I Am Thinking About Becoming Allstate Agent

[P&CGuru]

Your right to a point, But YOU might be doing well right now, but as soon as your only company pulls a significant rate increase, You goals will go down the hill. When I started at Farmers, all was well, then rate increases started, at one point, for 6 straight quarters, they pulled 5.5% INCREASES!!! Lets see how your production works from that!

You are a Allstate Agent, lets see how you feel when Esurance starts stealing your clients, because they will.

When I started at Farmers say 7 or 8 years ago, things were great, I bled red and blue, then shyt hits the fan and things change.

Some captives may be so far in, they cant get out.

I see captive companies now as minor league teams, just training and teaching "players" that when they want to hit the big leagues, they will quit and go IA.

Your right, we have seen our share of increases in va and have had to do a lot of damage control. lost some but intensified our marketing and made up for the lost policies and some. I would love to go independent if I could only find a good book over 4 million in premium in my area, until then ill ride the captive wave as high as it can take me

 

[Guest]

Your right, we have seen our share of increases in va and have had to do a lot of damage control. lost some but intensified our marketing and made up for the lost policies and some. I would love to go independent if I could only find a good book over 4 million in premium in my area, until then ill ride the captive wave as high as it can take me

So your too good to start your own IA huh??

 

[P&CGuru]

So your too good to start your own IA huh??

What are you talking about????? I would have to sell 4-5 times as much business in a IA to make the kind of money im making now as a captive. Why would I want to do that. To even break even I would have to sell 100k annual premium a month. If i thought i was that good then i would have started a scratch IA but since i dont care about being that good I wouldn't. Also why on earth would anyone want to open a scratch agency as apposed to buying an existing book, it does not make any mathematical sense to do so.

 

[Usfbulls25]

Okay, Allstate is one option I am considering. Has anybody heard of or dealt with Brightway Insurance? This is another option I am considering.

Thanks

 

[superdave45040]

What are you talking about????? I would have to sell 4-5 times as much business in a IA to make the kind of money im making now as a captive. Why would I want to do that. To even break even I would have to sell 100k annual premium a month. If i thought i was that good then i would have started a scratch IA but since i dont care about being that good I wouldn't. Also why on earth would anyone want to open a scratch agency as apposed to buying an existing book, it does not make any mathematical sense to do so.

1.) Run, Run, Run from Allstate. It's a toss-up who they treat with the greater distain- their customers or agents.
2.) As an independent agent completing my second year in business I am profitable and (unfortunately) doing nothing like $100,000/month.
3.) If you are more interested in the value you deliver to your customers than your paycheck how can you be anything but an independent agent. In Ohio the superior policies, premiums and service belong to the strong regional
carriers. As a captive agent your are selling the same product to everybody-product pushing vs shopping policies/companies to the best value for your customer.
4.) I don't have to push mutual funds, bank acconts, auto loans and all the other time wasters.
5.) Independence, Independence, Independence.

 

[xrac]

1.) Run, Run, Run from Allstate. It's a toss-up who they treat with the greater distain- their customers or agents.
2.) As an independent agent completing my second year in business I am profitable and (unfortunately) doing nothing like $100,000/month.
3.) If you are more interested in the value you deliver to your customers than your paycheck how can you be anything but an independent agent. In Ohio the superior policies, premiums and service belong to the strong regional
carriers. As a captive agent your are selling the same product to everybody-product pushing vs shopping policies/companies to the best value for your customer.
4.) I don't have to push mutual funds, bank acconts, auto loans and all the other time wasters.
5.) Independence, Independence, Independence.

Good advice!

 

[Mark]

I would think Statefarm would be better than them.

 

[xrac]

I would think Statefarm would be better than them.

I agree but I do not think SF is currently a good deal either.

 

[Insurance1guru]

No Allstate is a bad deal and I know I just sold my agency. Allstate is losing business year over year. Read the earnings reports from the past 2 years. Rates are horrible and management treats you horrible. They set unreachable goals and threaten and follow throught with termination if you don't meet it. Allstate is lowering the commission to 8% next year. Yes there is also in that the possibility of making up to 11% b but it is expected that over 70% will earn the 8%. State Farm is having problems. Home owners policy rate is horrible and they have crazy expectations. If you were going to go captive and they are in your state you might take a look at Nationwide's Agency Capital Builder program. Very supportive program to launch your new career as a P&C agent. Not alls teh BS that Allstate and State Farm dish out. Independent is the best place to end up just have to find a way to get your start in the business that way. You will never be able to start as newbie and get contracts and an MGA probably would not bring you on with no experience. You would have to cut your teeth as a producer somewhere first before going on your own if you were to begin your career as an indy. Run like hell from Allstate.

 

[new2insFL]

Yes, I am another person possibly looking into this offer from Allstate. I would like to hear from persons that live in FL and if possible on their experience and if they are looking to sell. I cannot send Personal Messages as I have to post 20X before this is allowed.

P&CGuru - I would really like to talk with you to see how things are going.

Bill - If you are still monitoring these boards, I would also like to find out if you ended up purchasing the book of biz that you were looking at and how things are going on your end as well.

Thank you!