Starting Captive Allstate OR Independent FE Agent

[PA Bill]

Granted it's hard to serve two masters but would Allstate forbid you from selling a little FE on the side outside their contract?

 

[KRobby]

Remember, this is a brand new baby agent that really doesn't know much, but is willing to learn.

Here's a 19 year old boy already doing 10k+ weeks. I don't know anything about that shop but pretty sure they're indy.

+ @6:42

 

[Newby]

Granted it's hard to serve two masters but would Allstate forbid you from selling a little FE on the side outside their contract?

Yes. They forbid it. Had an Allstate agent in my office yesterday.

 

[ExProgrammer]

I am licensed for both property & casualty and life & health.

I have several buddies that run property and casualty businesses and it's definitely more hands on & in the office bogged down on the phone type of work, which is not my personality. Therefore, life and health is where it's at for me.

You will have to decide what fits your personality better, running and gunning all day in the field as an independent life agent or caught up in an office the majority of your time with P & C.

Do you ever try to sell renter's insurance to any of your FE folks?

 

[SPUR CITY]

Do you ever try to sell renter's insurance to any of your FE folks?

No, I give that P & C stuff to one of my buddies here in town. They in turn give me the life stuff.

Network Network Network

 

[inreverse]

Some questions from a guy that owned a P & C agency
Are you a detail guy? if not go FE
Is Allstate competitive in your market areas? Don't take their word for it. Go to a large independent agency, get a quote for 2 cars and an average home, with one driver with a ticket, with an average credit score. Then compare to Allstate. If they are not very close to the top, forget it, your warm market will dry up fast. Price is a big deal in the beginning of building a personal lines agency.

 

[argar5]

What would be better between Allstate and finding a good IMO with top contracts, DM lead cost, and free quality training? Remember, this is a brand new baby agent that really doesn't know much, but is willing to learn. I do tend to know more about Life products the most, then health, then P&C stuff. Where is more money for the amount of time you have to put in? Think short term and long term. Also, Allstate has offered me a base salary to get started (Probably between $28,000-30,000) then commission on top of that. This would transfer to almost all commission based once I got good. They provide all the leads (Some cold calls, I'd have access to the owners book of business, and some pet insurance (and other weird stuff to sell). Not to mention, I know personally know the owner, and he is a good guy. He says you would have to work 50-60 hours a week starting out to be successful which includes night calls. He says he is planning to retire in 7-10 years and wants to sell his BOB (book of business) and his agency (Which is small) and it would make sense to take on a young guy to learn the Greensboro, NC area and his clients, so I could pick up right where he left off and not lose too many people. Thoughts?

No brainer. Go with Allstate. If I had to do it all over again I would. I have 38 years in the business I see FE guys struggling you write them and then they laspe. Iwas a W-2 Agent and Manager for 28 years so I have a great pension and a nice 401(k) Go with the W2.