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I have a friend that decided to go the Farmers route. He visited my office and I showed him how the independent insurance agency works. After seeing how our agency worked he decided to go the independent route.
Becoming a Farmers Agent - Buying a BoB
- Thread starter NewAgent01
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I have a friend that decided to go the Farmers route. He visited my office and I showed him how the independent insurance agency works. After seeing how our agency worked he decided to go the independent route.
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Please re-read this entire thread and you will have your answer. The issue of getting carrier help has been addressed, what you want is not available, however if you are willing to pay your dues in several ways mentioned, this option may be available in 3 to 5 years of experience. Starting an IA would be like a someone who has got 4 year degree, want to forgo medical school and open up a doctors office. You need to know what you are doing, there is a lot of great input in this thread and if you read it, you will head in the right direction. If you try to open up an IA, you will hit all kind of road bumps and even face E&O issues, that is if you can get E&O.
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The Cluster/Independent Agency is not an option for those without experience, getting into business is not for everyone, being in business is not a cake walk, you really need to evaluate if this opportunity is right for you.
Starting out as an indepent agent/book owner would be difficult, but getting your foot in an independ agencies door as an entry-level producer or csr (good way to learn) is not impossible.
- 1,473
Just do a few years if you can. They might no keep you as well if you are not producing for them with the big name of farmers behind you.
Today was a pretty monumental day for me as end my 4 years and 1 month career with Farmers. I am grateful for the experience, but so happy to embark on becoming a true insurance professional as an Independent Agent. I have pretty much won all the awards there is to win from (Toppers -Championship), however it is in my best to leave since I know representing 1 carrier with 1 pricing is pretty much what Fred Flintstone would do. All the post here are true in terms of how much or how less uncle farmers care for its agent.
Im a Farmers Agent, 4th year, making a lot of money. A part of me wishes I went independent until I realize probably half of my clients I sold paid more than they were originally paying and went with the Farmers brand name. Plus becoming an independent would take a lot of start up capital I don't have.
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AgencyEquity.
You hit the nail on the head on the getting the experience, pay one's dues before thinking about IA for sure!
I'm not an Allstate agent any more but my policies are still with an Allstate agent. Why, because I know/trust their judgement, policy & if I need to file a claim, I know the process. Peace of mind I guess is why I stay. Looked at others, but...haven't really looked hard enough to change. Thus why Allstate agents' clients with more than 5 years typically have greater than 92% retention on their policies. As I''m sure State Farm, Farmers, etc. do also.
You hit the nail on the head on the getting the experience, pay one's dues before thinking about IA for sure!
I'm not an Allstate agent any more but my policies are still with an Allstate agent. Why, because I know/trust their judgement, policy & if I need to file a claim, I know the process. Peace of mind I guess is why I stay. Looked at others, but...haven't really looked hard enough to change. Thus why Allstate agents' clients with more than 5 years typically have greater than 92% retention on their policies. As I''m sure State Farm, Farmers, etc. do also.
