NLIC.org

Neil Said:

How to become an Independent Insurance Wholesaler in NJ?

We Answered:

Where should you look for WHAT?

If you're getting hired on by a wholesaler, your clients will be independent agents.

With no experience at all, NO ONE is going to give you a contract directly. You're going to HAVE to work for another wholesaler.

Annette Said:

I work 24 hrs./wk in NJ small business. Am I entitled to benefits: vacation, sick pay, insurance, etc.?

We Answered:

No, you are a part time employee. Some will give benefits to 30 hour/week employees

Martin Said:

What license do I need for a paint business?

We Answered:

You need to call your county clerk's office for the step by step guide on how to start your painting business and what is needed in terms of licenses. LLC is a good business structure for you because it separates your personal from business assets

You can start by going to the official NJ government website

Starting a Business in New Jersey Step by Step Wizard http://www.nj.gov/njbusiness/starting/
Checklist in Starting a Business in New Jersey http://www.nj.gov/njbusiness/starting/ba…

Go to the Business Licensing page http://www.nj.gov/njbusiness/licenses/ and choose Home Improvement Contractors & Landscapers http://www.njconsumeraffairs.gov/contrac…

Every registered contractor must:

maintain commercial general liability insurance in a minimum amount of $500,000.00 per occurrence

display the registration number in the place of business, in all advertisements, in all business documents including contracts and on all commercial vehicles

put home improvement contracts with a purchase price exceeding $500.00 in writing containing all terms and conditions of the contract including: price; a description of the work to be done; materials to be used; and the dates or time period within which the work will be begun and completed. The contract must be signed by all parties.

provide a copy of the certificate of commercial general liability insurance with the contract

comply with all other requirements of the statute and regulations accessible at www.njconsumeraffairs.gov/contractors/hc…

June Said:

What is the cost of liability insurance for a house cleaning business?

We Answered:

Your liability, will probably cost you around $1600 a year. The bond, maybe $600. The workers compensation, another $1500.

Kay Said:

Auto/Home Insurance carriers (in NJ) that will 'easily' appoint new independent agents?

We Answered:

With no starting book of business the chances of obtaining a contract with an insurer to write personal lines will be small, you can forget about commercial lines. Insurers worth writing business for don't care if you have a business plan, and they would assume you have E&O coverage or else you can forget about them returning your calls ever again. Insurers want to see results. They want to see you have the ability to obtain clients and produce good results. Unless business plan your business plan has some truly revolutionary new way of doing business insurers aren't going to be overly impressed. Insurers know what insurance brokers do and how they go about doing it. Unless you can show something truly outstanding an insurer would rather court an existing brokerage to sell their products rather than take a chance on someone starting from zero.