Career Path

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.

  • 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.

  • 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.

  • 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.