The Real Cost of Starting an Independent Insurance Agency

The Truth About Independent Commissions & Contingencies

Are you tired of taking commission "haircuts" while building someone else's book of business? In this episode of The Independent Roadmap, James Roberts and John Scheer tackle the topic that is near and dear to every agent's heart: getting paid. They break down the exact commission structures, average renewal rates, and hidden revenue streams available in the independent insurance space. If you are currently making 2%, 5%, or even 7% on your renewals at a captive carrier, this episode will show you the exact math of how going independent can effectively double your income on the exact same size book of business. In this episode, we cover: * Standard Commissions: The standard 10% to 15% (and sometimes up to 25%) ranges for new business and renewals across personal and commercial lines. * The Captive vs. Independent Gap: Why the average independent agency with a $1M to $3M book sees an average renewal rate of 12%. * Quarterly Bonuses (PMSF): How MIAA and SIAA pay out quarterly bonuses. * Year-End Contingencies: Why most standard carriers require a $250,000 premium threshold to qualify for profit sharing, and how joining the alliance bypasses that hurdle so you earn contingencies immediately. * Broker Fees: How to leverage E&S business to create an entirely new revenue stream for your agency. Don't just produce—own your legacy. Resources Mentioned: * Connect with James Roberts on LinkedIn: https://www.linkedin.com/in/james-roberts-kc/ [https://www.linkedin.com/in/james-roberts-kc/] * Book a direct appointment with James: [Insert Booking Link] * Connect with John Scheer on LinkedIn: https://www.linkedin.com/in/john-scheer-lincoln/ [https://www.linkedin.com/in/john-scheer-lincoln/]

The First 6 Months of Your Independent Agency (What to Expect)

If you had to sum up the first six months of starting an independent insurance agency in one word, it would be: chaos. In this episode of The Independent Roadmap, James Roberts (who recently launched his own scratch agency) and John Scheer break down exactly what happens on day one after you sign your contract with MIAA and SIAA. From setting up your tech stack to securing direct carrier appointments, they walk you through the onboarding blueprint designed to get you writing business immediately. In this episode, we cover: * The Support Team: How your assigned Onboarding Specialist and Agency Growth Coach guide you through the initial transition and help you execute your business plan. * Tech & Quoting: Getting connected to SIAA Connect, the EZLynx Rater, and using the Access Plus team to quote and bind personal and commercial lines from your very first day. * Agency Management: Why setting up your AMS (like Nexsure) and Ivan's download is critical for keeping track of your growing book of business. * Training & Marketing: How the Agency Foundation and Business Insurance Advantage (BIA) courses fast-track your success and help establish your marketing plan. * Carrier Appointments: The real timeline (4 to 8 weeks) for securing direct carrier appointments and how MIAA advocates on your behalf with territory reps. Don't just produce—own your legacy. Resources Mentioned: * Connect with James Roberts on LinkedIn: https://www.linkedin.com/in/james-roberts-kc/ [https://www.linkedin.com/in/james-roberts-kc/] * Connect with John Scheer on LinkedIn: https://www.linkedin.com/in/john-scheer-lincoln/ [https://www.linkedin.com/in/john-scheer-lincoln/] * Attend the next SIAA Informational Session: https://www.siaa.com/introduction-to-siaa-webinar/ [https://www.siaa.com/introduction-to-siaa-webinar/]

The Future of E&S Insurance (with DJ Postles, CUO of SIAA Xchange)

