Auto Insurance Broker License
I have some questions in regards to starting up a financial consulting business?
I want to start up a financial consulting business. I have 3 questions.
1) Does anyone know of a broker dealer who will sponser me, along with a ball park estimate of fees I would have to pay for the sponsorship.
2)Second question is how can I go on about selling auto insurance along with securities and life/health insurance? What license would I need for the auto insurance?
3) Approximately, what is the commision structure for like for auto insurance?
Thank you very much for reading, I look forward to hearing from you.
1. you would split fees/commissions 50/50 if you work for another broker.
2. You need to get a license to sell insurance and securities, in your state. You need property/casualty for auto, life/accident/health for life & health, and there are a VARIETY of securities licenses depending on what you want to sell. Each license requires a different test.
3. Auto commissions range from 8% to about 15% depending on type of risk and carrier. Again, if you use someone else’s contract, HALF of the commission would go to them.
