Perrysburg, OH – Equilibrium Insurance Partners, L.L.C., a Perrysburg based property and casualty insurance brokerage achieved below average Q3 2023 results with $40,705 of Direct Written Premium (DWP). Six new clients were added, all commercial lines clients.
Wisconsin-based West Bend Mutual Insurance Company led the way with all six of those new wins totaling $40,705 DWP. Four wins came writing childcare/daycare centers ($17,861), one in the towing space ($20,361), and one small HVAC contractor ($2,483). These wins help continue to build the foundation of a financially stable independent insurance agency. “My biggest fear is closing on the $100k plus premium account and then losing it in the first few years,” said Mac Howey, Founder. “Staying in the 10 to 50k premium range allows me to predict financials with less error and ultimately know when it’s time to hire an Account Manager.”
Equilibrium has been able to keep start-up costs extremely low by staying 100% digital. The operation is ran out of the second bedroom of Mac’s Perrysburg apartment. “According to LoopNet, the average cost for office space to lease in Perrysburg is $17.79 per square foot,” said Mac. “For 1,000 square feet, that’s $20,000 plus annually, after you factor in utilities, insurance, etcetera. My 135 square foot second bedroom is fine,” Mac chuckled. Due to staying nimble, Equilibrium has been able to achieve profitability as of April 2023.
Equilibrium had 11 appointments/quoting opportunities in the third quarter of 2023 and we closed on 6 of them. Daycare/childcare business led the way with a perfect 4 for 4 (100%). HVAC contractors were also a perfect 1 for 1 (100%). Towing was 1 for 3 (33.3%). Among the losers: hotel/motel (0 for 2) and security guard firms (0 for 1).
Towards the end of the quarter, we put up a billboard with Frankenmuth Mutual Insurance Company at the intersection of Route 25 and Five Point Rd in Perrysburg. We are excited to see what traction that gets for Q4!
We have also been slowly gaining ground in terms of Google SEO (search engine optimization). We started the quarter ranked in the 30’s when you type in “Perrysburg insurance.” We are now in the mid-teens, appearing somewhere between 13th to 16th in the last week.
For all insurance quote requests in Greater Toledo and Metro Detroit, please call 419-386-0870 or contact us here.
About Equilibrium: Established in 2022, Equilibrium Insurance Partners is a property and casualty digital insurance agency. Based behind the founding principal of the Equilibrium Insurance Point, Equilibrium’s job is to find each client’s balancing point, that is, where price and coverage intersect. Some insurance consumers are more price conscious, while others are more coverage conscious. At Equilibrium, it’s our job to figure out which type of consumer you are and tailor an insurance program to fit your individual or business’ needs.
