Farmers Insurance

[AJS]

Why are you bailing? I have a meeting with them next week and am looking for any new information I can get on the company and opportunity.

I am asking wondering if it was more a personal decision or is the company that bad to work with?

All of the reading I have done here so far leads me to belive that the main things that can make or break the experience are:

Being financially stable with no debt to weather the first year.

That the DM is not a stroke and can actually help you to develop.

The company has to be competitive on rates in your area.

If anyone thinks I am missing anything please let me know.

About you bailing I have read on this forum that if you are in a right-to-work state the non-compete does not apply. Hope that helps.

 

[rc2391]

Has anyone bailed from Farmers?? I'm asking because I'm thinking of bailing and not sure what to expect as far as the contract goes.

Thanks,
RC

 

[superfly33]

Has anyone bailed from Farmers?? I'm asking because I'm thinking of bailing and not sure what to expect as far as the contract goes.

Thanks,
RC

Are you a Reserve Agent or Career Agent?

Farmers is not known to be competitive in a lot of markets so I wouldn't bet on that. My ex-DM's MO is to upsell prospects on coverages so we can justify the extra cost.

 

[rc2391]

I am a career agent. I started with them Feb. 2009 and turned career in April 2009. Basically the reason I am thinking of bailing is because we are very uncompetitive in home and auto. My home quotes are always $500 or more to what someone is currently paying. My DM says I have to sell on value. Well, guess what these people are not buying on value they are looking to save money. I did not become an agent with a multi-line company to be able to only sell one line which is auto thru Bristol West. I want to be able to cross sell all lines. I have been doing isurance for the past 5 1/2 - 6 years and I know people that only have 1 line of insurance with you don't stay. People with multi-policies are more likely to stay with you for a longer period of time.

I am not saying that Farmers is a bad company but maybe not a match for me.

I still have not bailed...and just wondering what to expect if I do??

Thanks,
RC

 

[superfly33]

That's a hard question to answer because a lot of variables are in play. I would suggest you do a search for Farmers in these forums and you will find a lot of Farmers agents in your shoes trying to make the same decision.

I was once a Reserve Farmers agent but quickly found out that they are uncompetitive in P&C and especially Life insurance so I bailed. The insurance profession can be a long and prosperous career so I wouldn't limit myself just because I have a few months invested with Farmers.

 

[rc2391]

I did it!! I gave my notice and it's the best decision I made...

 

[superfly33]

So much in life is about knowing what you want and going for it. Good luck out there!

 

[Lyn]

I did it!! I gave my notice and it's the best decision I made...

I'm also considering bailing. What were the consequences for you. I know that I have to pay back 1/2 of the subsidy payments, but what else?

 

[rc2391]

I'm also considering bailing. What were the consequences for you. I know that I have to pay back 1/2 of the subsidy payments, but what else?

Well, first he tried talking me out of it cuz the DM is resonsible for 1/2 the subsiy as well. So far from what I was told by my DM is that I have to pay back 1/2 of the subsidy given to me but that he had to check to see what my contract value is as that would be subtracted from what I owe. I gave a 30 day notice and I have to see if they accept it because the contract states 90 days. I'm hoping they accept my 30 days to not have to deal with them anymore.

 

[Lyn]

Why are you bailing? I have a meeting with them next week and am looking for any new information I can get on the company and opportunity.

I am asking wondering if it was more a personal decision or is the company that bad to work with?

All of the reading I have done here so far leads me to belive that the main things that can make or break the experience are:

Being financially stable with no debt to weather the first year.

That the DM is not a stroke and can actually help you to develop.

The company has to be competitive on rates in your area.

If anyone thinks I am missing anything please let me know.

About you bailing I have read on this forum that if you are in a right-to-work state the non-compete does not apply. Hope that helps.

I like Farmers and think they are a solid company. My problem is that my office is in a rural area and they are not competitive here for homes and they don't insure farms at all. I did not know that going in, and in fact I didn't even know enough to ask.