Insurance Agency Startup Cost Comparison
New Haven, CT vs Houston, TX
New Haven, CT
$22,000 - $90,000
COL Index: 113.8
VS
Houston, TX
$21,000 - $89,000
COL Index: 96.5
Detailed Cost Comparison
| Expense | New Haven, CT | Houston, TX | Difference |
|---|---|---|---|
|
Business Registration & Licenses
|
$2,000 - $6,500 | $1,900 - $6,200 | +5% |
|
Insurance Producer Licenses
|
$1,000 - $4,000 | $1,000 - $4,000 | Same |
|
Office Lease (First + Last + Security)
|
$3,300 - $16,600 | $4,100 - $20,500 | -19% |
|
Technology & Equipment
|
$2,000 - $8,000 | $2,000 - $8,000 | Same |
|
Carrier Appointments & Bonds
|
$1,000 - $5,000 | $1,000 - $5,000 | Same |
|
E&O and Business Insurance (Annual)
|
$1,500 - $6,000 | $1,500 - $6,000 | Same |
|
Marketing & Lead Generation
|
$2,000 - $10,000 | $2,000 - $10,000 | Same |
|
Working Capital (3-6 Months)
|
$9,100 - $34,100 | $7,700 - $29,000 | +18% |
| Total Estimated Cost | $22,000 - $90,000 | $21,000 - $89,000 | +2% |
Local Market Factors
| Factor | New Haven | Houston |
|---|---|---|
| Cost of Living Index | 113.8 | 96.5 |
| Commercial Rent ($/sqft/yr) | $16 - $35 | $18 - $45 |
| Labor Rate Index | 1.1 | 0.92 |
| Sales Tax | 6.35% | 8.25% |
| Minimum Wage | $16.35/hr | $7.25/hr |
| LLC Filing Fee | $120 | $300 |
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