Home-based insurance broker (authorised rep)

Small business owners, tradies, landlords and households. The insurer usually pays you commission, and some brokers also charge a fee to the client.

Commission on each policy placed, plus broker fees on some work. Income builds as clients renew each year, so a growing book of renewing clients matters more than one-off sales.

• Explaining complex products in plain language
• Attention to detail with policy wording
• Networking and building trust
• Careful record keeping

• Advising on or arranging general insurance generally needs an Australian Financial Services Licence or authorisation under someone else's, so check with ASIC before taking any client
• Check what the licensee charges, what commission you keep, and who owns the client list if you leave
• Check training, professional indemnity cover and complaints scheme requirements, which are usually handled through your licensee
• Check your local council's rules on running a home-based business
• Income can be slow at first because renewals take time to build

Startup costs are typically around $2,000 to $8,000, depending on your set-up, training and what your licensee requires. These are estimates only, so check what the broker or aggregator you work under charges before you sign up.

Monthly revenue is typically around $1,000 to $6,000, depending on how many clients you place and how many renewals you build up. Income can be slow at first because renewals take time to build.

Arranging general insurance generally needs an Australian Financial Services Licence or authorisation under someone else's, so check with ASIC before taking any client. Also check licensee charges, commission, who owns the client list if you leave, and training and professional indemnity requirements.