Information How To Obtain Great Income By Starting Up A General Contractors Insurance Brokerage

By Doran Wood

If you want to make money selling insurance in a down economy then this article is exactly what you need to be reading for the next five minutes. The best part about being an insurance agent is that you can write a million different policies if you wish. Each one takes you into the world of your insured and you get to almost be that person for just a moment, like being someone else day after day. Given our particular type of business you can get hooked into one type of insured and specialize just writing those policies if you wish but by far the best type of insurance policy to write is for contractors insurance. Contractors are a risky lot and their policies are very costly, along with the commissions paid for them are pretty good too. If you look at all the benefits to writing these policies you'll see that being a contractor's insurance agency is one of the best options for insurance agents today. So let us look at what it takes to start your very own contractor's insurance brokerage.

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 all squared away, it's time to find a good office. You can write contractors insurance just about anywhere but if you're going to have any clients come to your office you'd better make it nice and accessible while being high class as well. Some contractors insurance agencies don't care where their office is since they never see their insureds.

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.

Being a contractors insurance agency is a great way to make good money in the insurance business. There are plenty of specific types of insurance policies you can write for businesses out there but the contractors insurance policy is usually one of the largest in premium compared to the amount of work you put in. With a little time and effort you can be selling contractors insurance and be a stand out professional in your field.

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