How much to charge as a insurance broker: pricing your work
Pricing is one of the decisions that most affects your income (or your headaches) as a insurance broker. There's no magic number, but there is a method to reach a fair price that pays off and that the client understands.
1. Start from your real costs, not the competition
Add everything up: materials, travel, the time you spend (including what you don't bill), taxes and a margin. That's your floor. Looking only at the shop next door leads to a price war nobody wins.
2. Choose how you charge: session, pack or bundle
Charging per session is simple. Packs and bundles (several sessions paid up front) raise your average ticket, build loyalty and give you cash up front. Combining both is usually the most profitable.
3. Avoid the classic mistakes
The three classics: charging too little out of fear, not charging for last-minute cancellations, and never raising prices. All three quietly decapitalise you.
A clear booking and payment policy prevents most misunderstandings.
4. How to raise prices without losing clients
Raise them gradually, with notice, explaining the value (not the cost). Clients who leave over a reasonable increase were rarely your best clients. The good ones stay if the service is worth it.
5. Charge online and up front when you can
Charging (or taking a deposit) at booking cuts no-shows and secures the income. With online payments built into booking, the client pays without friction and you have the record of everything in one place.
FAQ
How do I know if my price is right as a insurance broker?
If it covers your costs with a margin, if you can work at a sustainable pace and if it attracts the clients you want. If you're always fully booked and exhausted, you're probably charging too little.
Is it better to charge per session or with packs?
Packs and bundles are usually more profitable: they raise your average ticket, build loyalty and give you cash up front. Offer both and let the client choose.