The Excess and Surplus (E&S) market is no longer the exception—it is the core competency you need to grow your independent agency. In Episode 7 of The Independent Roadmap, James is joined by DJ Postles, the Chief Underwriting Officer at SIAA Xchange. With over 25 years of underwriting and distribution leadership experience, DJ breaks down exactly why the E&S market has experienced double-digit growth and how small independent agents can leverage it to win complex accounts. In this episode, we cover: * The E&S Boom: Why E&S now comprises 12% of the entire US P&C insurance market and why it's not slowing down. * The AI Advantage: How SIAA Xchange is using AI for smart routing to get your submissions to the top of the underwriter's stack. * Parametric Insurance: A breakdown of this emerging product and how you can use it to supplement natural catastrophe risks. * Lloyd's of London: What SIAA Xchange's new cover holder status means for member agencies and market access. * The Future of the Independent Agent: Why the agent is far from dead, and how to transition from a "seller of insurance" to a true risk advisor. Don't just produce—own your legacy. Resources Mentioned: * SIAA Xchange: https://siaaxchange.com [https://siaaxchange.com] * Learn more about Lloyd's of London: https://www.lloyds.com [https://www.lloyds.com] * Connect with DJ Postles on LinkedIn: https://linkedin.com/in/djpostles [https://linkedin.com/in/djpostles] * Connect with James Roberts on LinkedIn: https://www.linkedin.com/in/james-roberts-kc/ [https://www.linkedin.com/in/james-roberts-kc/]

The Real Cost of Starting an Independent Insurance Agency

You know how to start an agency, but how much does it actually cost? In Episode 6 of The Independent Roadmap, James Roberts and John Scheer break down the exact financial blueprint for starting a scratch independent insurance agency. From your initial state licensing to the required tech stack, they leave no stone unturned so you know exactly what capital you need to get off the ground. If you are a captive agent or producer trying to calculate your runway, this episode gives you the exact dollar amounts you need to budget for your first year. In this episode, we break down the costs for: * Business Structure & Licensing: The real fees for LLCs ($100-$250) and resident/non-resident agency licenses. * Required Insurance: What you should budget for a solid Errors & Omissions (E&O) policy ($1,400-$1,800) and standalone Cyber coverage ($550-$800). * The Tech Stack: Monthly breakdowns for your Rater (EZLynx, PL Rater), Agency Management System (AMS), and CRM (AgencyZoom). * Branding: Why you can't afford a Hotmail email address, and the cost of basic websites and domains. * Lead Generation: Where to find leads when the "mothership" stops feeding them to you—ranging from BNI memberships to free, old-school door knocking. Don't just produce—own your legacy. Resources Mentioned: * Connect with James Roberts on LinkedIn: https://www.linkedin.com/in/james-roberts-kc/ [https://www.linkedin.com/in/james-roberts-kc/] * Connect with John Scheer on LinkedIn: https://www.linkedin.com/in/john-scheer-lincoln/ [https://www.linkedin.com/in/john-scheer-lincoln/]

The Ultimate Checklist for Starting an Independent Insurance Agency

You have the drive and the vision, but how do you actually start an independent insurance agency? In Episode 5 of The Independent Roadmap, James Roberts pulls from his own recent experience of starting an agency to give you the exact, step-by-step administrative checklist you need to get your business off the ground. Going from a captive agent or producer to a true business owner can feel overwhelming, but this episode breaks the process down into actionable steps. In this episode, we cover: * Naming & Structure: How to lock in your name, check Secretary of State availability, and the importance of DBAs and LLCs. * Licensing & Documentation: Why getting your EIN immediately is crucial, and how to properly align your agency license with your home state's Department of Insurance. * E&O and Cyber Insurance: The hidden nuances of Errors & Omissions coverage (like defense inside vs. outside limits) and why a standalone cyber policy is non-negotiable. * Banking Setup: Why you absolutely need both an Operating Account and a Premium Trust Account to avoid co-mingling funds. * Carrier Contracts: The final, most exciting step—and why going it alone is getting harder in the current market. If you are ready to stop building someone else's legacy and start building your own, this is the blueprint. Resources Mentioned: * Connect with James Roberts on LinkedIn: https://www.linkedin.com/in/james-roberts-kc/ [https://www.linkedin.com/in/james-roberts-kc/] * Connect with John Scheer on LinkedIn: https://www.linkedin.com/in/john-scheer-lincoln/ [https://www.linkedin.com/in/john-scheer-lincoln/] * Attend the next SIAA Informational Session: https://www.siaa.com/introduction-to-siaa-webinar/ [https://www.siaa.com/introduction-to-siaa-webinar/]