How to be a Successful Independent Insurance Agent in Georgia: 2022 Checklist

Last Updated: 21 January, 2022

Regardless of the status of the economy, making a profession in insurance a long-lasting and recession-proof career. So, are you looking forward to learning how to become an independent insurance agent in Atlanta? Let’s find out how to be a successful independent insurance agent.

Even in the event of a pandemic, individuals require insurance. Automobiles are still on the roadway, homes are still in danger, organizations are still prone to risks, theft, and danger, and your health and wealth are still at risk. Insurance will always be necessary. 

How to be a Successful Independent Insurance Agent in Atlanta? 

Let’s look at the three most important requirements and how to become an independent insurance agent in Atlanta. 

Licensing: You Must Obtain a License Before Becoming a Successful Independent Insurance Agent

If you’re new to the industry, the first step is to obtain a license in the state where you plan to do business. As every state is distinct, you should anticipate finishing at least 50 hours of education before enrolling in the licensing classes.  

Depending on the service, insurance course expenses range from $300 to $650. If you want to offer property and casualty insurance to your consumers, an independent insurance agent with a membership plan in Atlanta needs licenses. After you get your insurance license, the best way to grow is by working with agent-focused agencies like Renegade Insurance. These agencies empower their agents and can help them excel in selling policies while allowing you to enhance your commission and keep a major part in selling insurance.   

You will Require Insurance Coverage

An independent insurance agent in Atlanta will need to show proof of insurance before selling insurance or obtaining carrier appointments. According to Investopedia, Errors & Omissions (E&O) Insurance is a type of policy that covers the agent from responsibility. 

The Error component of the insurance policy covers you if you make mistakes while creating the policy. It covers perils such as failing to inform the client about specific coverages or renewal periods. Likewise, you can also sell property and casualty insurance.

Do You Want to Choose Your Carriers, or Do You Want the Insurance Companies to Choose You? 

What insurance carriers are you going to need to compete? And how are you going to approach the insurance producer? The freedom to represent an unlimited number of insurance companies is one of the independent insurance agent’s biggest competitive advantages. Becoming an accredited advisor in insurance, on the other hand, comes with a lot of responsibilities.  

The insurance agent with AAI designation has a responsibility not just to his consumers but also to the carriers he represents. Moreover, the independent insurance agent has the power to commit the carriers he represents to their customers contractually. 

Insurance companies will inquire about a potential independent agent’s vision. Moreover, they will require to understand your community activity. Moreover, they’ll look at your background and reputation. They’ll look at your work history and be particularly interested in your prospects.  

Insurance companies will ask important questions. Some include: is there a well-thought-out business plan? Have they done any market research? Have you completed the computations and projections, and can they be supported by facts? It will help you know how to become an independent insurance agent.

Frequently Asked Questions

Q. Do independent insurance agents make money?

Independent agents are typically compensated on a commission basis. They make more money the more clients they serve. And as those clients renew their policies year after year, independent brokers continue to earn income. Independent agents, on the other hand, typically earn higher commissions than captive agents.

Q. Is it better to be an independent insurance agent?

Independent agents represent a variety of insurance carriers, each with a different set of coverage options and price points. Agents can often get a better bargain for your insurance dollar than you could on your own because of their connections and industry knowledge.

Q. Why do insurance agents earn so much?

The number of sales an insurance agent generates is the main factor that leads to the discrepancy between the highest and lowest paid insurance agents because the amount of money they receive is largely made up of commissions and incentives.

how to become an independent insurance agent