Considering Opening a Farmers Agency

Oct 29, 2015

  1. Samlc25
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    Samlc25 New Member

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    I have the capital, the know how, and the desire.

    What I would like info on is the quality of the product/Farmers from insurance rating, customer service, claims processing satisfaction, and overall reputation?

    Any help or insight on any part of running this business would be greatly appreciated.

    Thanks,

    Sam
     
    Samlc25, Oct 29, 2015
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  2. agentinsouth
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    agentinsouth Guru

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    If you have the capital and experience, why would you want to be captive? The only reason I see to not become Indy is if you don't have $ or experience.
     
  3. indienoise
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    indienoise Guru

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    Says it all.

    Why captive?
     
  4. Samlc25
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    Samlc25 New Member

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    For security

    I've never owned an agency so I may have over stepped the know how part.
     
    Samlc25, Oct 29, 2015
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  5. agentinsouth
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    agentinsouth Guru

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    Have you sold home and auto insurance before?
     
  6. xrac
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    xrac Guru

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    You took the words out of my mouth.
     
    xrac, Oct 30, 2015
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  7. Roenick27
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    Roenick27 Expert

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    Im not a Farmers Agent, but my question to you would be: What are they giving you that an Indy won't? Sure Advertising exposure, but is that for you or the company? I believe you are responsible for and own all of the IT / computers etc with them, so the support is limited IMO. Captive I want them dealing with all of that..
    As others have said, if you have experience and Capital, why go captive? I have the experience, and now hopefully the capital, and to me, Indy is the best way. I looked at some of the major captives out there and have some experience with a few of the bigger ones, and while different, the contracts all seem to have the end result.
     
  8. xrac
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    xrac Guru

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    Honestly, if I had the capital Farmer's at the bottom of my list of opportunities. Just slightly below Allstate and State Farm.
     
    xrac, Oct 30, 2015
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  9. Samlc25
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    Samlc25 New Member

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    I don't think I have the experience to go independent.

    I'm meeting with Nationwide next week to discuss their training program. I would also be interested in talking to an independent to discuss the possibility of working for them, developing my own book, and being able to take the book with me with conditions.

    How would I go about finding independents in my area of Birmingham, AL?
     
    Samlc25, Oct 30, 2015
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  10. indienoise
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    indienoise Guru

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    If you absolutely must go captive, Nationwide would be the way to go, for multiple reasons.

    But I've got to ask, if you're seriously looking into captive opportunities, what would it matter whether an IA would allow you to own your book? No captive will.
     
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