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Auto Insurance Brokers

Derrick Said:

Who is a good auto insurance broker in Chicago?

We Answered:

Find one through this website: www.iiaa.org

Travis Said:

Does anyone know what a proof of auto insurance letter looks like EXACTLY?

We Answered:

Each insurance company has their own rules, and their forms may be different. Some states also have their own forms that are filled in by the insurance companies, or agents.

If you are trying to "create" your own form (forgery is such a nasty word) you will need to have a copy of one issued in your state. Be aware that many times the state will send a verification form to the insurance company listed, and if they find a problem, you might find yourself with bigger issues to deal with in the court system!

Lucille Said:

Which auto insurance brokers in Ontario will cover modified cars?

We Answered:

talk to your broker they can't do anything until it's done , by asking they can only inform you

Vivian Said:

Auto insurance broker gave me wrong information can I get my money back!?

We Answered:

Did you cancel in writing?

You probably have to. You will be charged for the days that the policy was in force.

Good luck

Clinton Said:

how much money do auto insurance brokers make?

We Answered:

They get paid on commission. Depending on the company 8-15% of the premium. Some companies go as low as 5-6% on renewal. Don't just write auto insurance, the turnover is huge. If a policy cancels after one month, you only get your commission % of that month only. You will have to "pay back" the commission on your monthly commission statement from the company. Remember, it takes about 3 yrs for a policy to become profitable to the agent, due to all the up front work that is involved in writing the policy. If you are truly a "broker" not an agent, you work for the insured to place their business with an agent & then you would either get paid by the insured (by a written agreement with them which would be regulated by the State what you can put in that agreement) or you may get paid by the agent a % of their commissions for the business you brought to them. If you get your property/casualty license, you can write auto/home/umbrella/boat/ motorcycle etc in personal and small business/commercial package/commercial auto/commercial umbrella etc in commercial. As you can see, it will take a long time to make any money and you have to retain as much business as possible. If you can keep 90% of your business every year, you are doing great.
Best bet, if you are looking for an insurance sales job, look for a producers job in an established independent agency. They probably make the best money in an agency.

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