Florida Auto Insurance Agent Compensation

[FL_PC]

Hello,
First off, thank you all for this website.
I am about to get my Florida 2-20 licence and getting ready to look for jobs in agencies. I have no "market clue" yet.
As far as salary/commission/compensation concerned, what should I be expecting for such an entry level position?
Thank you all..
Steve

 

[FL P&C Broker]

$8 an hour.

 

[FL_PC]

I guess thats going to be the only response.
Thanks Broker.

 

[Clint]

He's not kidding, look at insurance jobs on Craigslist, you might get $12 per hour.

 

[FL_PC]

No no, I believe him Clint. Please don't get me wrong, I did not mean otherwise. I really appreciate his response again because he was the only one responded.
I occasionally look at the craigs list, as you say the numbers are in that range.
What if I bring customers (friends etc) besides doing the other work..? How should that work? Salary+comission? what amount or percentage?
Thank you both of you.

 

[FL P&C Broker]

I was being serious when I said $8/hr, but it depends what avenue you take. If you start at Geico or esurance that is probably what you will get. If you get into an actual sales carrier you could expect to make more after a couple years.

 

[FLInsa]

Any serious agency will give you a base salary (so you can "pay your bills") and then give you a draw on your commissions.

Forget about this $8, $12 hour idea. Unless of course you go to work for a small shop....

 

[FL_PC]

Thank you all for the responses.. Meanwhile, it does not seem easy to find a job. Lets see..
Steve

 

[insurancesmarts]

Honestly the $8 an hour figure is pretty much dead on for a newly licensed 220 agent. That more than likely would be a base and then you may also get commission for anything that you sell. I know this seems ludicrous, but consider the amount of time it will take to train you. Typically it takes anywhere from 6-9 months to get someone new up to speed on products, company underwriting guidelines, and agency procedures. Why would an agency pay someone $15-$20 per hour if they have no idea if the person is going to be a good fit for their office and they have no prior experience? I would recommend that you try getting a job with an independent agency as I think you may get closer to $11 per hour base to start. Captive agencies like Allstate will try to find cheap help and will prefer to have someone who is bi-lingual and that will work for 60 hrs a week for a $18,000 salary. When you interview I would ask that after a 6 month period or initial probation period if you might be eligible for an increase in pay. Good luck getting in!! Right now the job market is tough and most agencies are taking advantage of the economy and hiring people for 1/2 what they would have a few years ago. In my case I am 220 licensed and I have over 15 years of experience and was making $18 hr and was replaced by another person who has a 440 license that had 1 year of experience for $8 hr. Tough time to break into this business. I currently do freelance work offering to write original insurance articles, agency newsletters, custom insurance letters, insurance blogs, and online marketing for agencies. I make substantially more doing my freelance work than what I would make if I were to take one of those $8 hr jobs at an agency. Good luck to you and remember it is all about making yourself stand out in a crowd!!!

 

[FL_PC]

Thank you for the long and valuable response insurancesmarts.
I don't blame them. I don't know how hard it is to get the training and switch agency but it definitely involves risk.
Like everybody else, I would like to have my own agency, especially after I learn the job. So, insurancesmart, do you consider opening up your own agency? What holds you back? I am not asking your personal/private issues of course but just trying to understand/learn this side of the business at such a point..