Independent Contractor?

[nlotts]

Hey everyone! I just wanted to get some input on another job opportunity. I was offered a producer position selling P&C from home. The agency has an office about 15 miles from my house but the owner wants people to sell on their own... like an independent contractor for his agency. The agency itself is an independent and sells for about 20 different companies. Here's a list of a few: AAA, AIG, Bristol, GO America, Hagerty, Hanover, Hartford, Infinity Group, MEt, Progressive, Safeco, and Travelers. I'm not sure if this would be a good move or if I should continue to search for a job as a producer with a different agency. Thanks for any input. Its greatly appreciated.

 

[Carlos Gil]

What will be the commission split, salary etc..

 

[jmhopkins40]

Hey everyone! I just wanted to get some input on another job opportunity. I was offered a producer position selling P&C from home. The agency has an office about 15 miles from my house but the owner wants people to sell on their own... like an independent contractor for his agency. The agency itself is an independent and sells for about 20 different companies. Here's a list of a few: AAA, AIG, Bristol, GO America, Hagerty, Hanover, Hartford, Infinity Group, MEt, Progressive, Safeco, and Travelers. I'm not sure if this would be a good move or if I should continue to search for a job as a producer with a different agency. Thanks for any input. Its greatly appreciated.

Do you have any difficulty contacting the owner and have they discussed career advancement? Do they offer any training or office support? Make money somewhere but keep lookin.

 

[nlotts]

Heres what I was able to find out about the job: The commission split you get is 65% of all commission for the first $3500 in commission dollars for a month and 75% for any amount over that. This is for both new business and renewal business. Also, you own 100% of the business you produce. Some of the companies have day training, but basically all the rating programs are similar. So basically on a $900 homeowners policy the insurance company, as a rule, will pay 15% or $135, you would get 65% of that. Is this a decent offer or should I hold out for a different job? What's everyone's take on this? Any input is greatly appreciated!!

Nate

 

[Norwayguy]

Heres what I was able to find out about the job: The commission split you get is 65% of all commission for the first $3500 in commission dollars for a month and 75% for any amount over that. This is for both new business and renewal business. Also, you own 100% of the business you produce. Some of the companies have day training, but basically all the rating programs are similar. So basically on a $900 homeowners policy the insurance company, as a rule, will pay 15% or $135, you would get 65% of that. Is this a decent offer or should I hold out for a different job? What's everyone's take on this? Any input is greatly appreciated!!

Nate

I don't sell P&C but i would make sure I got the 100% part in writing and the second issue is after you write them with XYZ insurance company under this broker what are the chances you can get appointed with these companies yourself down the road when you want to move on?

 

[tospears]

For a new agent, 65% is decent.Take this opportunity to learn the business. Are you paying your own E & O?

 

[anthonyc12]

i totally agree with tospears dont let this opportunity get away you will learn lots of things here like new business techniques and do look for other methods for making money while working here.

 

[blue_wynd]

i totally agree with tospears dont let this opportunity get away you will learn lots of things here like new business techniques and do look for other methods for making money while working here.

Sorry, but I don't see the benefit of reviving this old thread.