Quoting Insurance on the web

[wfs]

I'm thinking about the compliance required for quoting insurance on the web. Let's say I am licensed in only one state, but my site serves quotes from all states (as most do).

Do you think I would be out of compliance by offering quotes in all states? I suppose I could sell those leads to licensed agents in the respective states.

As long as I do not attempt to solicit insurance to people in states that I am not licensed in, I suppose I should be OK.

Any ideas?
Thanks

 

[moonlightandmargaritas]

Providing a quote IS soliciting.

 

[djs]

Most quoting sites limit the quotes to states that can be written in. This does not stop someone from changing their zip code to something in your state, but then, they are getting a quote for your state.

I'd suggest rather than trying to find a way to rationalize something, just make the right thing work, stick to your own state.

By the way, as an agent, I don't really want to buy leads that have been presented a quote by someone else, especially if that person doesn't have to worry about whether that quote works in my state.


Dan

 

[wfs]

I will probably integrate one of the compulife solutions into a website. I asked web4agents if they could restrict selection to states that I was licensed in and this was their response:

All of these options are fixed and cannot be changed. You are however able to select the companies that you would like to appear within the quotes.

​

After browsing the web, it seems that all agent's term quoting websites display all states. What many (not all) of them do say is what states they are licensed in and they list their license numbers.

 

[cdpowell]

I use Norvax to quote on my website. I only quote one state ( Pennsylvania). The software will allow me to quote up to 12 states but I have to be liscenced in all 12 of those states. Reallistically, I will probably just stay local because that is the market I know.

 

[wfs]

I use Norvax to quote on my website. I only quote one state ( Pennsylvania). The software will allow me to quote up to 12 states but I have to be liscenced in all 12 of those states. Reallistically, I will probably just stay local because that is the market I know.

They do just health right? No life insurance?

 

[hlink20]

I'm thinking about the compliance required for quoting insurance on the web. Let's say I am licensed in only one state, but my site serves quotes from all states (as most do).

Do you think I would be out of compliance by offering quotes in all states? I suppose I could sell those leads to licensed agents in the respective states.

As long as I do not attempt to solicit insurance to people in states that I am not licensed in, I suppose I should be OK.

Any ideas?
Thanks

Many of these sites will handle all quotes, but will only pay you in the states you are licensed in. Some firms will pay a referral fee for the lead if quoted. Referral fees and regulation vary by state.

 

[hlink20]

And some sites takes the leads from your own state that your website generated, and mysteriously sell them to other brokers.

Wait...Did I say that?

Again I would validate your provider