How Long After You Get Your License Do You Need Insurance?


Curious about how long after you get your license do you need insurance?

You need to learn many things like how long after you get your license do you need insurance. It is an important part while learning how to become an insurance agent. So, in this article, we will mention about the insurance you need as an insurance agent. Surely, you know that you offer insurance policies to clients to protect them from some financial liabilities. As an insurance agent and a professional, you can also face such financial liabilities. So, if you want to know how long after you get your license do you need insurance, you will find this article helpful.

Learning how to get an insurance license is only the first step in your insurance career. So, make sure that you get the right insurance coverage for possible risks you face as an insurance agent. You can add listing of your business once you get insurance for yourself. 

How Long After You Get Your License Do You Need Insurance?

When you choose to become insurance broker, you need to get the following insurance coverages for yourself:  

General Liability Insurance:  

If you own an insurance agency, many clients will come and go. For example, a client who was going out of your office slipped on your floor. After that, the client demands payment for their medical checkup, stating that your office is at fault. Therefore, general liability insurance will come in handy when someone sustains any injuries in your office area.  

According to Insureon, you can expect to pay an average of $350 yearly for a liability insurance policy. Furthermore, you have the chance to combine liability insurance along with your business owner’s insurance policy.

Also, you can check out our article on how much e&o insurance does a signing agent need for specifics of professional liability insurance.

how long after you get your license do you need insurance

E&O Insurance:  

Likewise, do you sell commercial insurance? Or, do you sell personal insurance? It does not matter what type of insurance policy you sell; you can make errors. After all, you are only a human who has to do multiple tasks a day. However, if your mistakes create a loss or problem for your clients, you can be financially liable. Hence, E&O or errors and omissions insurance will take care of the expenses that can come out of your mistakes.  

Another Critical Insurance Policy For You

Worker’s Compensation Insurance:  

Similarly, if you own an insurance agency, you will need workers. Even if technology in insurance is very advanced, you need workers to do daily tasks and talk to clients. So, no matter how many staff you have or have just one employee, get worker’s compensation insurance. It will help your employees to take of any bills in case of injuries at work. Also, as the policy will cover their wage loss, keeping your employees happy is a good thing.

how to become an insurance agent
how to become an insurance agent