[graciegirl]

Originally Posted by Steve9930

Catastrophic Ground Collapse works just fine. The Insurance Companies never sold insurance that covered your property with out affecting your home.. If you have a sink hole in your back yard there is no law that says you have to fill it. I guess I don't see the reason for all the panic. Sink Holes have been in Florida forever because of what is under our feet. The reason everyone is so aware is because these sink holes used to happen in the middle of a pasture. If you look at the country side while out on the road you can see them. What do you expect when you start to build all these house over a greater expanse of the country side. As for starting a private insurance company that only covers The Villages I think you will find that there are many obstacles to that approach. There is no way to buy insurance that will take all the risk out of life.

Excellent post and perfect summary.

[DINTY]

Originally Posted by Bogie Shooter

When the Developer gets the insurance business up and running...........how about a buyers club. They buy in large lots (Like WalMart) and pass the savings along to all residents.
Then buy a cruise ship for the exclusive use of residents who would pay a small fee to cover beer consumption.
Then build a car manufacturing plant, a place for all the home constructions workers to have jobs after build-out. Residents could buy cars at a much discounted price.
Etc..........................

'Sounds like a ho ho conversation from the Angler's Club.'

The crime and sinkhole issues here in The Villages are not strivitual matters ... for the residents. All ideas are welcome.

[TNLAKEPANDA]

There is no reason why sinkhole insurance should be expensive. If a sinkhole occurs it will only effect one or two homes. It's not like they are a daily occurrence either. One or two a year would be a lot. Unlike hurricane's or earthquake's that can cause wide spread damage. A Villages Only insurance pool is a great idea. If you had half the people join (50,000) at $50 a year you could have a pool of $2.5M the firs year alone. With that kind of money you could pay for sinkholes in your yard that do not damage the house. I can not believe that no one has done this.

[samhass]

Originally Posted by Bogie Shooter

When the Developer gets the insurance business up and running...........how about a buyers club. They buy in large lots (Like WalMart) and pass the savings along to all residents.
Then buy a cruise ship for the exclusive use of residents who would pay a small fee to cover beer consumption.
Then build a car manufacturing plant, a place for all the home constructions workers to have jobs after build-out. Residents could buy cars at a much discounted price.
Etc..........................

What a grand idea. He seems to be involved in almost everything else.

[villagerjack]

The Villages is 36 Square Miles or 23,040 acres in size. The damages from sinkholes total about 1/4 of an acre, perhaps less, therefore the chances of you getting a sinkhole are about 1 in 92,160, still pretty slim.

[buggyone]

Originally Posted by villagerjack

The Villages is 36 Square Miles or 23,040 acres in size. The damages from sinkholes total about 1/4 of an acre, perhaps less, therefore the chances of you getting a sinkhole are about 1 in 92,160, still pretty slim.

How do you come up with 36 square miles? That would essentially mean 6 miles long and 6 miles wide. It is way bigger than that! Last figure I heard was around 125 square miles.

[Steve9930]

Originally Posted by graciegirl

Excellent post and perfect summary.

Thank You Gracie.

[jflynn1]

Originally Posted by Bogie Shooter

This guy makes it look so simple.
He forgot to mention the cost of lobbyist in Tallahassee!
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How to Start Your Own Insurance Company | Chron.com

How to Start Your Own Insurance Company
by Owen E. Richason IV, Demand Media


For entrepreneurs that want to build a small business that provides an ongoing revenue stream for years to come, an insurance agency is an ideal opportunity, as clients repurchase products to ensure that coverage continues. Among the types of insurance products an insurance agency can sell are: life, annuity products, term and whole health, automobile, homeowners, property, causality, and disability. Opening an insurance company requires some preparatory steps.





Step 1
Become a licensed insurance agent. Laws and identifiers differ by state, but in general you will need a Property and Casualty Insurance license and/or a Life, Health and Variable Annuity license. For instance, in the state of Florida, these are referred to as 440 and 220 licenses respectively. Each can be obtained online or through classroom instruction. Most community colleges also offer these courses.

Step 2
Determine what products you will offer. Typically, insurance agencies do not limit themselves to specific products and carry a variety of insurance plans. However, you might consider specializing in one particular product while still offering other insurance plans. As an example, you might wish to focus on corporate health benefit plans and sell employee insurance benefits to companies while still offering life and variable annuity products.

Related Reading: How to Start Your Own Purse & Bags Company

Step 3
Apply for a business loan and insurance. Compile a list of all start-up costs including but not limited to: office equipment, lease monies, employee expenses like wages and benefits, and insurance, such as liability and errors and omission insurance. Using these numbers have an accountant or business plan writer write a business plan to apply for a small business loan using the Small Business Administration's approved lender database.

Step 4
Locate suitable office space. Office space should have a well maintained exterior and interior and provide enough space for a reception area, one or two offices and a conference room for initial client consultations and workshops for potential clients.

Step 5
Buy a franchise or open your own agency. Choose between buying a franchise and opening your own independent insurance agency. The advantages of buying a franchise is operating under a well established name and having access to "in-house" financing provided by the parent company. The advantage of opening an independent agency is freedom to choose any product.





References (2)




Resources (2)




About the Author

Owen Richason grew up working in his family's small contracting business. He later became an outplacement consultant, then a retail business consultant. Richason is a former personal finance and business writer for "Tampa Bay Business and Financier." He now writes for various publications, websites and blogs

Your Link is misleading. There is a big differnece between starting an insurance cmpany and Opening an Insurance Agency. The link deals with starting an Insurance Agency.

Having been involved with both opportunities starting and owning an agency is alot easier that starting an insurance company, especially one with one purpose... Sink Holes. Not impossible to do, just very difficult.