Would like to know the pros and cons of both currently working for one. Just know i like both companies and would like to know more about each. Just do not want to get an agency because my boss is pushing me to get it because he gets a bonus. I am young and want to make the best decision on this issue. Thanks.
Become an Allstate Agent or State Farm Agent.
- Thread starter WHKH
- Start date
- 11,274
I can't answer your question, but I'd start with this thread:
http://www.insurance-forums.net/for...guide-p-c-new-agents-new-agencies-t46957.html
Have you done a search of the P&C forum and the Getting Started forum?
http://www.insurance-forums.net/for...guide-p-c-new-agents-new-agencies-t46957.html
Have you done a search of the P&C forum and the Getting Started forum?
- 11,995
They are two very different programs. Allstate has a significant capital requirement that's a knockout for most folks. State Farm will have you making money faster, but you're even more locked down with them.
Why do you want to become an agent with either one?
Why do you want to become an agent with either one?
- Thread starter
- #4
- 9,744
I've worked with both. As a group, State Farm agents are sharper. YMMV.
- Thread starter
- #6
Well to me by far they are the two best companies. I know many agents in both that have done very well in Allstate and State Farm. It is very rare that i see homeowners that i quote against that do not have Allstate or State Farm. With Allstate you can buy a huge book of business. With state farm you have to rely on state farm giving you an agecny in an area that you want. Many times not having a choice about where you want to be.
- Thread starter
- #7
Well i am currently with one. Also it is very easy to grow the business with name brand recognition. Not hard to sell the product. You can start out with a book of business most times and not have to start from scratch. Many reasons i have seen what both agents make.
I am in the market where State Farm closed down Homeowners and bc Allstate can broker the homeowners in different companies and still get the Home auto discount. Allstate is killing it right now with being able to write and give that discount.
JenkinsAgency
Expert
- 41
OP, I interviewed with every major captive carrier and chose Farmers. My contract is much more favorable for the agent, provides a ton of flexibility on the commercial side and has a full suite of financial products available to you when you get securities licensed.
Allstate's model isn't accessible to brand new agents unless they have $300-400k to invest in the first year or two. With SF, you're not even really an agent until the 3 year mark. Your DM can terminate your contract on a whim, with no recourse.
A lot of people on here will preach how much better the independent agent career path is, but there are TONs of complications there, and additional headaches that make it a bad idea for people brand new to insurance...
Good luck with your search, and if you haven't looked at Farmers yet, I'd highly suggest it.
Allstate's model isn't accessible to brand new agents unless they have $300-400k to invest in the first year or two. With SF, you're not even really an agent until the 3 year mark. Your DM can terminate your contract on a whim, with no recourse.
A lot of people on here will preach how much better the independent agent career path is, but there are TONs of complications there, and additional headaches that make it a bad idea for people brand new to insurance...
Good luck with your search, and if you haven't looked at Farmers yet, I'd highly suggest it.
sarasotareverse
New Member
I also not search that. Looking for other what their response on that.
- 132
I've never been a fan of VULs, especially those from Farmers.
To be honest, you seem to be thinking that Farmers is different than State Farm or Allstate. They're really not: you're just as beholden to your DM at Farmers as you are at SF or Allstate; they're different sides of the same coin.
I started with, as my friends have come to call it, "The F Word" in early 2013. I quickly saw how they churned through agents and turned over what the newbies wrote to seasoned agents. I saw how they treated clients. I saw how they subtly encourage agents to undercut other agents and companies. I saw how, in lieu of being honest, I was told to build a better "value proposition" for equal coverages when F-Word was 3x the price.
I left Farmers in early 2014 and immediately restructured my sales process. Instead of conflating the value of a brand, I can talk about the value of flexibility and build a program around a client's needs.
One more thing: I got to see Farmers shut down their agent forums when agents were complaining about how the company treated them.
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