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Reply to What Type Insurance Carries Highest Premiums?     
Old 07-29-2017, 04:20 AM   #1
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What Type Insurance Carries Highest Premiums? What Type Insurance Carries Highest Premiums?
I've been selling Waterfront Condo Association insurance with a friend. When he got into the business some premiums were over $500,000! One deal would pay him $50k.
With our deal being a 50/50 split, I got into selling based on my average commissions being $20,000 to $30,00 per sale.

Now that I'm in the business I learned that rates have declined and my average commission is closer to $5,000 to $10,000 per deal.

Now he is selling his agency to a larger company which is making me want to look elsewhere for opportunities.

What commercial insurance carries the highest premiums thus the most potential income per sale? I'm 55 and planning on doing this for another 10-15 years.
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Old 07-29-2017, 10:59 AM   #2
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adjusterjack on What Type Insurance Carries Highest Premiums?
 
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What Type Insurance Carries Highest Premiums? Re: What Type Insurance Carries Highest Premiums?
Originally Posted by Woods Rider View Post


What commercial insurance carries the highest premiums thus the most potential income per sale?
Insuring Betty Grable's legs and Jimmy Durante's nose comes to mind.
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Old 07-29-2017, 02:44 PM   #3
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GreenSky on What Type Insurance Carries Highest Premiums?
 
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What Type Insurance Carries Highest Premiums? Re: What Type Insurance Carries Highest Premiums?
Workers compensation for roofers, salvage divers and those who wear red shirts on Star Trek.

Rick
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Old 07-29-2017, 06:40 PM   #4
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entrep1776 on What Type Insurance Carries Highest Premiums?
 
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What Type Insurance Carries Highest Premiums? Re: What Type Insurance Carries Highest Premiums?
Older sister is Ob/gyn. Her Malpractice insurance was going to be so high in IL that she decided to practice in Indiana. Anyone have any doctor's /hospitals malpractice insurance number$?
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Old 07-30-2017, 11:14 AM   #5
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entrep1776 on What Type Insurance Carries Highest Premiums?
 
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What Type Insurance Carries Highest Premiums? Re: What Type Insurance Carries Highest Premiums?
Originally Posted by Trentbolt78 View Post
Not in collection right now.
What do you have in your collection right now?

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If you wouldn't say it to someone in real life, why would you type it to someone on the Internet?
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Old 07-30-2017, 07:59 PM   #6
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jlanier on What Type Insurance Carries Highest Premiums?
 
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What Type Insurance Carries Highest Premiums?
Originally Posted by Woods Rider View Post
I've been selling Waterfront Condo Association insurance with a friend. When he got into the business some premiums were over $500,000! One deal would pay him $50k.
With our deal being a 50/50 split, I got into selling based on my average commissions being $20,000 to $30,00 per sale.

Now that I'm in the business I learned that rates have declined and my average commission is closer to $5,000 to $10,000 per deal.

Now he is selling his agency to a larger company which is making me want to look elsewhere for opportunities.

What commercial insurance carries the highest premiums thus the most potential income per sale? I'm 55 and planning on doing this for another 10-15 years.
Where are you located?
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Old 08-22-2017, 04:05 PM   #7
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What Type Insurance Carries Highest Premiums? Re: What Type Insurance Carries Highest Premiums?
I think the best way to make a lot of money is to focus on high retention clients who are also high premium. Not just high premium. HOA premiums are huge, but also very high turnover and very hard to keep. Very hard to get in the door and get ahold of the decision maker. Lots of politics and back door under the table deals, too. Every HOA has a board of several people that come and go. Each of those people on the board have cousins, spouses, neighbors, etc. that sell insurance. Typically as well the board votes to shop the insurance each year. Very hard to keep on the books.
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Old 08-27-2017, 12:50 AM   #8
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What Type Insurance Carries Highest Premiums? Re: What Type Insurance Carries Highest Premiums?
I think home and auto insurances.

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Shawn Camp Insurance Agency, Inc.
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Old 08-27-2017, 09:37 AM   #9
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What Type Insurance Carries Highest Premiums? Re: What Type Insurance Carries Highest Premiums?
The higher the premium, the higher the turnover and the more competitive it can be to acquire and retain. I'd rather find decent sized accounts that I could keep on the books a while. Find a niche you can serve better than the next guy.
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Old 08-27-2017, 11:33 AM   #10
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somarco on What Type Insurance Carries Highest Premiums?
 
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What Type Insurance Carries Highest Premiums? Re: What Type Insurance Carries Highest Premiums?
Situations with the greatest amount at risk generally carry the highest premiums.
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