11 Insurances to Sell at Your First Commercial Insurance Agency


The ideal types of insurance to sell at your first commercial insurance agency depend on different factors. Nonetheless, some insurance covers are more popular and lucrative than others because of their generality and usefulness in everyday life. These offer some of the highest commissions, with some paying as much as 90% of the first year’s premium and up to 3% of residual commission in subsequent years. Please familiarize yourself with all the insurance coverage offered at your first commercial insurance agency so you are always ready to pitch and close when an opportunity presents itself. Below are 11 insurance covers to sell at your first commercial insurance agency.

1. Pet Medical Insurance

Pet medical insurance is one of the first insurance policies you should sell at your first commercial insurance agency. Pet owners like it because it helps them budget for their pet’s medical needs. They can rush to pet clinics for medical attention without worrying about the costs in emergencies. Vet care can be expensive, especially for complex procedures like surgery, amputations, and transplants. According to Forbes, over 89 million homes in the U.S. have pets.

Empathy and understanding are your allies when discussing or offering pet medical insurance to prospective clients. Listen carefully to their stories and concerns and show appreciation for the pet owner’s special bond with their furry friend.

As you explain the benefits of having insurance to cover your pet’s medical needs, highlight the fact that it covers a wide range of things, such as consultations, yearly check-ups, vaccinations and other preventive interventions, emergencies, diagnostic tests like blood work, and x-rays, physiotherapies, and medications.

As a knowledgeable insurance agent, you understand a one-size-fits-all policy doesn’t do justice to the diversity in the pet space. Some people have dogs, others have hamsters, and others have lizards. So, offer to customize the policy to suit the client based on the pet’s breed, age, medical history, and species. This way, you build a reputation for your first commercial insurance agency as an expert in pet insurance.

2. Pet Life Insurance

Alongside pet medical insurance, offer pet life insurance. Unfortunately, pets die at some point. It’s an emotional experience, and pet lovers must give their pets a dignified send-off. Your conversation with the pet owner will guide you on how best to curate their policy and determine premium amounts.

A pet owner may face sudden financial obligations, such as paying for pet cremation services, the memorial, purchasing an urn for the ash, etc. Help the pet owner understand that pet life insurance alleviates all the financial burdens and allows them to focus on overcoming their grief and celebrating good days.

Assure your clients that when the time comes for them to claim on their policy, you’ll be at the forefront, helping them understand the process, gather the proper documents, and meet all the requirements for a smooth experience.

3. Event Insurance

According to The Knot, the wedding season in the U.S. is between May and October, and two million weddings occur annually during that time. Besides weddings, over 72,000 events in the U.S. are considered significant enough to warrant insurance. These include athletic events, music concerts, fashion shows, movie premieres, festivals, and launches. An event insurance policy can be a best seller at your first commercial insurance agency. Event planners and promoters may choose insurance if you help them understand how it protects them from unexpected hiccups.

For wedding venues, having event insurance is a must. People hire them to create flawless, memorable experiences for couples, families, and friends. For instance, a slip-and-fall accident can lead to legal and financial claims.

As an agent at your first commercial insurance agency, remember that every event is unique. Work closely with your clients to understand the risks they must mitigate. As with all insurance policies, be transparent about what your insurance agency can and cannot cover. Don’t lead your clients on with impressive promises so that you can close a sale.

4. Work Insurance

According to Investopedia, workers’ insurance is a government-mandated program. So, there’s always going to be a ready market for it. IBIS World reports that over half a million industrial plants are in the U.S., with millions of workers using heavy machinery such as forklifts, making their work environment accident-prone.

In your first commercial insurance company, stay up-to-date with the trends in the industrial space. Go to relevant networking events, learn and understand their operations, and stay ahead of the news so that whenever an investor announces the impending opening of a new plant, you can swoop in and pitch a custom, comprehensive work insurance cover for their consideration.

In your pitch, provide your potential clients with valuable information and resources about safety protocols, proper equipment maintenance, and employee training and capacity building. Doing this will set you apart from the competitors and build your credibility as an agent after the client’s good, instead of one who’s just after their money.

6. Precious Item Insurance

Businesses like jewelers, art dealers, auctioneers, luxury car showrooms, and a gold pawn shop handle priceless items. These businesses come with inherent risks like theft, loss, and damage. Precious item insurance is a must-have for them.

Chances are, you won’t find a business dealing in precise items that don’t already have insurance. Your work is curating a new offer they can’t resist. Understand the unique inventory of each of these businesses to educate your clients on the intricacies of precious item insurance.

Plain and truthfully explain the scope of coverage you offer, its limitations, and the claims process. This knowledge empowers clients to make informed decisions and have complete confidence in their Insurance coverage.

Individuals who own priceless things such as family heirlooms, art, sculptures, and other collectibles can also buy precious item insurance. Your first commercial insurance agency should have policies that cover both businesses and individuals or families.

