Independent renters insurance agent

Tenants pay premiums to the insurer. The insurer pays you commission. Landlords and property managers send you tenants but usually don't pay you.

Commission from the carrier on each policy sold and renewed. Renters policies are small, so income depends on steady volume, renewals and bundling with auto or other lines where you are licensed.

• Explaining insurance in plain language
• Sales and relationship building
• Organized record keeping and follow-up

• State producer license: check your state's pre-licensing, exam, fingerprinting and renewal rules
• Errors and omissions insurance, which many carriers and agencies expect
• Commission per policy can be low, so check carrier terms before expecting a full income
• Rules on advertising, handling premiums and disclosures differ by state, so check with your state insurance department
• Home-based business rules, such as HOA or lease limits

Startup costs are typically estimated at around $500 to $3,000, depending on licensing, errors and omissions cover and your home office setup. State pre-licensing, exam, fingerprinting and renewal rules are worth checking early.

Check your state's producer license rules, including pre-licensing, exam, fingerprinting and renewal. Also check errors and omissions insurance, which many carriers expect, and rules on advertising, handling premiums and disclosures with your state insurance department.

Monthly revenue is typically estimated at around $500 to $2,500, depending on how many policies you place. Commission per policy can be low, so check carrier terms before expecting a full income.