New to Commercial Insurance

[Mizzouagent]

I started my insurance career with State Farm and worked there for 3 years. In the last year I have become an independent agent and I have sold nothing but personal lines insurance. I've never sold commercial. Starting next week I'm going to start diving into commercial insurance side. I basically want to know what questions I should be asking once I get these guys on the phone? Is there a good flow chart or quote sheet out there anybody uses?

 

[FEX Quotes]

I started my insurance career with State Farm and worked there for 3 years. In the last year I have become an independent agent and I have sold nothing but personal lines insurance. I've never sold commercial. Starting next week I'm going to start diving into commercial insurance side. I basically want to know what questions I should be asking once I get these guys on the phone? Is there a good flow chart or quote sheet out there anybody uses?

I would strongly recommend working with an experienced mentor prior to diving into commercial solo.

 

[FL P&C Broker]

Hartford has a commercial school. I think it is $3k though.

Unfortunately there isn't a whole lot of resources out there. There is plenty of schools that will help you pass the class, but not a whole lot that will teach you forms and what questions to ask.

 

[Lopezshow]

I started my insurance career with State Farm and worked there for 3 years. In the last year I have become an independent agent and I have sold nothing but personal lines insurance. I've never sold commercial. Starting next week I'm going to start diving into commercial insurance side. I basically want to know what questions I should be asking once I get these guys on the phone? Is there a good flow chart or quote sheet out there anybody uses?

I started doing Commercial barely at the start of this year and I have learned a great deal and still am. Read how to on Acords and ask the carriers a lot of questions. The General Agencies will answer your questions and help u on the forms if you get cool people. Read up on this board on posts and try to learn more everyday.

I've spent hours researching to learn I even made every Monday my research day. Every risk is different read on all the coverages and be able to identify what you are doing on the acords or supplemental applications.

Always ask questions and try to get fillable acords and saved them pre filled for your basic info to be more efficient in the process.

Find good finance companies due to insureds not having the whole premium at times and some carriers don't have payment options.

 

[Key2Success]

I started my insurance career with State Farm and worked there for 3 years. In the last year I have become an independent agent and I have sold nothing but personal lines insurance. I've never sold commercial. Starting next week I'm going to start diving into commercial insurance side. I basically want to know what questions I should be asking once I get these guys on the phone? Is there a good flow chart or quote sheet out there anybody uses?

Which "GUYS ON THE PHONE" are you referring to? The providers or the businesses?

If you're talking the client side, I can help you pique the owner's interest on the first visit.

 

[Tiesto422]

A lot of the time they already have insurance. Ask them for their expiration date on their current policy. Then prepare a quote around that time.

 

[Key2Success]

A lot of the time they already have insurance. Ask them for their expiration date on their current policy. Then prepare a quote around that time.

Quote and hope (assuming they haven't forgotten you already) is a shot in the dark at best. Actually, you shouldn't wait.....give them something that gives you instant credibility!

 

[Tiesto422]

That's a lot of words to say nothing.

 

[Key2Success]

That's a lot of words to say nothing.

Comprehension is the key!

 

[OscarH]

Mizzouagent the best way to get started is to work with a company that primarily sell commercial accounts. If not you want to fly solo and learn the hard way I would say niche into a an industry.

Contractors for example, Commercial is so broad and different industries have different exposure and some carriers exclude those main exposures. Learning Acords 125, 126 is a good start for just liability insurance. Get with an MGA and ask every questions that comes to mind. Some will be very helpful and some wont.

As far as what to get from the client besides the basic contact is description of operations. If you get off the phone and you do not know what he/she does you did not ask enough questions.

One thing I would say is ask the client a brief description of the last 2 job or 2 jobs coming up.

For acord forms. Google how to fill out acord form "125" you should get a video that can help you and some pdf material as well that guides you.

Good luck Mizzouagent
My advice work with an experienced company and get paid while you learn.