someone who loves to work hard for what they have, which is why I started paying attention to how I was protecting my investments. I realized that although I had great medical and dental insurance, my car needed a little extra protection. I started working hard to find an insurance policy that would work well for my needs, and before I knew it, I was able to sign up for a new policy. This blog is all about choosing a car insurance policy that works well for you and your family, so that you don't have to worry about falling short.