7. Home Insurance

Home is where the heart is. Homes are the most significant financial and sentimental investment. They represent dreams, memories, and a sense of belonging. Even though a home insurance policy won’t say so, the cover is key in securing these sentimental interests from potential risks, such as fires and natural disasters. According to Statista, up to 86% of homeowners have some form of home insurance. You’ll be shocked to find that, according to Forbes, more than 72% of homeowners don’t understand essential home insurance coverage and what it encompasses. So it would be best to educate your potential clients on why they need it. Let them know that it generally covers property damage and repairs, theft and burglary, and personal liability, but can be tailor-made to suit specific client needs. Expound on these liabilities and give them simple everyday examples.

You can begin your sales process by educating potential clients and showing concern. Based on an article by Builtin, investing time and energy in building a connection and nurturing a relationship with a potential buyer encourages them to trust the agency and the agent.

8. Fire Insurance

Fire can devastate, consuming everything in its path and physically harming people. For businesses of all sizes, the impact of a fire incident is always catastrophic as it brings operations to a standstill, which translates into losses and sometimes legal implications.

As an insurance agent at your first commercial insurance agency, understand that fire Insurance is the lifeline that ensures financial support in the aftermath of such devastating events. Your clients are looking for a sense of assurance and peace of mind. They want to know you’ve their back covered and offer nationwide fire protection if you have more branches. The insurance agency they settle for will be the most secure.

Since premium costs can vary between businesses, be smart when bringing up the price subject. Here’s a pro tip to use in your pitches at your first commercial insurance agency: use the monthly premiums to inform the client how much they’ll pay per year and how much savings they’ll make.

Don’t forget to highlight the discounts. Once the sale is closed, keep tabs on your client and nurture a relationship with them. Since fires don’t occur every day unless your client is in a particularly high-risk business like a restaurant, not keeping in touch might leave room for a different insurance agency to pitch for the following insurance year, losing you a client.

9. Auto Insurance

Auto insurance is one of the most essential policies your agency should offer. You’re probably aware that basic auto insurance is mandatory in most states. Auto insurance clients care more about the coverage price than the liabilities covered. Most motorists have used their insurance to cover common and basic costs like a bumper repair service. It’s your job to help your clients make a paradigm shift and begin to value the scope of auto insurance coverage.

Understand the various auto insurance options and who to sell to. In an article by Forbes Advisor, new agents in their first commercial insurance agency should keep their sales open to other places beyond their local areas. Before Covid-19, agents focused mainly on their local areas, but times have changed, and that strategy is pretty limiting, especially with how the insurance market has shifted online. Don’t confine yourself to selling only in your neighborhood; think bigger!

The pandemic showed us that people do most of their research and purchases online, and that’s where the action is. You can provide a personalized experience through the Internet. Get licensed in multiple states to widen your stakes.

10. Boat Insurance

Boat Insurance is an essential service, even though it’s not a subject people randomly discuss on the streets unless you are a boat owner. According to Statista, in 2021, there were a little over 11.96 million registered vessels in America. This number includes people who own a fishing boat, charter yacht, pleasure craft, cruise ship, tugboat, sailboat, pontoon boat, etc. The list is endless.

Boat insurance provides comprehensive coverage that includes physical damage coverage to protect the vessels from damage caused by storms, collisions, and icebergs, liability coverage, which offers protection in case the boat owner is responsible for causing damage to other boats or physical harm to others while in the water, and medical payments to cover the boat owner and passengers regardless of who is at fault.

At your first commercial insurance agency, you may need to learn the types of vessels and what they need in an insurance policy. Take time to research and talk to your colleagues. Boat insurance is lucrative and could earn you high commissions once you get the knack of it.

11. Renters Insurance

You’ll find renters insurance on any insurance agency’s list of policies. According to Statista, over 45 million house units are occupied by renters in the U.S., and this number is on the rise. Out of this number, only 25% have renters insurance.

A challenge you might face at your first commercial insurance agency is the perception that renters’ insurance is expensive. You can counter this by reminding the client that the costs vary depending on certain factors and that the Independent Insurance Agents and Brokers of America have set the highest renters’ insurance monthly premium at only $12. That’s the cost of two lattes or a movie ticket!

Educate your prospective clients about what the renters cover include in terms of benefits, that is, personal property lost or damaged by a moving company, theft or natural disaster, liability coverage to cover costs associated with injuries caused by accidents within the house, and loss of use if your property becomes uninhabitable for a while.

Most people choose to rent because they cannot afford to buy homes. But remember that this is a temporary situation. A majority will move on to their own homes soon. Depending on how well you nurtured your relationship with them, you’ll have earned yourself a lifelong client as the renters’ insurance morphs into homeowners’ insurance!

As you embark on your journey with your first commercial insurance agency, learning which insurance covers are most popular and how to pitch them effectively will set an excellent foundation for success. Work hard to understand the unique needs of your clients and offer tailored solutions. Build strong relationships and establish your agency as a trusted partner with the most competitive insurance packages.

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