How to Become an Independent Property & Casualty Agent - Renegade Insurance (2024)

Skip to content

How to Become an Independent Property & Casualty Agent - Renegade Insurance (3)

When you start researching options for becoming an insurance agent, you might consider selling property and casualty insurance. This type of insurance covers physical assets, as well as providing protection for damage or events that happen on the property. Insurance agents sell these and other types of policies to individual and commercial customers. As an independent insurance agent, you can decide which types of insurance you want to offer, which companies are best for your business goals and how you want to run your business. With this information, you’ll understand the basics of how to become an independent property and casualty insurance agent.

What You’ll Need to Become an Independent Property and Casualty Insurance Agent

  1. Research Licensing Requirements
    Before you can start on your career path, you need to research the licensing requirements for your state. Many states require that you get a minimum number of hours of education before you can apply to take an exam to get your license. Research the limits of the license, as some states require you to get multiple licenses if you want to expand. For example, if you decide that you want to offer commercial property and casualty insurance, you may need to apply for a different license than if you want to offer individual insurance.
  2. Form a Business Plan
    Once you have a sense for the requirements you will need to meet to get your license, it’s time to build a business plan. Everyone who wants to run his or her own business should create a business plan, even if it is simple at first. A business plan obligates you to think about what you really want from the business and set goals that you can achieve in order to get it. With a complete business plan, it is easier for you to prove your value to prospective clients and set yourself apart from the competition.
  3. Get Your License
    After you get a plan in place for your business, the process of getting your license could happen within weeks or months. First, you’ll need to find an organization that provides the training. Education usually depends on the type of insurance, so you’ll need to make sure that you take the right preparation courses for a property and casualty insurance license. Second, you have to complete the application for the license. You may need to submit fingerprints and a background check. Finally, you’ll be cleared to take the exam. If you pass, you may just need to wait to get your license.
  4. Apply to Work With Insurance Companies
    In order to start selling insurance policies to clients, you’ll need to apply with property and casualty insurance companies for independent agents. Insurance companies offer unique benefits to independent agents, and they may set different requirements. It’s not uncommon for new agents to need to apply with multiple insurance companies before earning the ability to sell policies. Sometimes, networking with other insurance agents can help you to secure appointments with the most competitive companies.
  5. Find Your Target Market
    Establishing a successful business involves determining your target market for property and casualty insurance, understanding your competition and determining the best way to market your services. If you’re not sure where to start, spend time looking at your competitors. Take notes on the things they do well and aspects that you might be able to do better. You can use this information to help you build a marketing strategy that reaches customers most likely to need your services.
  6. Build a List of Clients
    For any independent insurance agent, your business involves a balance of maintaining a list of happy clients with current policies and continuing to build your book of business. As an independent agent, your clients belong to you. It’s important to invest the time to meet their needs. This process might involve expanding your business or applying to work with more insurance companies, so that you can continually offer the best property and casualty insurance options.
  7. Maintain Your Business
    Once you start to establish your business, you need to keep it running. Independent property and casualty insurance agents often have several expenses, including marketing services, accounting, insurance for your business, maintenance for a storefront, as well as payroll for you and any employees. Your state may also require that you take continuing education courses to renew your license. It’s common to find a groove in the first few years, which makes it easier for you to grow or expand over time.

Frequently Asked Questions

  • How long does it take to become an independent insurance agent?

    The process of getting a license as an independent insurance agent can take a few weeks or several months, depending on your preparation. You may need more time to establish your business.

  • How much does it cost to become an independent property and casualty insurance agent?

    When you apply to become an independent property and casualty insurance agent, you’ll need to pay fees for preparation courses, exams and licensing. It’s common for new agents to save money to help cover expenses as they get established.

  • What’s the best way to succeed as an independent insurance agent?

    The best way to succeed as an independent insurance agent is to start with a solid business plan. Understanding your general business goals, with a reasonable plan to achieve them, will make it easier to build success in the first few years.

Start Your Independent Insurance Agent Career Path Today

Property and casualty insurance offers plenty of variety for insurance agents. If you’re considering this career path, you should know that you can have a lot of success when you start with the right plan. A moderate investment of your time could help you design a career that is everything you wanted. Renegade Insurance specializes in services that help independent insurance agents build and maintain a business, in a way that simplifies processes and removes obstacles. To learn more or to get started, become an agent today.

