Farmers Insurance

AJS · 10-23-2009, 10:31 PM

Why are you bailing? I have a meeting with them next week and am looking for any new information I can get on the company and opportunity.

I am asking wondering if it was more a personal decision or is the company that bad to work with?

All of the reading I have done here so far leads me to belive that the main things that can make or break the experience are:

Being financially stable with no debt to weather the first year.

That the DM is not a stroke and can actually help you to develop.

The company has to be competitive on rates in your area.

If anyone thinks I am missing anything please let me know.

About you bailing I have read on this forum that if you are in a right-to-work state the non-compete does not apply. Hope that helps.

rc2391 · 10-23-2009, 10:55 PM

Has anyone bailed from Farmers?? I'm asking because I'm thinking of bailing and not sure what to expect as far as the contract goes.

Thanks,
RC

superfly33 · 10-24-2009, 11:38 AM

Originally Posted by rc2391

Has anyone bailed from Farmers?? I'm asking because I'm thinking of bailing and not sure what to expect as far as the contract goes.

Thanks,
RC

Are you a Reserve Agent or Career Agent?

Farmers is not known to be competitive in a lot of markets so I wouldn't bet on that. My ex-DM's MO is to upsell prospects on coverages so we can justify the extra cost.

rc2391 · 10-24-2009, 03:05 PM

I am a career agent. I started with them Feb. 2009 and turned career in April 2009. Basically the reason I am thinking of bailing is because we are very uncompetitive in home and auto. My home quotes are always $500 or more to what someone is currently paying. My DM says I have to sell on value. Well, guess what these people are not buying on value they are looking to save money. I did not become an agent with a multi-line company to be able to only sell one line which is auto thru Bristol West. I want to be able to cross sell all lines. I have been doing isurance for the past 5 1/2 - 6 years and I know people that only have 1 line of insurance with you don't stay. People with multi-policies are more likely to stay with you for a longer period of time.

I am not saying that Farmers is a bad company but maybe not a match for me.

I still have not bailed...and just wondering what to expect if I do??

Thanks,
RC

superfly33 · 10-24-2009, 03:30 PM

That's a hard question to answer because a lot of variables are in play. I would suggest you do a search for Farmers in these forums and you will find a lot of Farmers agents in your shoes trying to make the same decision.

I was once a Reserve Farmers agent but quickly found out that they are uncompetitive in P&C and especially Life insurance so I bailed. The insurance profession can be a long and prosperous career so I wouldn't limit myself just because I have a few months invested with Farmers.

rc2391 · 10-30-2009, 12:56 PM

I did it!! I gave my notice and it's the best decision I made...

superfly33 · 10-31-2009, 05:34 PM

So much in life is about knowing what you want and going for it. Good luck out there!

Lyn · 10-31-2009, 05:51 PM

Originally Posted by rc2391

I did it!! I gave my notice and it's the best decision I made...

I'm also considering bailing. What were the consequences for you. I know that I have to pay back 1/2 of the subsidy payments, but what else?

rc2391 · 11-01-2009, 10:37 PM

Originally Posted by Lyn

I'm also considering bailing. What were the consequences for you. I know that I have to pay back 1/2 of the subsidy payments, but what else?

Well, first he tried talking me out of it cuz the DM is resonsible for 1/2 the subsiy as well. So far from what I was told by my DM is that I have to pay back 1/2 of the subsidy given to me but that he had to check to see what my contract value is as that would be subtracted from what I owe. I gave a 30 day notice and I have to see if they accept it because the contract states 90 days. I'm hoping they accept my 30 days to not have to deal with them anymore.

Lyn · 11-02-2009, 05:29 PM

Originally Posted by AJS

Why are you bailing? I have a meeting with them next week and am looking for any new information I can get on the company and opportunity.

I am asking wondering if it was more a personal decision or is the company that bad to work with?

All of the reading I have done here so far leads me to belive that the main things that can make or break the experience are:

Being financially stable with no debt to weather the first year.

That the DM is not a stroke and can actually help you to develop.

The company has to be competitive on rates in your area.

If anyone thinks I am missing anything please let me know.

About you bailing I have read on this forum that if you are in a right-to-work state the non-compete does not apply. Hope that helps.

I like Farmers and think they are a solid company. My problem is that my office is in a rural area and they are not competitive here for homes and they don't insure farms at all. I did not know that going in, and in fact I didn't even know enough to ask.

VolAgent · 11-02-2009, 07:07 PM

Originally Posted by Lyn

I like Farmers and think they are a solid company. My problem is that my office is in a rural area and they are not competitive here for homes and they don't insure farms at all. I did not know that going in, and in fact I didn't even know enough to ask.

So, FARMERS does not insure farms? Need I say more?

tozzo51 · 11-02-2009, 07:54 PM

Anyone here a Farmers agent in VA or TX? THanks I am in FL not Bama. I would consider moving there for the right opportunity. Not a big south florida fan.