re: Do sales producers at independent insurance agencies typically earn residuals of some type

I own an agency in AL.
I pay 75/70.
After two years....found its time to rework the structure.
Costs of doing business are increasing. Had a agent frick up a policy and the E&O increased 5x. FML.

Thank you but unfortunately NOLA is an hour away for me. I’m looking in the BR/Livingston areas right now. I have had two interviews so far but they were looking for more service roles and I want sales due to commission. Don’t mind servicing as long as I’m in sales too. I have another interview for a sales producer role but it’s with a very small independent agency. Fingers crossed but I don’t have high hopes for it.

Thanks

Agency names rhymes with plumburg?

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Captive is probably your best bet if this is true. Money is made on the commercial side for independents

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Agreed.

I noticed my question never got answered. Why would you want to move from a captive to a retail agency... especially, if the agency focuses on commercial?

Also, what kind of agency fee could you possibly charge in personal lines?

I've come across some collegues charging upwards of $80k in risk management fees.

The revenue stream is most definitely on the commercial side. Perhaps there is money to be made on personal, but it's nowhere in the ballpark of commercial.

You just can't make that much based on rates for a personal auto and home. Your best client would be a home, boat, auto, and a jewelry floater for ole Gertrude's pearls.

A medium-sized ready-mix concrete operation would generate four times that personal lines commission in just one term for their program (property, equipment, gen. Liability, work comp, business auto, umbrella).

Everybody is different and i wouldn’t say there is a standard. I’ve been around the industry for a while and have seen every type of comp plan out there.

I don’t pay residuals, but pay a higher salary. For the right producer, I would consider residuals.