State Farm Vs Allstate Sales Rep Job

[picard3420]

Hey guys/gals, new to the forum. I've recently been in contact with both State Farm and Allstate agents and have gotten very similar offers from both. A SF agent offered me a base of 31K, which is nice but the commission is what I'm more focused on. The Allstate agent is local and offered $13 an hour with 8% commission. The biggest thing for me is that the SF agent is literally opening his doors September, 1st which I think would be an awesome learning/training experience for me but the job would require me to move to Baton Rouge (about 2 hours away from my hometown) where I don't have the relationships (i.e. real estate agents, mortgage loan originators etc.) that I have in my hometown which I believe could be beneficial. I was also told that SF is less competitive in terms of homeowner insurance but don't know how true that is. At this point ANY input/advice would be greatly appreciated.

Thanks!

 

[entrep1776]

I have SF on my house. I shopped it extensively USAA, two independent agents. I'm in Midwest. SF was lowest price.

 

[VolAgent]

Home and auto insurance are both local and cyclic. A company may be competitive in one area but not another, how wait long enough and it will probably reverse.

Both State Farm and Allstate are captive, so you can only sell for that company. If you are caught in a period where the company is uncompetitive then it may be a difficult time.

Your relationships are invaluable. They can quickly help you get up to speed. I would actually focus on that more than who is or is not competitive at this time.

 

[indienoise]

It's my understanding that homeowners in LA is a volatile market. I wouldn't go captive.
Also price isn't everything. Literally EVERY state farm Dec page I've seen, has been criminally underinsured, and if state farm ever calls these agents on their bluff, it's not gonna be SF paying claims but the agent's E&O.
If you are focusing on home in a coastal state, ESPECIALLY FL, LA, or SC, take the training for a year or two then find an IA to work for. Or just find an IA willing to train you.
Don't pull up roots and move for a captive agency job. Especially if you are new to insurance and not sure you'll make it, and if you have referral sources where you are now.

 

[NoMore]

I did 12 years as a TM for 3 different Agents. 2 of them have since retired and the last one came in as a TICA, kept me long enough to keep the good clients and then pushed me out. I say stay close to home where you have relationships and contacts and get the experience and then go independent. Every company has pro's and con's as far as policy and coverage. State Farm is a whole nother animal when it comes to Homeowners. If you know how to write them correctly, to most it would look like someone is under insured but there are things built in to a SF Homeowners policy that other companies dont provide (this being in a total loss situation). Whichever you choose make it a point to learn about your competitors policies. Ask for the policy booklet from your customers that switch to you. Read them, learn them and then when you have some experience under your belt GO INDEPENDENT!

 

[BADTROUT]

... I learned that independent agents didn't know nearly as much as we did as captive agents... I learned the truth when I became independent and it was eye opening... I'm grateful to have seen the other side as a captive but I thank God everyday I'm independent now.

 

[mauldinins73]

... I learned that independent agents didn't know nearly as much as we did as captive agents... I learned the truth when I became independent and it was eye opening... I'm grateful to have seen the other side as a captive but I thank God everyday I'm independent now.

I'm curious to know what you mean by "independent agents didn't know nearly as much as we did as captive agents".

 

[Markthebroker]

"... I learned that independent agents didn't know nearly as much as we did as captive agents... I learned the truth when I became independent and it was eye opening... I'm grateful to have seen the other side as a captive but I thank God everyday I'm independent now."

"I'm curious to know what you mean by "independent agents didn't know nearly as much as we did as captive agents"

I am also curious to know what this means. By curious I mean suspicious. And by suspicious I mean I completely disagree.

As many people here have mentioned, Allstate may be the the best one year, then Farmers, then State Farm, and on and on. One year one will be on top. Then the next another will be the most competitive, and on and on. I have watched in my area State Farm was the most competitive, and Allstate was the least. Now Allstate is the most, and State Farm is the least.

For what it's worth, I worked for State Farm for a little while, then went independent. I went the same route as many others. Like the others, I was very happy I did.

 

[BADTROUT]

Simply meaning we were indoctrinated on the captive side... THEN I learned the truth... meaning it was all a lie of ignorance. Being an Indy, I've learned 10 fold what I knew as a captive.

 

[10X]

And when you leave, I believe the captive agency keeps all of your remaining commissions? At 8% commission, that probably won't be that much.