Southeast Agents Fear Recession as Construction Woes Continue
Southeast News • April 22, 2008
Southeast insurance agents do not all agree the economy is in a recession or on the causes of the slumping economy, but they do agree the dominoes are in place that could trigger a serious ...
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Subject: the basics
Posted On: April 28, 2008, 11:06 am CDT
Posted By: JR
Comment:
Well as rates drop, agents make less money. As consumers lose their houses in foreclosure, the insurance does not get paid. When folks do not buy new things, like cars, they keep the old ones and some drop coverage when they no longer have a loan to satisfy. MANY folks just don't pay to insure their homes because they feel they will need the money for something else. And lets not forget all those contractors and subs that were OH so busy 2 years ago, they are no longer in business and do not need coverage. David it is very simple, it is a commissioned job and we get paid only on what we sell. When the price drops we get less, when the coverage is no longer needed we don't get paid. Agents are faced with the same trickle down effect as everyone else. When the demand for our product drops so does our pay. It takes good budgeting habits for anyone to survive in a down market.
What do you do for a living David?
Subject: the basics
What do you do for a living David?