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Started By
Message
Has anyone on here worked for Farmers Insurance?
Posted on 3/29/17 at 11:10 am
Posted on 3/29/17 at 11:10 am
Was contacted by one of my good friend's dads from high school recently regarding a possible job opportunity as a Farmer's Insurance Agent.
It all sounds great, but at the same time it kind of sounds like a pyramid scheme in some ways.
Promises of solid salary (Like $60K-$75K in year 1, then $100K+ after year three) and what not, but you're essentially buying the business from Farmers, or that's at least how they put it with me.
I went in for an interview where I heard all of this and was wondering if anybody on here can give any information regarding working there?
I have a job currently so I'm not hurting for work, but I am looking to relocate so this is why I ask.
It all sounds great, but at the same time it kind of sounds like a pyramid scheme in some ways.
Promises of solid salary (Like $60K-$75K in year 1, then $100K+ after year three) and what not, but you're essentially buying the business from Farmers, or that's at least how they put it with me.
I went in for an interview where I heard all of this and was wondering if anybody on here can give any information regarding working there?
I have a job currently so I'm not hurting for work, but I am looking to relocate so this is why I ask.
8
Posted on 3/29/17 at 11:11 am to McCaigBro69
You either want to be a sales man or you don't
Posted on 3/29/17 at 11:12 am to McCaigBro69
for farmers or an agent?
if for farmers direct, I can give you some incite
if for farmers direct, I can give you some incite
This post was edited on 3/29/17 at 11:13 am
Posted on 3/29/17 at 11:13 am to NYCAuburn
quote:
agent?
It is as an agent.
Posted on 3/29/17 at 11:15 am to fareplay
quote:
You either want to be a sales man or you don't
I have no problem selling, that's actually what I'd prefer to do, I googled it and of course what is likely the worst 20 stories of all-time regarding people who have worked there came up, but it's made me skeptical.
I feel like it's a respected brand in insurance so I don't see how it could be some kind of scam, but I'd rather ask then find out later that it blows dick financially.
Posted on 3/29/17 at 11:17 am to McCaigBro69
What do you need to do? Just take some test then you can sell?
Posted on 3/29/17 at 11:18 am to McCaigBro69
A few things you'll want to consider. Are they captive agents, meaning they can only sell for Farmers?
Do they own the book of business or do you? If they do, then they can take it away from you at any time and you have nothing to show for all of your hard work and investment.
Do they require you to invest in the business? open your own office?
Is this a producer job or an actual agency?
Do they own the book of business or do you? If they do, then they can take it away from you at any time and you have nothing to show for all of your hard work and investment.
Do they require you to invest in the business? open your own office?
Is this a producer job or an actual agency?
Posted on 3/29/17 at 11:18 am to McCaigBro69
quote:
It is as an agent.
no experience with an agent direct, but would assume its like every other one. Be prepared to be on the phones and network a lot for business.
Posted on 3/29/17 at 11:19 am to McCaigBro69
My only experience with Farmers was when I graduated college and they offered me a Claims Adjuster job in New Orleans after Katrina...no thanks 
I'm sure you've thought about this, but if you move, will you have the client base to make sales?
quote:
looking to relocate
I'm sure you've thought about this, but if you move, will you have the client base to make sales?
Posted on 3/29/17 at 11:20 am to DCtiger1
quote:
Are they captive agents, meaning they can only sell for Farmers?
Yes.
quote:
Do they own the book of business or do you? If they do, then they can take it away from you at any time and you have nothing to show for all of your hard work and investment.
I am not sure about this, I will have to ask.
quote:
Do they require you to invest in the business? open your own office?
Yes.
quote:
Is this a producer job or an actual agency?
I'm assuming it's the actual agency since I was interviewed by a district manager at the district office.
Posted on 3/29/17 at 11:21 am to Tdot_RiverDawg
quote:
will you have the client base to make sales?
It's back in my hometown so I at least like to think I would
Posted on 3/29/17 at 11:21 am to McCaigBro69
quote:
district manager at the district office
a farmers manager or an agency manager?
Posted on 3/29/17 at 11:23 am to NYCAuburn
quote:
a farmers manager or an agency manager?
On the Farmers website it says his position is a Famers Insurance district manager.
I don't really know the difference between the two you mentioned, so I'm trying to answer this as best as possible.
Posted on 3/29/17 at 11:24 am to McCaigBro69
I wouldn't expect to make much money the first 3-5 years.
would you be starting from scratch or would they be giving you a piece of existing business that you would collect renewals on?
Scratch agency is tough and you are going to need to poor a ton of resources and hours into marketing.
would you be starting from scratch or would they be giving you a piece of existing business that you would collect renewals on?
Scratch agency is tough and you are going to need to poor a ton of resources and hours into marketing.
Posted on 3/29/17 at 11:26 am to McCaigBro69
quote:
On the Farmers website it says his position is a Famers Insurance district manager.
I don't really know the difference between the two you mentioned, so I'm trying to answer this as best as possible.
okay this sounds like direct for farmers then they want you to setup your own agency after a few years. is that correct?
Posted on 3/29/17 at 11:26 am to DCtiger1
quote:
would you be starting from scratch or would they be giving you a piece of existing business that you would collect renewals on?
Scratch agency is tough and you are going to need to poor a ton of resources and hours into marketing.
I believe it would be scratch since there was no mention of collecting renewals.
Makes sense. Thanks for the information.
Posted on 3/29/17 at 11:26 am to NYCAuburn
quote:
okay this sounds like direct for farmers then they want you to setup your own agency after a few years. is that correct?
Yes, exactly.
Posted on 3/29/17 at 11:27 am to McCaigBro69
I signed a football scholly with them but liked partying too much and quit the team after my freshman year.
Posted on 3/29/17 at 11:29 am to McCaigBro69
quote:
Yes, exactly.
I have experience with this, not personal, but close family member.
Be prepared for a full commitment, if you leave after a year or two, they make you reimburse them for a lot of stuff. (18k after 1.5 years, for example)
Be prepared to not really make any money for 3-5 years. Car ins, you get paid twice a year, Home owners, once a year. your real money is in investing/securities/life ins etc...
Their expected pay numbers are bogus.
If you can make it 5 years and have a decent book, you are set for a good future though, if you can maintain
This post was edited on 3/29/17 at 11:31 am
Posted on 3/29/17 at 11:31 am to McCaigBro69
Farmers in NW AL is one of the worst.
They had the in laws insurance so fricked up.
I think the woman up there is envolved in some type of embezzlement or something.
They had the in laws insurance so fricked up.
I think the woman up there is envolved in some type of embezzlement or something.
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