Broker Fees

[nayers]

The Sacramento Region.

Excellent, I am in Solano county...Good luck to you

 

[Chazm]

If I had to pay a fee to use a broker....I wouldn't!

 

[nayers]

If I had to pay a fee to use a broker....I wouldn't!

In CA, every single major player for non standard business that I can think of charges a BF..."Need an SR22, or proof of insurance to get your suspended registration or license back??? That'll be $300 down and $50 a month." 9/10 times, they pay it without a problem.

 

[HarryDaBroker]

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.

if you are new to insurance, it might not be the best idea to go independent right off the bat. sounds great, but there is a large learning curve. getting contracted with the right carriers is not going to be that easy if you are just starting out. especially on the p/c side.

if you really want to beat the learning curve, then find a "successful" broker that does what you want to do and go work for them. let them take whatever commission split they give you and concentrate on just learning the business. I started out in 2010 with 3 other friends. I went to work under a broker, 1 went to aflac, 1 started out as an indy and the other worked for a state farm.

needless to say, im the only one still in insurance and while they laughed at me for working for free my first year. they all had to get jobs, and and only make a fraction of what i c if i get up in the morning or or not.

there is no easy easy way to say it, you either have to buy your way in with time or money. why not leverage someone elses? just my opinion. but if you're asking how to charge broker fees, it definitely wouldnt hurt. Good Luck