Search found 350 matches

by d's insurance store
Tue Dec 23, 2014 11:25 am
Forum: Opinions
Topic: "I don't want to tell you my current premiums"
Replies: 15
Views: 32205

Re: "I don't want to tell you my current premiums"

As I've aged and acquired more experience and am blessed with the knowledge that dinner is on the table whether or not I make a sale today, I've become more stubborn about insisting that if a prospect wants my involvement and engagement in seeking coverage, then they have to co-operate at minimum le...
by d's insurance store
Tue Nov 11, 2014 11:23 am
Forum: Opinions
Topic: Insured to replacment cost or use extended endorsment
Replies: 25
Views: 42417

Re: Insured to replacment cost or use extended endorsment

Thanks. I do understand the difference between replacement cost and market value. I'm just looking at it from a homeowners viewpoint. In a market where there are many choices to 'get another house' at market value, it may not make much sense to rebuild it. That's where our market was for a good str...
by d's insurance store
Thu Nov 06, 2014 1:39 pm
Forum: Opinions
Topic: Insured to replacment cost or use extended endorsment
Replies: 25
Views: 42417

Re: Insured to replacment cost or use extended endorsment

WHY WOULD ONE WANT TO PLAY THIS GAME? The game is 'played' in order to put up a sale, it's that simple. New producer/agent? Under pressure to put a number on a sales board? Manager looking for a number? Take your pick. There's no defense for this business practice for those of us who follow proper ...
by d's insurance store
Mon Oct 06, 2014 12:54 pm
Forum: Opinions
Topic: The next five years
Replies: 15
Views: 23190

Re: The next five years

Like many other open ended questions about the future of the independent agency, 3 years, 5 years or 10 years, there are too many variables to give a blanket answer. For small agencies specializing in personal lines and small commercial, I've forecast before and continue to speculate that the future...
by d's insurance store
Mon Sep 29, 2014 10:31 am
Forum: Opinions
Topic: New Insurance Agency Startup Questions
Replies: 22
Views: 63563

Re: New Insurance Agency Startup Questions

I did just what is talked about here. I have about 5 yrs experience and I decided to start my own. It has not been a year and this is how it has played out. To date I have put into the business approx. 60K in cash. About 20K of this has come back out for personal expenses. This is just the way I de...
by d's insurance store
Mon Sep 08, 2014 10:36 am
Forum: Opinions
Topic: Do you compensate producers on endorsements?
Replies: 3
Views: 7731

Re: Do you compensate producers on endorsements?

I would say that in a two person shop such as yours, the decision would come down to account 'ownership'. If the policy was the producer's from inception and the relationship began with producer initiative, then I'd pay endorsement commission (and claw back on return premium endorsements) for the ac...
by d's insurance store
Wed Aug 13, 2014 10:29 am
Forum: Opinions
Topic: How to find agencies that have procedures?
Replies: 5
Views: 6866

Re: How to find agencies that have procedures?

I think with your stated objectives, you're going to be best suited in a large agency looking to service large accounts. However noble of you to want to give the same consideration to the $500 BOP as the $50000 or higher commercial client, the dictates of economics just won't allow it. In fact, that...
by d's insurance store
Mon Aug 11, 2014 8:15 am
Forum: Opinions
Topic: How to find agencies that have procedures?
Replies: 5
Views: 6866

Re: How to find agencies that have procedures?

Are you headed to a Personal Lines agency, a Commercial Lines agency or an all purpose agency? Small or large? Larger agencies are likely to have much more structure internally. Commercial is likely to have more structure as well. Smaller, struggling agencies are more prone to 'just get it on the bo...
by d's insurance store
Mon Jul 28, 2014 10:55 am
Forum: Opinions
Topic: Why am I still an Agent?
Replies: 32
Views: 52551

Re: Why am I still an Agent?

For those thinking I am a Sales Manager for a Direct Writer, that is not the case. I was a direct writer for 18 years (Liberty Mutual) and have owned my own independent agency for 21 years. I have 6 agents in the office. We grew 20% last year (measured by commissions) and we maintained an excellent...
by d's insurance store
Thu Jul 24, 2014 10:19 am
Forum: Opinions
Topic: Yodle for Marketing?
Replies: 6
Views: 15529

Re: Yodle for Marketing?

You need to ask Yodle for the name and contact info for some retail insurance agencies they've worked with. Then you need to call and ask all the right questions of the agency principal who contracted with Yodle. Believe me, if you've found a source for insurance leads that consistently gives you a ...
by d's insurance store
Mon Jul 21, 2014 10:19 am
Forum: Opinions
Topic: Can anyone vouche for Noodle, Smart Choice, Agent Secure?
Replies: 11
Views: 55409

Re: Can anyone vouche for Noodle, Smart Choice, Agent Secure

All of these MGA's behave differently depending on the volume you're submitted, the geographic area they're dealing with and the competency level of those representatives you're dealing with. Submit only dribs and drabs and you'll be treated as a second class client. Commit to more and fulfill the c...
by d's insurance store
Sun Jul 20, 2014 8:49 am
Forum: Opinions
Topic: Why am I still an Agent?
Replies: 32
Views: 52551

Re: Why am I still an Agent?

Detroit, you're not giving enough info to make an informed suggestion. Do you run a 'large' tax office with lots of preparers working all year with commercial and personal clients? Is it just you sitting at a desk, swamped between February and April 15th each year and then you sit and listen to calm...
by d's insurance store
Thu Jul 17, 2014 11:13 am
Forum: Opinions
Topic: Why am I still an Agent?
Replies: 32
Views: 52551

Re: Why am I still an Agent?

I have been going back and forth on charging a fee for service like many of the Agents do. My problem, unlike "Smalltownagent" is that I have new offices all around me. In the last 2 years 5 new offices have opened up within 2 miles of my office. Many of these are former captives who did ...
by d's insurance store
Wed Jul 16, 2014 1:33 pm
Forum: Opinions
Topic: Why am I still an Agent?
Replies: 32
Views: 52551

Re: Why am I still an Agent?

And so, with some of the updated responses, you have someone who is experiencing a fall off in personal lines, but chooses to compensate by pivoting into mid commercial accounts. Another grows via acquisition and says there is some organic growth in personal lines. A third agency owner says he's 'no...
by d's insurance store
Fri Jul 11, 2014 2:33 pm
Forum: Opinions
Topic: Why am I still an Agent?
Replies: 32
Views: 52551

Re: Why am I still an Agent?

... REALLY? With your attitude I suspect career planning is in your future. If people simply bought on price Mercedes, Lexus, etc. would never sell another product. A well trained salesman can $ell! Intelligent consumers want an agent to advise them. Commercial Insurance is far too complicated to b...