Looking for Advice: Liberty Mutual Vs. Farmers Agent

[jas789]

Read the threads on here about Farmers and you will have the answer.

Mostly disgruntled agents that had little desire to work and build a business. They wanted to do almost nothing and blame the company raising rates for them not writing business. I'd take all of that with a grain of salt. I've been a Farmers agent for five years and my only regret is not doing it sooner. I love what I do and love this company. We have the best overall package in the industry. I feel there are advantages and disadvantages to every company. The biggest difference is what you bring to the table and whether or not this culture or the one on the other side is the best fit for you individually.

 

[xrac]

Re: Looking for Advice: Liberty Mutual Vs. Fzrmers Agent

Mostly disgruntled agents that had little desire to work and build a business. They wanted to do almost nothing and blame the company raising rates for them not writing business. I'd take all of that with a grain of salt. I've been a Farmers agent for five years and my only regret is not doing it sooner. I love what I do and love this company. We have the best overall package in the industry. I feel there are advantages and disadvantages to every company. The biggest difference is what you bring to the table and whether or not this culture or the one on the other side is the best fit for you individually.

You see I do not believe that at all. First, I had a very good friend locally who was a Farmers agent for a number of years. He won a lot of awards and was struggling to survive after 7 or 8 years. He went INDY and never looked back. Recently, I had a waiter at a restaraunt that I struck up a conversation with. This kid was a waiter part time and a Farmers Agent during the day. Not meaning bad by this kid but if Farmers would hire him they will hire anyone. As long as you don't have a bunch of unpaid bills or a felony I think you are hired. What about the E&O claims Farmers encourages against their own agents?

Should I become a Farmer's Agency Owner?

My personal opinion is anyone will come to regret pursuing a career with Farmers, State Farm, or Allstate under the current contracts.

Jas789, you say you have been a Farmers agent for five years is that really the case?

 

[nyc2phi]

Re: Looking for Advice: Liberty Mutual Vs. Fzrmers Agent

So here is my take as an LM agent..

This comes down to what you are looking for and your experience.

LM is a great place to start in the insurance industry. Salary, full benefits, competitive bonus and comm structure. This is something you will not get anywhere else as a P&C producer. The catch is you basically forfeit all renewal commissions which is why people get into p&c in the first place. There is no opp to own your own book hire you own employees and the next step up is a mangers salary based job. You can make really good money as a producer here but you have to really sell year after year like a mortgage broker or realtor would.

Farmers is more of you regular captive mom and pop shop like State Farm, Allstate, NW, ect. I don't know much about these since I have only worked on the LM side so someone else would have to speak for Farmers.

Hope this helps big guy.

 

[Aram Fingal]

Re: Looking for Advice: Liberty Mutual Vs. Fzrmers Agent

I would avoid any company where there is a possibility that after working your butt off for them for 3 years you leave owing them $50,000.

If you don't have the money (or knowledge) to start an independent office, I would recommend the LM direction. At least if you don't make it, you won't be in debt.

Another option to consider would be MetLife Auto & Home. They give you a salary for the first couple of year (you have to get through a probation first, but it's not very hard to do). They also reimburse some of your expenses as long as you meet the minimums. You will have to pay some of your own expenses though. But you get renewals, unlike LM. It might be a good middle ground for you.

 

[Philly]

Re: Looking for Advice: Liberty Mutual Vs. Fzrmers Agent

I know four or five Farmer Agents looking to leave soon. I would say stay away from them!

 

[jas789]

Re: Looking for Advice: Liberty Mutual Vs. Fzrmers Agent

You see I do not believe that at all. First, I had a very good friend locally who was a Farmers agent for a number of years. He won a lot of awards and was struggling to survive after 7 or 8 years. He went INDY and never looked back. Recently, I had a waiter at a restaraunt that I struck up a conversation with. This kid was a waiter part time and a Farmers Agent during the day. Not meaning bad by this kid but if Farmers would hire him they will hire anyone. As long as you don't have a bunch of unpaid bills or a felony I think you are hired. What about the E&O claims Farmers encourages against their own agents?


My personal opinion is anyone will come to regret pursuing a career with Farmers, State Farm, or Allstate under the current contracts.

Jas789, you say you have been a Farmers agent for five years is that really the case?

Every major carrier in the country has a site dedicated to bashing the company. Your link is not different than a myriad of others bashing every conceivable company out there. In any business you have the happy and the not so happy all the way to the down right pissed off. Again, I dismiss your attempt to bash the company.

Am I seriously a Farmers agent? Why in the world would anyone lie about this? I will have 5 years with the company in March of this year. My name is John Salamone and I live and office in little bitty Jasper, TX. We are a town of about 8500 people. I started from absolutely ZERO with NO insurance experience, and have grown to over 2600 policies currently. If you don't believe me, I really don't care. Go to your Farmers "friend" and have them pull my information and my numbers and see if what I am saying is the truth. My agent ID is 19-56-12. I LOVE this company and LOVE my career. Why is it so hard to believe that someone can work at Farmers, SF, or Allstate and ENJOY what they do? I feel as though I have the best contract in the industry and tremendous company support behind me.

