Become a Broker
Want to be your own boss? Learn how to get licensed and start your own independent brokerage.
Difference: Agent vs. Broker Licensing
In many states, the license is the same ("Property & Casualty Producer"). However, to function as a Broker (selling for multiple companies), you have additional hurdles.
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1
Pass the P&C Exam
You must take a state-approved pre-licensing course (20-40 hours) and pass the Property & Casualty exam with a score of 70% or higher.
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2
Get a Broker Bond
Unlike agents who are covered by their parent company (e.g., State Farm), independent brokers often need to purchase a Surety Bond (often $2,500 - $10,000) to protect clients from fraud.
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3
Get Carrier Appointments
This is the hardest part. You technically can't sell insurance until a company (like Travelers or Progressive) grants you an "Appointment." As a new broker, getting these appointments is difficult. Many join Agency Clusters or Aggregators to get access.
Earning Potential
Brokers have higher overhead (office rent, bond, software) but higher potential. Because you own your book of business, you can eventually sell your agency for a 2x-3x multiple of revenue.