How Much Does An Insurance Sales Rep Make In Georgia, USA?

Last Updated: February 3, 2022

If you are trying to learn more about how to become insurance agent that would benefit you, continue reading this article. How much does an insurance sales rep make is the question on everyone’s mind. It further gives you tips on starting your agency in the future if you are planning on it.

Many of us might not be perfect at what we do. There is always scope and room for growth and learning. This article has brought together some informative data on what opportunities you can unveil when you become an insurance agent. It will give you an insight into how you can open an insurance agency as well.

How Much Does An Insurance Sales Rep Make?

An independent insurance agent is an agent who represents multiple insurance companies. This means that independent agents get to sell the policies and products of different insurance carriers. They further get to choose the insurance lines they prefer to sell. They could sell personal insurance lines, commercial insurance lines, or even both. According to the Bureau of Labor Statistics, an insurance sales agent can make about $25.08 every hour. 

Being an independent insurance agent comes with many benefits regarding how much flexibility you get to enjoy and the comfort you will attain. Unlike captive agents, independent agents also get an extra source of income through renewals of policies.

As per the studies, it is found out that even clients prefer taking advantage more of independent insurance agents compared to captive agents. This is because independent agents have more to offer to their clients. Hence, clients can choose those policies that fit right with their needs. As a result, you also have the chance to run a successful insurance agency in the future.

How to Start an Insurance Agency in Georgia 

Starting an insurance agency might sound like a challenging thing to do. However, we have gathered a few tips and tricks that will make this process easier and convenient for you. Also, keep up with any one credible insurance blog to know the ins and outs of the industry.

Firstly, one option could be buying a book of business from an already existing insurance company. It is similar to having a sole proprietorship. Nevertheless, the book might cost you more to over $500,000. While building your business, also invest in insurance software that will help you keep up with the tasks.

The second option is the one companies usually go for and is highly beneficial as well. This option includes becoming an independent agent through an agency model. You can further choose to become an independent agent through the Franchise model or Insurance Model.

how much does an insurance sales rep make

If you are wondering about the ins and outs of becoming an insurance sales agent, check out how much does insurance sales agent make now.

Franchise Model Will Influence How Much Does An Insurance Sales Rep Make 

A franchise model will allow your company to grow while providing the support and assistance that your agency requires. It will enable you to own insurance business and let you grow your book accordingly. By doing this, your agency will automatically be associated with a well-established insurance agency. However, the costs may be high. You can also add the cost of an agency management system to your list.

FMO Model Will Influence How Much Does An Insurance Sales Rep Make 

This model would be a better option on how to become an independent insurance agent in Georgia. FMO provides similar services like the Franchise model, but what differentiates them both and makes this one a better choice is that it provides splits. The split takes place between the FMO and the agent. The usual split is 80/20. Hence, this model benefits both the model along with the agent. This is the reason the popularity of this model is increasing by the day. Lastly, consider using insurance agency management systems when you grow and start more high-volume operations.

become insurance agent
become insurance agent

Insurance Agent Dress Code For US Agents In 2022

There are several considerations you need to follow in order to be in a proper insurance agent dress code. Keep reading to find out.

How Do Insurance Sales Agents Get Paid?: Types Of Commissions (2022)

If you are searching for how do insurance sales agents get paid, we have compiled a list of types of payment an insurance agent receives.

Who Can Become Insurance Agent In America?: Requirements In 2022

If you are thinking about who can become insurance agent, we have the list of all requirements in this article compiled just for you.

What Does Workers Compensation Insurance Cost In The United States?

If you are thinking about what does workers compensation insurance cost, and want to know what it covers for employees in need, we can help.

How Much Does E&O Insurance Cost For Insurance Agents In 2022?

Learn why you need professional liability insurance and how much does E&O insurance cost for insurance agents or brokers like you.