Last Updated: June 10, 2022

A Look at We Insure Franchise
And Renegade Insurance:
The Better Option for Agents

TLTR: This article looks at the We Insure Franchise and Renegade Insurance (formerly Covered by SAGE) from an agent-centric viewpoint, looking at the strengths and drawbacks of both independent insurance opportunities. The article compares business models, offerings, earning potential, and costs (such as We Insure franchise cost and Renegade Insurance fees) related to both entities and helps you choose the better fit for you.

Insurance is a dynamic industry. It has been notoriously slow in adapting digitally, but now that technology in insurance is prominent, opportunities are numerous and ever-emerging. Agents can choose a good independent insurance solution from a variety of options for a solid career in insurance sales.

Here, we look at two such options: Renegade Insurance and We Insure Franchise. Both entities have similar offerings but vastly different models for starting and running an independent insurance agency. Let’s see how they compare against each other.

In this blog

How are We Insure and Renegade Insurance different?

We Insure Group (previously We Insure Florida) runs on a franchise model, offering a “you sell, we service” model that offers market access, technology, and back-end support to independent insurance agents.

They offer agents end-to-end support and robust franchise opportunities; however, there is a retail requirement and several obligations that the franchise owners must fulfill. They also charge agents under several headings, including commission splits, franchise fees, and technology costs.

Renegade Insurance is a fast-growing plug-and-play insurtech agency that is backed by industry-defining investors. They believe that insurtech disruption in the industry will be the factor that allows agents to truly thrive, and aim to be an independent insurance solution built with agents front-and-center.

Unlike We Insure, Renegade Insurance does not operate on a franchise model. They operate as an independent insurance agency and provide technology, marketing support, and back-end support. They provide these services at nominal costs and are looking to enable agents to focus completely on revenue-generating activities. But that’s not all that they offer.


How do We Insure Agents and Renegade Insurance Agents make money?

 We Insure Agents get commissions based on each policy they write. Their commission split is either 80/20 on new business, 50/50 on renewal (Select Option), or 70/30 on new business, 65/35 on renewal (Premier Option).

Renegade Insurance agents earn on a similar model. However, the splits go up to 95/5 on new business and 50/50 on renewal, making it one of the best rates in the market. Agents also have the option of selling multiple lines of business, including life, health, personal, and commercial insurance.


How much do We Insure Franchise and Renegade Insurance charge you?

We Insure, being a franchise business, has an estimated initial total investment of anywhere between $54K to $123K, depending on franchise programs, rent costs, upfront franchise fee, and more. They offer discounts to military veterans, but they charge fees under various headings, such as:

  • Marketing and Signage Costs
  • Technology Fees
  • Compliance Fees
  • Legal Fees, and more.

Maintaining retails space also adds rental charges and insurance costs. Although they offer financing, the We Insure franchise cost is high.

Compared to the We Insure franchise cost, Renegade Insurance charges agents a bare minimum of $100 monthly service fee. They operate on a commission-sharing model; hence the success of Renegade Insurance is intimately tied to the success of the agent. They also offer agents a guaranteed buyout of a multiple of their book value, whereas We Insure has several clauses in the contract that makes it difficult for the agent to switch.

Renegade Insurance has no retail requirements either, so an agency owner can operate at zero rental costs. There are no hidden costs or franchise fees, making Renegade Insurance an attractive option with a low financial barrier of entry.

What is the market potential for We Insure and Renegade Insurance?

We Insure offers market access to over 150 carriers. They are primarily based out of Florida but are expanding nationwide. They also offer their agents servicing assistance and back-end support, allowing agents to focus on selling. However, they also charge a number of headings that the agents must pay, even if they write no business.

We Insure’s restrictions for selling your book of business also make it difficult for agents to switch or choose better options if such opportunities arise.

Renegade Insurance is partnered with slightly fewer carriers, numbered at just over 80. It is still a substantial number, and their market access is wide enough to fulfill the appetite of a large variety of agency owners. Lack of retail space and full back-end support also means that agents can focus on revenue-generating activities, that is, selling.

Renegade Insurance also offers a guaranteed buyout of a multiple of the agent’s book value, lowering the exit barrier substantially, and charge a nominal $100 monthly servicing fee for all their offerings.


What is the better choice: Renegade Insurance or We Insure Franchise?

We Insure franchise works on a proven business model, and the initial investment is very high. Similar to Goosehead Insurance Franchise, agents need to be sure about commitment before joining the franchise, and there are several costs and headings that agents must pay regularly, regardless of sales.

On the other hand, Renegade Insurance does not require high initial investment or retail requirements. There is no franchise fee, and agents can run an independent insurance agency from the comfort of their couch. Overall, their business model is better than a franchise business and truly allows an agent to focus on revenue-generating activities, like selling and retaining customers.

In a nutshell

We Insure Renegade Insurance
High Franchise Fee Yes No
Retail space required Yes No
Agents can sell life and health policies No Yes
Agents can sell personal policies Yes Yes
Agents can sell commercial policies Yes Yes
Monthly technology fees Yes No
Variable on-demand fees Yes No
Minimum $1,000-a-month royalty taken Yes No
Proprietary technology agents can use for free No Yes
Restrictions and fees on buyouts Yes No
Buyouts at multiple value of the book of business No Yes

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