Anyone working for farmers or got out of the contract?

[insurance1822]

its very rarely the case that an insurer wants to lose market share in a profitable area. If it's in "Hail Alley" could very well be on purpose.

Another scenario. Farmers isn't putting on new reserve Agents in Texas anymore. Rates are increasing 25%. Am I scared about not being competitive? Absolutely not and the reason is if Farmers is taking increases, so is everyone else. Especially with companies as large as State Farm and Allstate. There may be newer companies in Georgia that are coming in under market price but it will even out reletively shortly as it Always does.

Also insurance rates are cyclical. Meaning there are plenty of consumers on a higher rate book that can be stolen from another carrier. Need to increase quote volume to find those consumers.

Congrats to your Farmer's recruiter. It is such a shame you're a captive. Whatever you make now, you'd make 30% more as an IA

 

[marindependent]

Sounds like, yet another reason.... to stay away from Farmers Insurance.

Like we all needed another reason.

 

[indienoise]

its very rarely the case that an insurer wants to lose market share in a profitable area. If it's in "Hail Alley" could very well be on purpose.

Another scenario. Farmers isn't putting on new reserve Agents in Texas anymore. Rates are increasing 25%. Am I scared about not being competitive? Absolutely not and the reason is if Farmers is taking increases, so is everyone else. Especially with companies as large as State Farm and Allstate. There may be newer companies in Georgia that are coming in under market price but it will even out reletively shortly as it Always does.

Also insurance rates are cyclical. Meaning there are plenty of consumers on a higher rate book that can be stolen from another carrier. Need to increase quote volume to find those consumers.

Of course everyone is taking rate, or eventually will. Actually, I have one carrier who hasn't taken rate this year, and there's no talk of them doing so - and they just had their big meeting for the year. For those who do have rate increases, the difference is the decimal placement. 25% vs. 2.5% is kind of a big deal, and a larger indicator of each carrier's position in the marketplace.

 

[todd02]

Of course everyone is taking rate, or eventually will. Actually, I have one carrier who hasn't taken rate this year, and there's no talk of them doing so - and they just had their big meeting for the year. For those who do have rate increases, the difference is the decimal placement. 25% vs. 2.5% is kind of a big deal, and a larger indicator of each carrier's position in the marketplace.

Bingo. Insurance companies aren't in the DFW area to make money on Home insurance. They are there for Auto. But the increase in frequency and severity has caused major problems in underwriting. So the larger carriers like State Farm, Farmers and Allstate are getting killed in Hail Alley.

Ins1822... Happy owning my Farmers Agency but I'm an absentee Agent now. Have staff running it as we launch the software. Thanks for your deep concern for my welfare.

 

[Laur818]

its very rarely the case that an insurer wants to lose market share in a profitable area. If it's in "Hail Alley" could very well be on purpose.

Another scenario. Farmers isn't putting on new reserve Agents in Texas anymore. Rates are increasing 25%. Am I scared about not being competitive? Absolutely not and the reason is if Farmers is taking increases, so is everyone else. Especially with companies as large as State Farm and Allstate. There may be newer companies in Georgia that are coming in under market price but it will even out reletively shortly as it Always does.

Also insurance rates are cyclical. Meaning there are plenty of consumers on a higher rate book that can be stolen from another carrier. Need to increase quote volume to find those consumers.

They are phasing out the traditional route altogether! I was the second to last that theu hired this year and DM can only enlist 3 or 4 more next year as opposed to the 3 or 4 that they enlisted since August.

Reasoning is they want to invest more in former agents, also I think they save more money that way!

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Congrats to your Farmer's recruiter. It is such a shame you're a captive. Whatever you make now, you'd make 30% more as an IA

What is an IA? I have not heard of an IA for insurance!

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I am looking to get out of my Farmers contract. I am tired of their over priced policies and their Milestones requirements. I would like to know if there are any people who were able to get out of the contract and still go sell insurance independently. I know I can quit, but then I will not be allowed to sell for 3 years. If I get terminated, will my contract be null and void?

I just signed the contract a month and a half ago... you cannot solicit current clients, for a year, but I think the leads are okay. Read over your contract again, I didn't think I saw anything about 3 years.

 

[xrac]

...........What is an IA? I have not heard of an IA for insurance!..............

IA = independent agent.