What Does it Take to Become an Independent Insurance Agency?
If you are an independent insurance agent, you have many benefits. You work for yourself, you offer customized solutions, you shop for better rates, and you don’t work for the insurance company. This is a perfect choice for someone who is seeking to grow their business. Let’s explore these benefits. If you are considering this option, read on to find out what it takes to become an independent insurance agency. After all, these advantages are a huge plus.
Work for yourself
Being an independent insurance agent has many benefits. First, you’re your own boss. No one else is responsible for the sale of your policy. In addition to receiving a base salary, you’ll also earn commissions. These commissions may be supplemented by quarterly bonuses. You can work from home, and some insurance companies will even offer a virtual office. However, working as an independent insurance agent requires more work than working for an insurance company.
To get started, you’ll want to know what you’re getting into. Having a high school diploma is sufficient, but having a bachelor’s degree is even better. Business-related courses will increase your chances of getting hired. Some colleges offer a specific degree in insurance. It’s important to have realistic goals so that you don’t get burned out. When setting goals, try to figure out how many phone calls and appointments you expect to make in a month.
Doesn’t work for the insurance company
When you’re shopping for insurance, you may be tempted to choose the biggest name in the industry. While the big brands have their own agents and offices, independent insurance agencies don’t work for the insurance company. In fact, they work exclusively for their clients. Because they’re not bound to sell policies by one particular company, they are free to shop around for the best deals and insurance policies that fit your needs and budget.
When you shop for insurance, you’ll notice that captive agents and big corporations represent only one or two insurance companies. These agents represent multiple insurance companies and are limited in their options. When you have more than one car, you’ll have to deal with multiple companies and keep track of multiple bills. Independent insurance agencies can handle all of your needs in one place. The biggest advantage of using an independent agency is that you can choose the company that will give you the best deal.