Costello Insurance Agency Inc

What Costello Insurance Agency Inc does

Costello Insurance Agency Inc is a privately held, family-run independent insurance agency headquartered in Bradford, Massachusetts, with a branch office — Costello New Hampshire Insurance Agency — in Exeter, New Hampshire. Founded in 1954 by Robert W. Costello, Sr., the agency is now operated by the second and third generations of the Costello family and serves individuals, families, and businesses across Massachusetts and New Hampshire. The firm is a sub-10-employee Main Street agency positioned as a full-service, relationship-led brokerage rather than a technology platform.

The agency distributes a broad catalog of personal and commercial insurance products sourced through direct appointments with more than 100 insurance carriers, including an elite subset designated as core carrier partners. Personal lines span auto, homeowners, umbrella, boat, mobile home, valuable items, identity theft, disability, universal life, and long-term care. Commercial lines span property, liability, commercial auto, performance bonds, workers' compensation, professional liability, E&O, D&O, ERISA bonds, employer practices liability, liquor liability, flood, group disability and life, key-person coverage, and term/whole life. The agency supplements its in-house capabilities with referral partnerships to risk management, legal, workers' compensation, and driver-training specialists, and holds memberships in the Massachusetts Association of Insurance Agents and the Independent Insurance Agents of America.

Revenue is generated on a commission basis from insurance carriers for policies placed on behalf of clients, with premiums quoted individually based on coverage needs, risk profile, and selected carrier. Distribution is entirely direct-to-consumer through two physical offices, phone, email, and a website offering quote forms, bill payment, and claims reporting — there is no self-service online purchase and no disclosed technology or AI capability beyond standard broker website tooling.

Name

Costello Insurance Agency Inc

Legal name

Costello Insurance Agency

Website

https://costelloinsurance.com

Company type

Private

Founded year

1954

Operating status

Operating

Headcount range

1–10 employees

Short description

Costello Insurance Agency Inc is a family-run, independent insurance brokerage founded in 1954, serving individuals, families, and businesses across Massachusetts and New Hampshire with personal and commercial lines sourced from over 100 carrier partners.

Ownership category

akta.pro rank

Product category

Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro industry

PRIMARYFSAJAFAB

Mid-Market Commercial Package (Package Policies)

Financial & Insurance/Insurance — Motor, Property & Casualty/Commercial Package / Business Owners Policies (BOP)

SECONDARYFSAIAEAL

Individual Health Insurance Brokerage & Distribution

Financial & Insurance/Insurance — Life & Health/Individual Health Insurance

Keywords

• Independent insurance agency
• Personal insurance brokerage
• Commercial insurance brokerage
• Multi-carrier insurance quotes
• New England insurance services

Headquarters

HQ city

Haverhill

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Agency Commissions: As an independent insurance agency, Costello Insurance earns commissions from insurance carriers for policies placed on behalf of customers. The agency works with over 100 insurers and provides needs assessment, quoting, and policy servicing.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Costello Insurance Agency is a family-run independent insurance agency that places personal, family, and business insurance policies on behalf of clients through relationships with over 100 insurance carriers. The agency provides needs assessment, quoting, advisory, and policy servicing across auto, home, life, umbrella, boat, mobile home, disability, long-term care, identity theft, and valuable items coverage for individuals, plus property, liability, commercial auto, workers' compensation, professional liability, bonds, and group benefits for businesses. Service is delivered through two physical offices in Bradford, MA and Exeter, NH, supported by phone, email, website quote forms, and basic online client tools.

Product overview

Costello Insurance Agency Inc is a full-service independent insurance agency serving individuals and businesses in Massachusetts and New Hampshire since 1954. The agency operates as a single unified service offering rather than a software platform, providing personal/family insurance products (Homeowners, Automobile, Umbrella, Boat, Mobile Home, Valuable Items, Identity Theft, Disability, Universal Life, Long-term Care) alongside business/commercial insurance products (Property, Liability, Commercial Automobile, Performance Bonds, Workers' Compensation, Professional Liability, Errors & Omissions, Directors & Officers Liability, ERISA Bonds, Employer Practices Liability, Liquor Law Liability, Flood Insurance, Group Disability, Group Life, Key Person coverage, Short-Term Disability, Long-term Disability, Term Life, Whole Life). The agency also provides client-facing digital tools including Bill Payment, Claims Reporting, Articles & Links, and Quoting Forms. The company works with over 100 insurance carrier partners to access the best products and prices for clients.

