Small Business and Entrepreneurship

How much does it cost to open an insurance agency?

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Answered 2011-09-13 03:48:27

You can do so with very little capital. It depends on if you intend to sell just life products or P&C as well. Everything depends on your state. You must obtain a license ($100-$300) E&O insurance ($1000 +/-) office equipment, letterhead, business cards etc. You can start by working out of your home office or leasing a space. My suggestion is to work as a broker. One strong consideration is you would need 3-6 months of money in the bank to survive on. People do not walk in your door asking to give you their business. You must go out and get it. You can work with a lead organization that will resolve that problem. It is the least expensive and you can simply work out of a home office. 4lifeguild

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