If you were going to start up your own captive insurance agency, which company would you choose and why?

Question

I'm in the process of doing this... can't afford to go independent. I'm in TEXAS.

Answer 1

Nationwide. Better customer service

Answer 2

Hmm.  Good question.  State Farm actually offers the only all risk (I hate that phrase, for the record, but you know what I mean) homeowners policy in Texas that I know of, so that's a MAJOR advantage.  OTOH, State Farm (and Farmers) also have no qualms about shutting down states where they are losing money, every few years - which would KILL you.

I'd have to say, probably Allstate or Nationwide.

Answer 3

Depending on WHERE you live in Texas, there might even be an opportunity to open a GEICO office! They have bee running ads in various papers around the State.  With all of the money they are pouring into advertisement....

Go to GEICO.com and look for their Field Service Agent program.  I looked into it and it seemed like a pretty good program, hover, they wanted me to give up what I already have and start from scratch - and I wasn't interested in doing that!

Have you thought about looking around and trying to find an agency for sale?  I'd stray away (that means RUNLIKEHELL) from any Brooke opportunities, but, I'd bet that there are several agencies within a 50 mile radius of you that would sell if the price was right....and there are a couple of companies out there that would front the money for a cash sale - based on your renewals.....email me direct if you want some more info on that.

You might also plan on attending the PIA Convention in Galveston in May. See www.piat.org for additional info.

Good luck and I hope this helps!