Search CompleteMarkets

... agency's business is in commercial lines, and about half of that is with construction businesses, Ward says. When I got in the business in 1979, no one in our immediate area was providing that service, ' Ward says. But because of the defense construction boom and our proximity to Fort Hood , it was a natural market to explore. It got down to just recognizing the need and doing something about it. To develop this new market, Ward set about establishing his agency as a good backup source for contractors. He ... bonds and used-car dealer bonds-are marketed solely within Texas . The others-personal watercraft (jet ski) insurance and hole-in-one coverage-are marketed outside the state as well. When Everhart started his agency on April's Fool's Day 1970, he handled standard fire and casualty lines and specialized in the trucking industry. But he quickly found that he was spending most of his time convincing carriers to underwrite programs instead of selling products to potential customers. That seemed like a waste of time. So he dabbled in niche markets, enjoyed the change of pace and eventually ... his other lines of business. From that early experience, Everhart developed three agency rules for any potential niche market: there should be little or no competition, little or no underwriting activity, and little or no service after the sale. Minimum competition is guaranteed by the small size of many of the products that Everhart sells. Notary publics, for example, pay $50 for a four-year, $2 ,500 bond. Most agencies aren't interested in such small premiums and only write the coverage when an existing client, such ...

...ecause of the defense construction boom and our proximity to Fort Hood , it ...The notary public bonds and used-car dealer bonds are required by the state,' ...