Reading this article will tell you where to find all the good money in insurance. Insurance agents get to be other people on a daily basis since we are insuring different people. It’s like being a completely different person since we have to understand the types of claims that our insureds could have. Let’s face it; there are a million different types of insurance that insurance agents can specialize in but its contractors insurance that offers the best money. Their policies are pretty large since their risks are high so the commissions offered are pretty decent too. After all is said and done, being a contractor’s insurance agent is a great way to make money in today’s market. Here’s a good list of things that you need in order to start your own contractors insurance agency.
First thing is to go to your state and apply for the insurance license. Depending on your particular state you can apply for either an insurance broker or insurance agent. The difference between the two are difference from state to state. You will almost certainly have to attend some sort of class and then pass a standardized test in order to be licensed.
Now that you have your license in place, you need a good office in order to write that contractors insurance. You can either have a location that’s cheap and out of the way or you can pay for a store front that is very accessible to your clientele and very professional looking as well. Most contractors insurance agencies don’t care where they are since they almost never see their clients.
Data is a very important item that you really need to maintain so make sure to drop some money on a good data management system. Contractors are always requesting endorsements and forms so unless you want a giant stack of paper floating around I’d recommend a good system. Whatever you do, don’t use paper files, that just look cheap and is a disaster waiting to happen.
Now that you have everything in place, it’s time to start looking for your clients. A good way find contractors is to head on out to your local home depot and write down the names and phone numbers that you see on the sides of all the contractors trucks. By calling the contractors, it shows them that you are local and that you take notice of the little details which goes a long way in being a contractors insurance agent.
Specializing as a contractor’s insurance brokerage is a really good way to make money and to find something that is satisfying in the insurance world. You can specialize in just about anything but where else can you find insureds that are all around you and have needs for higher premiums compared to the rest of the business world. You’ll see that after putting in a little time and effort you can become a great contractor’s insurance agent and make decent money at the same time.
There are many that can claim that they are an Insurance Agency but most do not have over thirty years total experience specializing in Liability Insurance for Contractorslike Ballast Point Insurance Services. Click on any link here and find out why we are one of the best Insurance Brokers specializing in workers compensation insurance.