Quitting Farmers, I Want to Become Independent. How?

[PitchMan]

In CA..
Hello all..I have my own Farmers agency made up of myself, two producers and a secretary. We write p&c and a little life business, very little commercial.
I've had my office for just over a year and I'm fed up with Farmers.
Where do I start to begin to put together a independent agency?
I know I need to notify the DOI and quit Farmers before really talking with other carriers. But what carriers should I apply with to fill our niches? What is the process? I don't have a book of business; just a relatively productive office.
I'm looking for specific directions. I'm not to proud to admit that I really don't know where to begin.

Thanks!

 

[thenextlevel]

In CA..
Hello all..I have my own Farmers agency made up of myself, two producers and a secretary. We write p&c and a little life business, very little commercial.
I've had my office for just over a year and I'm fed up with Farmers.
Where do I start to begin to put together a independent agency?
I know I need to notify the DOI and quit Farmers before really talking with other carriers. But what carriers should I apply with to fill our niches? What is the process? I don't have a book of business; just a relatively productive office.
I'm looking for specific directions. I'm not to proud to admit that I really don't know where to begin.

Thanks!

Although I can't offer any advice to starting an independent agency, I would love to chat with you about how you got started with Farmers. Let me know if you have a couple spare minutes.

 

[NinjaNic]

Farmers has niches? just kidding--good luck on going independant--the good ones always do.

 

[Lyn]

In CA..
Hello all..I have my own Farmers agency made up of myself, two producers and a secretary. We write p&c and a little life business, very little commercial.
I've had my office for just over a year and I'm fed up with Farmers.
Where do I start to begin to put together a independent agency?
I know I need to notify the DOI and quit Farmers before really talking with other carriers. But what carriers should I apply with to fill our niches? What is the process? I don't have a book of business; just a relatively productive office.
I'm looking for specific directions. I'm not to proud to admit that I really don't know where to begin.

Thanks!

1. Find out what your contract value is and then how much you will owe back in subsidy to determine what it will cost you.

2. Find some warehouses such as Superior Access, Iroquois, Insurance Noodle, etc., so that you can continue to write business.

3, Understand that your contract has a "will not compete" clause that probably says you will not sell to ANY customer that currently has Farmers Insurance for a period of one year from date you leave Farmers.

4. Find someone in your area that has already gone through the process so that you have someone to go to with questions.

5. Understand that you will be truly starting over.

 

[PitchMan]

1. Find out what your contract value is and then how much you will owe back in subsidy to determine what it will cost you.

2. Find some warehouses such as Superior Access, Iroquois, Insurance Noodle, etc., so that you can continue to write business.

3, Understand that your contract has a "will not compete" clause that probably says you will not sell to ANY customer that currently has Farmers Insurance for a period of one year from date you leave Farmers.

4. Find someone in your area that has already gone through the process so that you have someone to go to with questions.

5. Understand that you will be truly starting over.

I understand all you mentioned. Thank you.
I have never used the subsidy..the money is sitting in a savings account I've known all along I would make this move and I think my contract values will be very close to what I've been paid anyway so I'm not real worried about that. I'm more concerned about which carriers to pursue, how to pursue them and whether or not I will get appointments with the right carriers that will fit the type of business we write. I've heard it can be tough to get appointed coming out of a captive situation with no book of biz.

 

[OCinsurance]

Regarding carrier, it took me many years to obtain direct appointments. There are several options for accessing markets that you need. You can consider wholesalers or working with another agent that has appointments that would suit your customers. I started from zero in 2004, so feel free to write me if I can offer any insights.

 

[PEL Racing]

I have been considering going to work for Farmers,but am curious what is making you want to leave??

 

[PitchMan]

I have been considering going to work for Farmers,but am curious what is making you want to leave??

Well, in a nutshell...and I'm sure the same story that has been told here a thousand times.
I can almost never be competitive for a single line policy...(just a home or just a car or cars, just a life policy)
You will almost never be able to write a realistic auto policy to a household with tickets or claims..if you are able to sucker a client it won't be long before they realize they are getting reamed and go elsewhere. Being captive traps you..obviously.
If, I mean WHEN Farmers raises their rate or decides not to write business..say new fire policies in Southern, CA like Allstate did I have no options. The ideal Farmers client that you can always help must be a fireman, teacher, judge or attorney, own a home, have multiple autos, a life policy, no tickets or claims and no young drivers in the household. If you can continuously find this needle in the haystack you'll make a mint writing for Farmers.
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Oh yeah...and unless you're targeting the 55-75 year old client I have found the Farmers reputation or brand actually works against you..at least in Southern, CA

 

[Carlos Gil]

Where are you located in in CA?
What are the income levels in the area you plan to do business in?
What are the demographics?

If you can answer these questions I can provide you some guidance.

 

[arkansaslr]

1. Find out what your contract value is and then how much you will owe back in subsidy to determine what it will cost you.

2. Find some warehouses such as Superior Access, Iroquois, Insurance Noodle, etc., so that you can continue to write business.

3, Understand that your contract has a "will not compete" clause that probably says you will not sell to ANY customer that currently has Farmers Insurance for a period of one year from date you leave Farmers.

4. Find someone in your area that has already gone through the process so that you have someone to go to with questions.

5. Understand that you will be truly starting over.

what part of arkansas ??? I have been looking for someone to link up with in the business outside of my area...... email me

[email protected]

maybe we can help one another