Hi, i just joined smart choice and regret it since it takes a day or same day binding authority. I need policy issued within 30 min since most of my clients are buying cars from a dealer and need insurance asap. Can anyone advise what other clusters provide instant binding? Thank you
Quick Binding Authority for Auto
- Thread starter zee123
- Start date
Doesn't Smart Choice get you binding authority? Most clusters start with you writing through the home office, but move you to your own appointments once you start some production.
You can get some direct appointments yourself with perhaps progressive and a regional carrier or 2.
Dan
You can get some direct appointments yourself with perhaps progressive and a regional carrier or 2.
Dan
In the P&C world, there are a few things that don't mix well together:
- New agent (agency)
- Easy / quick Appointments with standard / preferred carriers
- No proven history of production
- No proven track record of loss history
Progressive has historically been one of the easiest 'large' carriers to get appointed with, but in some geographic areas, they have clamped down a lot and wanting production and the ability to show loss history.
You can usually find regional carriers that will work with you, at least on the non-standard part.
That said, it never hurts to ask various carriers. You want to have conversations with them anyway and find out what they need to get an appointment.
Dan
- New agent (agency)
- Easy / quick Appointments with standard / preferred carriers
- No proven history of production
- No proven track record of loss history
Progressive has historically been one of the easiest 'large' carriers to get appointed with, but in some geographic areas, they have clamped down a lot and wanting production and the ability to show loss history.
You can usually find regional carriers that will work with you, at least on the non-standard part.
That said, it never hurts to ask various carriers. You want to have conversations with them anyway and find out what they need to get an appointment.
Dan
- 15,041
Those people are also a lot more work. While you can certainly build an agency off that market, it will require a lot more work per policy than the preferred market.
Totally get that. However, I am currently in the business of turning away business. While it is never my intention to focus on the more non-standard side of things, if there is money on the table, I want to be able to take it.
- 1,016
A lot more work for an agent new to non-standard. but once an agent learns the non-standard biz, there are procedures that go a long way in weeding out the bad/pain-in-the-ass customers..... then it just becomes a little more work, not a lot.
Preferred market is definitely better vs. non-standard, but not that big of a difference that agents who don't fool with non-standard make it out to be.
- 15,041
That makes a lot of sense. Although it sounds like this guy is also newish to insurance and working with a carrier that doesn't do non-standard. So he may not know the procedures to simplify his life when dealing with that market.
- 1,016
He'll learn quickly, as there isn't much to learn as far as the weeding process.... Learning how to deal with people bad about lapses & re-writes is the bulk of it.
On the other hand, getting leads primarily from used car dealers brings up other challenges.
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