Home-Based home insurance agent

Insurance companies pay you commission. The customers are homeowners, new buyers, renters and landlords, who normally pay only their premiums.

You earn a commission on each new policy and on renewals, usually a percentage of the premium. Income builds slowly as your book of clients grows. Some agencies also pay bonuses based on results.

• Explaining coverage in plain language
• Sales and follow-up
• Careful paperwork and organization
• Building trust with local people

• Your state requires an insurance producer license, so check exam, fee and continuing education rules with your state insurance department
• Check whether you need errors and omissions (E&O) insurance, and whether the agency you join covers you
• Commission-only income can be slow at first, so plan for months without much revenue
• Check rules on advertising, handling customer data and working from home, including any HOA or lease limits
• Carrier appointments and commission terms vary, so read contracts carefully before signing

Startup costs are typically around $500 to $2,500, depending on licensing exam and fees, any errors and omissions insurance, software and your home office setup. These are estimates, so check your state insurance department's fees.

Monthly revenue is typically around $400 to $3,000, depending on the carriers you work with, commission terms and how many policies you sell. The idea assumes at least 10 hours a week. These are estimates, and income can be slow at first.

Check your state's insurance producer license requirements, including exam, fees and continuing education, with your state insurance department. Check whether you need errors and omissions insurance, and rules on advertising, customer data, HOA or lease limits, and carrier contract terms.