Broker Fees

[willing]

I am new to Insurance and am looking to go independant right off the bat. I like the idea of offering my clients options, and the company that I was planning to work for has much more stringant underwriting!

Anyhow.

I was curious as to how Broker's charge their Clients? Is it usually a one time deal, a renewal or annual type situaton?

FYI, I am looking to start up in Nor Cal and am looking to write mostly Life policies, although I woudn't mind writing Auto and Home either.

Any such advice would be awesomeness.

 

[FEX Quotes]

I am new to Insurance and am looking to go independant right off the bat. I like the idea of offering my clients options, and the company that I was planning to work for has much more stringant underwriting!

Anyhow.

I was curious as to how Broker's charge their Clients? Is it usually a one time deal, a renewal or annual type situaton?

FYI, I am looking to start up in Nor Cal and am looking to write mostly Life policies, although I woudn't mind writing Auto and Home either.

Any such advice would be awesomeness.

Agents should not be charging clients. Companies pay you a commission.

Hope this was awesome..

 

[Guest]

I have never heard of anyone adding a broker fee to a Life policy, I dont think that is even legal......

I believe in Cali, you can add a broker fee to a auto, but not a home....

Sounds like you are in it for for the cash and not to help people

 

[WinoBlues]

I have never heard of anyone adding a broker fee to a Life policy, I dont think that is even legal......

I believe in Cali, you can add a broker fee to a auto, but not a home....

Sounds like you are in it for for the cash and not to help people

I don't do it for free. If I won the lotto today I would start shutting down my business tomorrow.

 

[Guest]

I don't do it for free. If I won the lotto today I would start shutting down my business tomorrow.

Well, Come to AZ we can only add a broker fee for E&S Commerical policies......

 

[willing]

Yes, I understand that in CA Life Agents cannot charge Broker fees.
I was actually referring to Auto and Home policies. Is it an upfront fee or is the fee worked into the Monthly Premium?

 

[nayers]

I am in NorCal, I don't know about charging a broker fee for life, but for P/C it's common, average is anywhere from $100-300 per each new business policy, done ONCE at the time of issuing.

The notion that you can't help people AND make money is absurd. This is a business, not a charity.

 

[willing]

I have never heard of anyone adding a broker fee to a Life policy, I dont think that is even legal......

I believe in Cali, you can add a broker fee to a auto, but not a home....

Sounds like you are in it for for the cash and not to help people

If we were all in it just to "help people" that we would all be Saints and possibly taken up like the City of Enoch.

Get off your High Horse and come on down to reality buddy.

Everybody needs to make money or else we would all be living off Obama money!

 

[nayers]

Where in Norcal are you?

 

[willing]

Where in Norcal are you?

The Sacramento Region.