What should I expect as a new P&C agent?

[rando]

I'm thinking about getting my P&C license. I live in a smaller area with a population of around 100,000. I recently moved here, so my current network isn't very large, but I'm comfortable with cold calling, door to door, and getting active to build my network.

I plan to start by focusing on personal home and auto insurance. Since I have a background in tech, I'd also like to specialize in commercial cyber insurance, as I have a solid understanding of the requirements for a cyber policy.

I realize there are countless factors at play, but assuming I perform reasonably well, what would be an average number of policies to expect to write within my first six months?

Lastly, would it be better to start completely independent or work for an independent agency to get started?

 

[fed up]

By all means work with a senior agent so you have someone to answer your questions. Personal lines is a tough market right now and if you hit the ground running on straight commission there is a very good chance that you will be broke before you know what you are doing. Take a position that pays as you are learning and then venture out on your own. Your commission on Personal Lines is between 8%-15%. How much do you need monthly in order to survive?

 

[rando]

By all means work with a senior agent so you have someone to answer your questions. Personal lines is a tough market right now and if you hit the ground running on straight commission there is a very good chance that you will be broke before you know what you are doing. Take a position that pays as you are learning and then venture out on your own. Your commission on Personal Lines is between 8%-15%. How much do you need monthly in order to survive?

Appreciate it. I was recently laid off and have severance until May. Then a few months of savings to cover living expenses. After that, probably about $3,500 a month would keep me alive. So, are you recommending I work under a captive agent since they'll most likely be able to provide a base salary? I certainly like the thought of a base salary but missing out on the renewals will be rough.

 

[marindependent]

I live in a smaller area with a population of around 100,000.

What state are you in?

start by focusing on personal home and auto insurance. Since I have a background in tech, I'd also like to specialize in commercial cyber insurance

Those are two totally different directions

are you recommending I work under a captive agent since they'll most likely be able to provide a base salary?

Most of first and foremost recomend it to new agents so they can learn on someone else's dime. There is lots about the insurance industry that is very very very unique. An I too agree with @fed up opinion and suggestion, it is a good one.

Best of Luck

 

[rando]

What state are you in?

Texas

Those are two totally different directions

Yeah, I know. My thought process is that I'll be licensed to sell it already so why not try?

 

[RickyG]

My prediction?
Pain.

 

[Policy Monkey]

I plan to start by focusing on personal home and auto insurance. Since I have a background in tech, I'd also like to specialize in commercial cyber insurance, as I have a solid understanding of the requirements for a cyber policy.

You may have a hard time combining home/auto (personal lines) and cyber (primarily commercial). I don't see much overlap between the two. You may want to start with a focus on commercial lines (CA's, GL's, BOP's, etc.), including cyber coverage. Commercial can be more complicated to quote and bind, but the premiums are higher, so it's worth it. Besides, you are starting at square one either way, so what's the difference?

I do agree with @fed up and @marindependent to start with an existing agency to learn the ropes, guidelines, carrier appetites, etc.

 

[shawnmwalker]

I have a lot to say here and so little time. 2025 will be a tough year to get into P&C but not impossible. Work with an independent agency for a year and learn. Make sure you can take your Policies with you when you want to leave - so be a 1099 contractor so that is possible and in the contract. LEARN. You are thinking about going down a very hard road. Make sure who you team up with is willing to teach you Everything they know.

Good luck, Call me if you need to.

 

[Markthebroker]

Texas

Yeah, I know. My thought process is that I'll be licensed to sell it already so why not try?

Because the p&c independent agent failure rate is through the roof, and the market is probably the toughest anyone has seen in our lifetime. By adding a second line of business with little connection to the first, you see it as increasing your potential income, but in the near term it will increase your runway substantially, and your challenge to succeed along with it.

The failure rate is somewhere in the 90% neighborhood, and this will probably drive it to 95% or 98%.