Claims Question

[Guest]

Yeah, I'm done responding to your negative drivel man. Enjoy taking pot shots at everybody who still has some enthusiasm left.

I think it's great that you're optimistic about your career with Farmers, and I hope you blow em' away. There is nothing wrong with drinking a little 'Kool-Aid' when you start your career. I did it, heck, I'm still drinking my share. As to your earlier post, I'm not an indy agent, I'm captive too. Like you, I happen to LOVE my captive company and plan to be with them for a very long time. All companies have their up years and their down years, you just gotta stick with it through them all.

Don't get burnt out on the forum. We need more P&C guys and gals around here. This is a great place to exchange ideas and find new ways to market yourself.

Shoot me a PM sometime if you want to exchange some ideas. I'm not exactly a vet, but I've been doing this about 3 years and I feel like I'm doing pretty good. I'm about 3 hours north of you in Oklahoma, so our markets are not all that different.

 

[BIG RED IS BACK]

I think it's great that you're optimistic about your career with Farmers, and I hope you blow em' away. There is nothing wrong with drinking a little 'Kool-Aid' when you start your career. I did it, heck, I'm still drinking my share. As to your earlier post, I'm not an indy agent, I'm captive too. Like you, I happen to LOVE my captive company and plan to be with them for a very long time. All companies have their up years and their down years, you just gotta stick with it through them all.

Don't get burnt out on the forum. We need more P&C guys and gals around here. This is a great place to exchange ideas and find new ways to market yourself.

Shoot me a PM sometime if you want to exchange some ideas. I'm not exactly a vet, but I've been doing this about 3 years and I feel like I'm doing pretty good. I'm about 3 hours north of you in Oklahoma, so our markets are not all that different.

I drank the Farmers kool aid for 5 years, after I went IA, it took me nearly 3 years to get the kool aid outta my system, meaning burnout, frustration, desire etc.

When I started, I bled blue and red, until you see how things work, see the increases, have IA's run quotes for you and see them HALF the rate, being double the rate and having management say your production sucks, but so and so is killing it ( I will DIE thinking some agents get preferred ratings)

Hey man, if you think you can make it, some can some wont, then go for it, make a great living, Just Farmers is one of the hardest places to succeed right now.

 

[JenkinsAgency]

I think it's great that you're optimistic about your career with Farmers, and I hope you blow em' away. There is nothing wrong with drinking a little 'Kool-Aid' when you start your career. I did it, heck, I'm still drinking my share. As to your earlier post, I'm not an indy agent, I'm captive too. Like you, I happen to LOVE my captive company and plan to be with them for a very long time. All companies have their up years and their down years, you just gotta stick with it through them all.

Don't get burnt out on the forum. We need more P&C guys and gals around here. This is a great place to exchange ideas and find new ways to market yourself.

Shoot me a PM sometime if you want to exchange some ideas. I'm not exactly a vet, but I've been doing this about 3 years and I feel like I'm doing pretty good. I'm about 3 hours north of you in Oklahoma, so our markets are not all that different.

Well, good to know I read that wrong. Are you a P&C agent as well? I moved here in November to start with Farmers. We're smack in the middle of the metroplex right now, trying to figure out the best place to office.

And unless you're in some part of OK I'm not familiar with that has 6 million people in a 35 mile radius from where you're sitting, I'd say our markets are just a wee bit different... Lol
- - - - - - - - - - - - - - - - - -

Farmers is one of the hardest places to succeed right now.

Perhaps. But as I've heard about 14,000 times since starting, if I can succeed this year with Farmers, I'll be golden when it swings back the other way later. And at least I'm not one of the poor, poor souls party to a class action suit against the people who sign my folio checks.

 

[Guest]

And unless you're in some part of OK I'm not familiar with that has 6 million people in a 35 mile radius from where you're sitting, I'd say our markets are just a wee bit different... Lol

Yes, I'm a P&C agent.

Not exactly what I meant by 'our markets are similar'. The Oklahoma/Texas area is one of the toughest markets in the United States when it comes to P&C insurance. Our terrible droughts, ice storms, tornadoes, hail storms, strong winds, etc make this a very difficult and expensive area to insure. That's why so many insurers come in our area and stay a few years, then pull out of the states, its a tough market and they aren't able to handle the claims and steep rate increases and remain competitive.

