How to buy an Allstate agency?

Posted: Sun Sep 28, 2008 08:52 pm Post Subject:

Just like an allstate independent agent - there are agents with other companies. Many times you will find this in smaller towns (but not necessarily limited to that).

Normal first year salary? That depends on too many things. If you start "scratch" (do not purchase a book of business - zero accounts/policies when you open the door) - there is a good possibility you won't have much of a salary the first year. But that also depends on how much business you can bring in. Buying a book of business will produce more initial income, but you have more expenses too.

You will definitely make more if you buy a book of business than buying an allstate agency and starting from the scratch.

Posted: Sun Sep 28, 2008 09:34 pm Post Subject:

I was thinking of buying an allstate agency for quite some time. Now I see, I am looking at a book of business and I'm not sure if it is a reasonable deal.
Both him and his wife have an Allstate business and they are combining it and he is selling his book of business.
The book of business consists of about 1400 clients.

Posted: Sun Sep 28, 2008 09:50 pm Post Subject:

PM to me: Annual premium, retention, loss ratio, how much of book is personal lines compared to commercial lines.

Also, have you already been approved by Allstate? I guess these are some vital points that need to be addressed while buying an allstate agency these days.

Posted: Tue Nov 25, 2008 02:45 pm Post Subject: buying an existing allstate agency

looking into an est agency with about $1.4mm in premiums, 51% lr and 86% retention. I think he's asking $350,000 which i think is too much---started agency about 6 years ago and built it up. Thoughts?

Posted: Mon Feb 09, 2009 07:28 pm Post Subject:

That price seems about right. You will normally see that a book of business is purchased about 2 1/2 times the commision it brings in: Allstate's 1.4 mil book brings in 15% of 1.4 mil... 210,000... If you multiplied that by 2 1/2 times you wil get = 525,000.00 you are getting a better deal than you expect..

Posted: Mon Mar 09, 2009 07:21 pm Post Subject: Allstate or Farmers

I am interested in becoming an INDY agent under either Farmers OR Allstate. Allstate seems to have better advertising and offer better rates. How is Allstates training program? I herd Farmers is weak> any ideas?

Posted: Sun Nov 01, 2009 12:26 am Post Subject: buying an allstate agency

I have spoken to an agent who has indicated he wants to sell his agency. He shared some confidential information
with me such as his earnings for 2008 and other pertinent information. I have a degee in marketing as well as sales experience and money to invest.
He said that I would need to speak to a representattive
from Allstate. That was three weeks ago and I haven't heard from this individual even though they have my e-mail & ph. #. What do I do? Thanks.

Posted: Fri Jan 22, 2010 07:21 pm Post Subject: Ideal Agency Model

Do research on Allstate's future business model. It will be much tougher than any recruiter or manager will tell you!

Posted: Mon Mar 22, 2010 08:04 pm Post Subject: Callcenter and Telemarketing Services

Dear Sir,
My name is Shozab I represent a company called Hogo Works Solutions Private Limited based in Bombay, India.
We specialize in Appointment Setting Campaigns and have an expertise in Setting Appointment in B2C as well as B2B sectors. We have worked on Insurance Appointment Setting Campaigns and are fully equipped with experienced Telemarketers who can generate Quality Appointments with all the Criteria met. Also, every Appointment set will be supported with its Voice File.

I will appreciate if you revert with the Project Details along with the Script.

Thanks and Regards

Shozab Syed
Hogo Works Solutions Pvt Ltd
Email: shozabsyed_110@yahoo.com
Skype ID: shozab.syed

Posted: Wed Jun 09, 2010 07:16 pm Post Subject: Approved...going forward!

I have been approved by AS and considering starting from scratch...any thoughts, ideas, opinions:-)

thx
rdr