- 29,517
Maybe they've got you blocked and can't see your question, or maybe your question is too vague. Be more specific. Welcome to the Forum.
People in the Business 3-5 Yrs how Are Your Renewals?
- Thread starter sirherbie
- Start date
Maybe they've got you blocked and can't see your question, or maybe your question is too vague. Be more specific. Welcome to the Forum.
- 19,035
I would guess that's it's pretty much an unanswerable questions is why no one answers it.
How much are you going to write per year? What's going to be your renewal levels? What's going to be your 4,5 and 6 year persistency?
I know some very good agents that have been doing this for a while and they make $30,000+ in renewals. I also know know some very good agents that have been doing this a while that make less than $10,000 per year in renewals.
The question is too broad and has too many varibles to be answered.
Jd you said just recently that when you went under $250 a month with LH they cut you off. So that statement alone made me think you make very little in renewals. If one does $200k in ap for 5 straights years and only has 40% 5 yr persistency that's $32k a yr. So willing to bet since so few talk about persistency that 20% or less after 5 yrs is the norm. This gets back to the reality that just like an Fe agent must order leads forever(he can't make a living off referrals) he also can't survive off renewals like a p&c or med sup agent can. This is a big consideration for people looking to build a big renewal base 10 yrs from now.
Indeed. JD kind of touched on med sups earlier in the thread. Moral of the story? If you are in it for the renewals, sell med sups.
(sorry for playing Capt. Obvious)- 19,035
Yes, with that one company. I didn't write a lot with LH. Maybe $35,000 or so in my best year? I was just using them as a cross sell to MA.
When the renewal income dropped below $250/mo they keep it. I don't even know what it is now. The first month I didn't get paid from them I called about it. They said I had $245 for that month. The lady on the phone called it "legal stealing".
But that's just one company. I don't get renewals from Americo either for about a 3 year stretch there.
And I don't get any from AmAm. That's it. I get renewals from every other company including the term renewals from F&G and Shenandoah. Those are prety small, only 1 and 2% but I wrote a lot of it. I get a deposit from F&G every Tues and from Shenadoah every Friday.
- 16,908
That should be a pop up warning that everyone new to the forum gets every three minutes!
"I would definitely suggest you stay away from the IMO's that are trying to recruit you by Private Message. Those are often the desperate ones that you don't want to deal with."
The golden rule of the insurance forums.
maitemia
New Member
I'm planning to move to Florida.
- 847
As long as you plan on working south of I-4 or the Tampa area.
maitemia
New Member
Can you expound on why it would be better there? Better than, say, the Orlando area?
Anyone else with suggestions? Where would you go if you were to start over?
Any ideas would be GREATLY appreciated!
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Anywhere in the states...
- 847
Orlando is fine. Just stay out of North Florida... it's horrible up there.