Differentiator

Problem solved

Functional benefit

Products and services

• Homeowners Insurance
• Automobile Insurance
• Umbrella Insurance
• Boat Insurance
• Mobile Home Insurance
• Valuable Items Insurance
• Identity Theft Insurance
• Disability Insurance
• Universal Life Insurance
• Long-term Care Insurance
• Property Insurance
• Liability Insurance
• Commercial Automobile Insurance
• Performance Bonds
• Workers' Compensation
• Professional Liability Insurance
• Errors & Omissions Insurance
• Directors & Officers Liability Insurance
• ERISA Bonds
• Employer Practices Liability Insurance
• Liquor Law Liability Insurance
• Flood Insurance
• Group Disability Insurance
• Group Life Insurance
• Key Person Life and Disability Insurance
• Term Life Insurance
• Whole Life Insurance

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered minor and core.

• Austin & Stanovich Risk Managers, LLCminorImplementation/ SI/ Consulting PartnerRisk management consulting firm providing expertise in risk assessment and management strategies.
• B. H. Burke & Company, Inc.minorImplementation/ SI/ Consulting PartnerAgency management consultant providing operational and business consulting services.
• Choate Hall & StewartminorImplementation/ SI/ Consulting PartnerLaw firm specializing in employment law, providing legal counsel on employment-related matters.
• Lynch, Ryan & Associates, Inc.minorImplementation/ SI/ Consulting PartnerWorkers compensation consultants providing expertise in workers comp issues and compliance.
• In ControlminorGTM or Marketing PartnerProvides 10% discounts on advanced driver training for teens, offered as a benefit to customers.
• MA Association of Insurance AgentscoreStrategic or Co-development PartnerIndustry association membership providing advocacy, resources, and professional development for insurance agents in Massachusetts.
• Independent Insurance Agents of AmericacoreStrategic or Co-development PartnerNational industry association membership providing advocacy, resources, and professional development for independent insurance agents.
• 100+ Insurance CarrierscoreChannel Partner/ Reseller/ DistributorWorks directly with over one hundred insurance companies. Among these are an elite group of core insurer partners chosen for strong service ethic, commitment to improving loss ratios, integrity, innovation, and willingness to work as partners. Provides competitive options across auto, home, life, and business insurance.

Scale indicators4 records

Recent moves7 records

Expansion highlights3 records

Broad incumbents

• Arthur J. Gallagher & Co. Global insurance brokerage and risk management firm with deep commercial lines and employee benefits capabilities. Overlaps with Costello's commercial book but operates at significantly greater scale and breadth.
• Hub International: Large global insurance brokerage placing personal and commercial lines through carrier relationships. Overlaps directly with the independent agency model but operates at significantly greater scale across many geographies.
• Brown & Brown Insurance: Large national insurance brokerage and agency operating across personal and commercial lines. A scaled independent agency model with similar core business but vastly broader geographic and product reach than a single-state independent agency.

Direct peers

• Keystone Insurers Group: Alliance of independent insurance agencies providing shared carrier access, operational resources, and back-office support. Directly comparable as a model that small independent agencies either join or compete against.
• Strategic Insurance Agency Alliance (SIAA): National alliance and contracting group for independent insurance agencies, helping small agencies access carrier appointments and operational resources. Directly comparable as a model that competes with or supports small independent agencies.
• Cross Insurance: Regional independent insurance agency headquartered in New England (Maine) offering personal and commercial lines through multiple carrier partnerships. Comparable as a similarly-structured family/regional independent agency serving a New England customer base.
• Smart Choice Insurance: Franchise-style network of independent insurance agents placing personal and commercial lines across multiple carriers. Closely aligned business model to a small, multi-line independent agency placing policies through carrier relationships.

Emerging players

• Acrisure: Tech-enabled insurance brokerage growing rapidly through acquisitions of independent agencies. Represents both a potential acquirer of small agencies like Costello and a competitive threat combining agency distribution with proprietary technology.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/costelloinsure
• Facebookfacebook.com/Costello-Insurance-Agency-Inc-172154606324644/?fref=ts

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Costello Insurance Agency Inc