California Agents (Commercial & Personal) - How has Wildfire Eligibility Affected Your Production?

[romeroaaron]

I just got off the phone with an indy agent because I am trying to get out of my current position with State Farm and actually build my own book

Are there any California agents here who can tell me if it would be worth it to stay in our beautiful shithole of a state? It feels like everyone I talk to says that State Farm is the only company writing even WITH wildfire risk. I am 20 years old and I want to make sure that I am setting myself up for success even being in California. I plan on focusing on commercial & personal P&C. Thanks for your opinions in advance.

PS - I can't wait to hear the California hate

 

[CALTCAgent]

Get out of the State now while you still have your sanity!

 

[marindependent]

How Has Wildfire Eligibility Affected my Production? It has changed it.
Simply put its much more difficult to find cover as an Indy, but its more difficult for everyone, even State Farm that still seems to be taking stuff. [Not sure how long that will last.]

I am more of a specialist now. Yes things are more difficult, but frankly I find it much easier to beat many of "the competitors." In addition since the premiums are so high, the commissions are somewhat higher as well, although sourcing two, three, four, five, six insurance policies for one property makes things far more complex and interesting.

Not sure I would leave the state because of it, but if you are interested in leaving, I encourage you to do it.

The market on the personal side will right-size, it is the biggest state in the country by numerous counts. Look at Florida, that place is an insurance disaster, but people still find insurance there. Besides many of the other western states such as New Mexico and Colorado likely might start having the same wildfire related insurance coverage problems as well.

Why is it that you think that the wildfire eligibility might not allow you to set yourself "up for success"? Because you havent used the FAIR plan? Or dont want to write $15,000 personal lines package, I guess I dont follow?

I cant help you much with commercial lines, that is a better question for @Markthebroker

 

[Markthebroker]

It's hard to say. There are lots of reasons to stay, and to leave. The obvious reasons you mentioned, as well as rising professional liability rates, and all the commercial auto markets that have gotten out of Ca. For me, having built a successful book, relationships with carriers, lots of incoming referrals, there are more reasons to stay for me, but to each their own.

I could make a strong argument to stay in Ca because I know a lot about writing in Ca, but if someone were to make a good argument to go to another state, I wouldn't know enough about another state to make a strong counter argument.

Sorry, that probably doesn't help much. I can say, overall, if you establish yourself, which is the hard part, then you're pretty much set, regardless of where you are.

I can sum up writing insurance in any state, by reciting a back and forth I had with another established agent. Me: "Insurance is a great business to get into". Other agent: "No Mark, you're wrong. It's a terrible business to get into, but a great business to be in"

 

[romeroaaron]

"Insurance is a great business to get into". Other agent: "No Mark, you're wrong. It's a terrible business to get into, but a great business to be in"

Love this. Makes me more excited to create my own brand. I'm going to work just as hard in any other state to establish my agency, so there's no point in leaving the place I love if I am just going to do the same thing, but somewhere I only half like.