New State Farm Agent

[indienoise]

Mark- just a question- I have usually done smaller commercial accounts, and actually haven't focused on them at all for quite a few years... What does a $10k plus commercial account look like? (industry/vertical/size?)

Nearly any blue collar or service business with 4+ employees should be in that range or above...restaurants, contractors, lawn care, etc by the time You package GL or BOP, comp, and auto, or garage/auto dealers with GK, comp, etc...you might be surprised.
Dunno what SF's appetite looks like though.

 

[Markthebroker]

I left State Farm because I could not compete with accounts like that. There may be exceptions, but basically almost every time I see a captive carrier, I know I am going to absolutely destroy them on apples to apples premium comparison for commercial.

 

[Insurance Dog]

SF lost what $8 Billion on auto insurance last year, what do you think that will do to rates?
RUN RUN RUN RUN

 

[The Colonel]

rate increases = pay raises for their agents?

 

[indienoise]

rate increases = pay raises for their agents?

That 15% increase to the low commission SF agents get is peanuts compared to attrition since they have no alternative markets for the clients who start shopping.

I know I've been talking to a lot of state farm customers the past few weeks.