Farmers Insurance

SUPERSALESMAN205 · 10-21-2009, 05:19 AM

Does anyone know how Farmers view credit? I mean are they as strict as State Farm?

kingkrazy · 10-21-2009, 03:08 PM

It depends on what you mean by strict. I went through the Framers program a year and a half ago and at the time of being hired they pointed out a few things on my credit that needed to be taken care of to move through the Career agent program. From what my DM said, Farmers wants all their agents to be able to get licensed to sell securities, which means being approved through the SEC, so it was mostly their credit requirements that were important. I would imagine State Farm would be similar.

SUPERSALESMAN205 · 10-21-2009, 06:46 PM

Well what I mean is that State Farm looks @ your last 36 mth credit history and use a very strict point system, just trying to see if Farmers approach was any different.

djs · 10-21-2009, 10:23 PM

Anyone who has to get a securities license will face similar scrutiny. It also requires pretty clean credit to become a captive P&C agent with binding authority.

This single issue keeps a lot of people away from becoming a P&C insurance agent.

I would recommend you talk to a Farmers District manager. Of course they will tell you that they can work wonders, but, if they know you've had an issue with State Farm already, they will probably be pretty upfront on how the system works. Personally, I have no idea, just that they turn a lot of people away due to credit.

Dan

SUPERSALESMAN205 · 11-08-2009, 05:12 PM

Well I got a call on Friday and they said that everything went through with no problem and that I am approved, so I'm suppose to meet with them again on Tuesday.

kingkrazy · 11-08-2009, 11:30 PM

Congrats!!