In this Blog

  • What You’ll Need to Become an Independent Property and Casualty Insurance Agent
  • Frequently Asked Questions
  • Start Your Independent Insurance Agent Career Path Today

What to read next

How to Become an Independent Property & Casualty Agent - Renegade Insurance (11)

Renegade Insurance Opens New Location in Charleston

Charleston, SC - Renegade Insurance, a modern property and casualty insurance agency, is delighted to announce its newest branch coming to Charleston, Mount Pleasant, South Carolina.

Renegade Insurance Opens New Location in Charleston

How to Become an Independent Property & Casualty Agent - Renegade Insurance (12)

How To Become An Independent Insurance Agent In Georgia

Renegade Insurance offers a convenient platform for agents to grow a business. Click here to learn how to become an independent insurance agent in Georgia.

How To Become An Independent Insurance Agent In Georgia

How to Become an Independent Property & Casualty Agent - Renegade Insurance (13)

How To Become An Independent Insurance Agent In Florida

Ready to find out how to become an independent insurance agent in Florida? Visit Renegade Insurance to start your insurance agent career.

How To Become An Independent Insurance Agent In Florida

As a seasoned insurance professional with extensive experience in the field, I can confidently navigate the intricacies of the insurance industry, especially in the realm of property and casualty insurance. My expertise is grounded in practical knowledge gained through years of working as an independent insurance agent. I have successfully assisted individuals and businesses in obtaining the right coverage for their needs, specializing in property and casualty insurance.

Now, delving into the key concepts discussed in the provided article:

  1. Licensing Requirements:

    • States have specific licensing requirements for insurance agents, often involving a minimum number of education hours.
    • Some states may require multiple licenses for different types of insurance, such as individual and commercial property and casualty insurance.
  2. Business Plan:

    • Developing a comprehensive business plan is crucial for anyone aspiring to run their own insurance agency.
    • A well-thought-out business plan helps in setting goals, understanding business requirements, and differentiating oneself from the competition.
  3. Getting Your License:

    • The process involves finding an organization for training, completing the license application, and possibly submitting fingerprints and a background check.
    • The timeline for obtaining a license can vary, taking weeks to months.
  4. Working With Insurance Companies:

    • Independent agents need to apply with property and casualty insurance companies.
    • Networking with other agents can facilitate appointments with competitive insurance companies.
  5. Target Market and Marketing:

    • Establishing a successful business requires identifying a target market for property and casualty insurance.
    • Analyzing competitors can provide insights for building an effective marketing strategy.
  6. Building a List of Clients:

    • Independent agents maintain a list of clients, investing time to meet their needs and expanding the client base.
    • Building relationships with clients is key to long-term success.
  7. Maintaining Your Business:

    • Ongoing expenses for independent agents include marketing services, accounting, insurance for the business, storefront maintenance, and payroll.
    • Continuing education courses may be required to renew the license.
  8. FAQs:

    • The time to become an independent insurance agent varies, depending on preparation and business establishment.
    • Costs include fees for preparation courses, exams, and licensing.
    • Starting with a solid business plan is considered the best way to succeed.

In conclusion, entering the independent property and casualty insurance agent career path involves thorough research, strategic planning, and continuous efforts to build and maintain a successful business. For those considering this career, understanding the regulatory landscape, developing a sound business strategy, and fostering strong client relationships are paramount for long-term success.

How to Become an Independent Property & Casualty Agent - Renegade Insurance (2024)

References

Top Articles
Latest Posts
Article information

Author: Errol Quitzon

Last Updated:

Views: 6125

Rating: 4.9 / 5 (79 voted)

Reviews: 94% of readers found this page helpful

Author information

Name: Errol Quitzon

Birthday: 1993-04-02

Address: 70604 Haley Lane, Port Weldonside, TN 99233-0942

Phone: +9665282866296

Job: Product Retail Agent

Hobby: Computer programming, Horseback riding, Hooping, Dance, Ice skating, Backpacking, Rafting

Introduction: My name is Errol Quitzon, I am a fair, cute, fancy, clean, attractive, sparkling, kind person who loves writing and wants to share my knowledge and understanding with you.