I'd really like to know the FACTS about the allegations you made of the company encouraging claims against their agents. Unless this happened to you, or you were actually there to witness this, it is just gossip and innuendo.

Lastly, every company in the world makes great and not so great hiring decisions. This waiter that you referenced may fall into either of these categories. Perhaps he was hired because he has a great connection with the person that hired him. Neither of us know. The bottom line is, Farmers is great for some and not for others. To make the blanket statement that "ANYONE will come to regret pursuing a career with Farmers..." is myopic at best.

 

[Canureallysale]

Re: Looking for Advice: Liberty Mutual Vs. Fzrmers Agent

I have recently left Farmers and for the poster jas789 you may be in a good spot where you can write a lot and have good rates. Everywhere that is not the case Farmers is going through a lot of growing pains trying to get bigger is taking it's toil on the agency force and Farmers is fine with the idea of trimming the fat so to speak and terminating contracts and making it harder for new agents to get going. With that said it is a good company when your in the right spot with the right people at the right time and lots of agents have not hit that target; part their own fault.

Any captive agent has to totally buy in to that companies plan and play only by that set of rules to get the most out of their contract. In some cases companies sale you on the idea that they are the best thing smoking and agents get the idea that with ________ commisions will rain and when they don't they get upset. More than a few IA's have had rough times where they could not write anything for anybody and had to tough it out and change marketing plans, areas, or products they offer. Captives have to worker harder to find that niche that the company wants for their customer then pray that the price is in range of others.

In my case Farmers made it so restrictive and pricewise when I found the right customer they want the price was to high, just not a good fit for me, right now.

 

[xrac]

Every major carrier in the country has a site dedicated to bashing the company. Your link is not different than a myriad of others bashing every conceivable company out there. In any business you have the happy and the not so happy all the way to the down right pissed off. Again, I dismiss your attempt to bash the company.

Am I seriously a Farmers agent? Why in the world would anyone lie about this? I will have 5 years with the company in March of this year. My name is John Salamone and I live and office in little bitty Jasper, TX. We are a town of about 8500 people. I started from absolutely ZERO with NO insurance experience, and have grown to over 2600 policies currently. If you don't believe me, I really don't care. Go to your Farmers "friend" and have them pull my information and my numbers and see if what I am saying is the truth. My agent ID is 19-56-12. I LOVE this company and LOVE my career. Why is it so hard to believe that someone can work at Farmers, SF, or Allstate and ENJOY what they do? I feel as though I have the best contract in the industry and tremendous company support behind me.

I'd really like to know the FACTS about the allegations you made of the company encouraging claims against their agents. Unless this happened to you, or you were actually there to witness this, it is just gossip and innuendo.

Lastly, every company in the world makes great and not so great hiring decisions. This waiter that you referenced may fall into either of these categories. Perhaps he was hired because he has a great connection with the person that hired him. Neither of us know. The bottom line is, Farmers is great for some and not for others. To make the blanket statement that "ANYONE will come to regret pursuing a career with Farmers..." is myopic at best.

It sounds like you have drank the koolaid and are doing well. I congratulate you but what you experience does not seem to be the same in all parts of the country. What is your take on the UFAA lawsuit?

UFAA United Farmers Agents Home - DRA - FIG - Farmers Insurance

 

[jas789]

I have recently left Farmers and for the poster jas789 you may be in a good spot where you can write a lot and have good rates. Everywhere that is not the case Farmers is going through a lot of growing pains trying to get bigger is taking it's toil on the agency force and Farmers is fine with the idea of trimming the fat so to speak and terminating contracts and making it harder for new agents to get going. With that said it is a good company when your in the right spot with the right people at the right time and lots of agents have not hit that target; part their own fault.

Any captive agent has to totally buy in to that companies plan and play only by that set of rules to get the most out of their contract. In some cases companies sale you on the idea that they are the best thing smoking and agents get the idea that with ________ commisions will rain and when they don't they get upset. More than a few IA's have had rough times where they could not write anything for anybody and had to tough it out and change marketing plans, areas, or products they offer. Captives have to worker harder to find that niche that the company wants for their customer then pray that the price is in range of others.

In my case Farmers made it so restrictive and pricewise when I found the right customer they want the price was to high, just not a good fit for me, right now.

Let's all be honest here. I live in Texas, in a rural community, less than 100 miles from the coast. It's no picnic here either. Our rates are as high here as they are any place in the state. We have been able to grow because (I feel) we bring value to the table. I also understand that we (Farmers) are not alone in the need to take rate. I embrace this movement. In fact, I educate my customers on why you WANT to be with a company that will be bold and make the painful move of taking rate when it is needed. If all I have to sell is rate, then what do I have to differentiate myself in times like this? We as agents have to bring something to the table as well.

I don't see anything wrong with someone leaving the company for whatever reason they choose. I wish you the best of luck and the greatest success in your future endeavors.

 

[b61mack]

Liberty, hands down!