It is very difficult for P&C agents in many other states to relate because the loss ratios in many other states are so much lower.

Just an example.... A few months ago I had to listen to an agent complain about his own homeowner's insurance rate being increased to $800 a year on his $300,000 home in Illinois. I laughed when I told him how much we pay down here, he couldn't believe it.

A $300,000 home easily insures for over $3,000. I had a half a million dollar home in Tulsa I tried quoting the other day, the guy was paying $6K a year and I couldn't find another company that was close to that.

It is just a different environment in this part of the country than others. You'll learn what I'm talking about as you get experience and talk to folks from other areas of the country.

 

[JenkinsAgency]

Yes, I'm a P&C agent.

Not exactly what I meant by 'our markets are similar'. The Oklahoma/Texas area is one of the toughest markets in the United States when it comes to P&C insurance. Our terrible droughts, ice storms, tornadoes, hail storms, strong winds, etc make this a very difficult and expensive area to insure. That's why so many insurers come in our area and stay a few years, then pull out of the states, its a tough market and they aren't able to handle the claims and steep rate increases and remain competitive.

It is very difficult for P&C agents in many other states to relate because the loss ratios in many other states are so much lower.

Just an example.... A few months ago I had to listen to an agent complain about his own homeowner's insurance rate being increased to $800 a year on his $300,000 home in Illinois. I laughed when I told him how much we pay down here, he couldn't believe it.

A $300,000 home easily insures for over $3,000. I had a half a million dollar home in Tulsa I tried quoting the other day, the guy was paying $6K a year and I couldn't find another company that was close to that.

It is just a different environment in this part of the country than others. You'll learn what I'm talking about as you get experience and talk to folks from other areas of the country.

I didn't realize the gap was so large. I knew the whole market here was expensive, but not by that margin. As far as the rates, I've found pretty large variability. I insured a $320k home a couple weeks ago for $1200, and then a $400k about 10 miles away for about $2500. Both within about 5 years of each other's build date. No loss history for either. That just doesn't make sense to me...

Thankfully, I have life and commercial in my toy box or else I probably wouldn't last very long.

 

[Sales71]

Yes, I'm a P&C agent.

Not exactly what I meant by 'our markets are similar'. The Oklahoma/Texas area is one of the toughest markets in the United States when it comes to P&C insurance. Our terrible droughts, ice storms, tornadoes, hail storms, strong winds, etc make this a very difficult and expensive area to insure. That's why so many insurers come in our area and stay a few years, then pull out of the states, its a tough market and they aren't able to handle the claims and steep rate increases and remain competitive.

It is very difficult for P&C agents in many other states to relate because the loss ratios in many other states are so much lower.

Just an example.... A few months ago I had to listen to an agent complain about his own homeowner's insurance rate being increased to $800 a year on his $300,000 home in Illinois. I laughed when I told him how much we pay down here, he couldn't believe it.

A $300,000 home easily insures for over $3,000. I had a half a million dollar home in Tulsa I tried quoting the other day, the guy was paying $6K a year and I couldn't find another company that was close to that.

It is just a different environment in this part of the country than others. You'll learn what I'm talking about as you get experience and talk to folks from other areas of the country.

Dubya Was wondering what captive company your with. I never saw you post who your with.

 

[InsuranceGeekNo1]

The only way to answer this question is to read YOUR policy. Some homeowners policies cover this, some don't.

 

[Accelerated]

Does typical homeowners policy cover against plumbing problems that happen from things deteriorating with time? I've got cast iron sewage drain pipe thats cracked and waste is in our celing.

It depends. How long ago did you notice the damage? Most policies (variable by state DOI regulations) specifically exclude "long term repeated leakage or seepage, lasting a period of weeks, months or years". That said, if it has been an ongoing issue, no a typical homeowners policy will not address the long term damages that should have been mitigated long ago.

If, however, the pipe recently suddenly cracked and leaked, the typical homeowners policy would address accessing the pipe for repairs as well as any subsequent damages resulting from the leak, just not repairs to the pipe itself.

 

[ginniferhadley]

Yes, if the plumbing burst and causes damage. It will cover the damage to the floor and items in your basement. For more information consult from home insurance agent in your area.

 

[BigIVU]

Depends on why and how the line failed and what YOUR policy says.