Renters insurance agent under an agency

Tenants pay premiums to the insurer. The agency pays you a share of the commission.

A commission split with the agency on each new policy and renewal. Your split is usually lower than an independent agent's, but you start with less setup.

• Clear, friendly communication
• Online marketing basics
• Following compliance and record-keeping rules

• A state producer license is needed before selling, so check with your state insurance department
• Ask whether you are an employee or independent contractor and who pays for errors and omissions cover
• Be careful of agencies that charge high fees upfront or promise income
• Advertising and lead-buying rules for insurance differ by state, so check before you market

Startup costs are typically estimated at around $300 to $1,200, depending on licensing and your online setup. Ask who pays for errors and omissions cover, and be careful of agencies that charge high fees upfront.

Monthly revenue is typically estimated at around $200 to $1,000, depending on how many policies you sell. The agency pays you a share of the commission, so check the split. The estimate assumes at least about 5 hours a week.

A state producer license is needed before selling, so check with your state insurance department. Also ask whether you are an employee or independent contractor, and check state advertising and lead-buying rules before you market.