Farmers Agent

[iprotect]

If I were to become a Farmers agent and decided to move out of state in a few years what would happen to my BOB? Lets say I wanted to become a Farmers agent in the new state.

*****please don't respond with advise to NOT become a Farmers agent. I have read all the horror story posts.

Thanks in advance!

 

[djs]

Somebody may know better than me, but I think you have 2 options

- Sell your book back in the original state, move and start over.
or
- Be dual licensed / dual appointed and retain your original book.

I'm sure in the second case Farmers would have to approve this setup, but I have known a few Farmers agents who worked in multiple states, though normally its neighboring states. I also know a few who can't get approved in other states they are licensed in, so not sure I know the rules well.

Dan

 

[F150]

dont become a farmers agent....


Who says you cant have the business in 2 states? many people do, thats why they have non resident licenses....

The bigger question is, will farmers allow you to do this..

Whatever you do, better get it in writing from farmers

 

[mattt]

If you are moving out of state and don't plan on putting at least 5 years into farmers do not do it. If you haven't worked In The industry, work for an Independent agent and learn the business. Then once u move see what your options are. I have a feeling once u do that, farmers won't be an option for u in the future.

 

[iprotect]

Thanks for the responses! Keep em' coming.

I worked as a producer for a Farmers agent for 6 months a few years back. I sold policies from the day I started until the day I left. (Did not like the office I was in)
Farmer's has the easiest point of entry in the business. I think it helps when you are getting started to have a "name" behind you. I have been in sales for over 30 years and that is 90% of this business. I have owned businesses and I fully understand what it takes to build an agency. I have NO desire to work as a producer and work my butt off to build someone else's BOB. If I work for Farmers even a few years, I have options at the end that will make my efforts worth it.
I have NO interest in doing companies like Insurance Noodle where they are the appointed one and you are essentially just a producer. Getting appointed on your own is not easy and even a few years with Farmers will go a VERY long way should I decide to do that in the new state.