Competing with Farm Bureau

[scotty lane tate]

Their regional claims department is 1/4 mile from my office and their parking lot is empty by 5:30. Sell the fact that if they have a loss on a Friday night the Bureaus answering service will tell them it will be Monday until they can reach a claims rep. Most people who come in my office never met an agent just the CSR at the front desk. I was a client for 10 years and never met my agent.

 

[InsureTexasNow]

I am in Texas. We beat them with RVOS and Hochheim Prairie. They are standalone Farm mutuals with pretty similar coverage forms. I do not know if they do business in your area but it may be worth a look.

 

[delta427]

Iriquois does not have farm program yet.

FB is dropping insureds with recent losses and utilizing percentage deductibles for wind. Also writing multi policies instead of one Farm policy.

 

[RedKite]

I tell my agents dont be a one trick pony. You need to do needs assessments and identify their concerns etc. Professional selling. If you keep trying to one trick it, you will always end up in a dead end like you are now. Doesnt matter if its FB this year or next year its with someone else. Sell solutions.

 

[Guest]

I'm having the same trouble with FB as you all. They are kicking my butt on farms and HO policies. The best I can do is to work a package deal and try to make up the difference with autos, but it usually doesn't work.

Here in Oklahoma FB has been taking it on the chin the last few years on their HO claims. Last year they cancelled thousands of clients homes if they didn't agree to move their autos to FB. I picked up a few clients when those letters went out.

Selling your service as part of the deal is always important. But if FB's rate is half of everyone else's then the whole service angle isn't going to work.

If they keep these low rates it will eventually catch up to them and they will have to have huge rate increases. I guess all we can do is wait.

 

[PhilL]

Farm markets are difficult to find, as we all know. Check with your State Agents' Assn, PIA, etc. They sometimes can lead you in the right direction. It will not be easy but if you have expertise in that field, you may be able to talk to the right people at the carriers, who will realize that you know the farm business well, like they hopefully do...
There are accessible programs out there but you need to demonstrate significant expertise to get any attention.

 

[CollinAlexander]

Hochheim Prairie is pretty competitive with them in Texas. We also use a broker out of New Mexico called Stroud Insurance. The most common carrier they quote for us is Rain and Hail who used to be Ace Agribusiness or is now that. They are pretty competitive mono-line.

 

[dondulah]

I'm an fb agent. You pretty much can't stop the HO. Claims handling is above average. There is an answering service for claims off hours. Our auto rates are only good in rural, upper class and upper middle class areas. If is is a more urban or blue collar area the auto is horrible. If the client has high insurance scores in a "good"area we are good. In a metro area we would only be good in about 50pct of the geography. Our ho pricing and value adds is much better than auto. Also our website and technology is poor typically. Our auto is the Achilles heel and prices are going up. Commercial prices are dropping because they want less auto and more commercial. Hope this helps.

 

[Guest]

I'm an fb agent. You pretty much can't stop the HO. Claims handling is above average. There is an answering service for claims off hours. Our auto rates are only good in rural, upper class and upper middle class areas. If is is a more urban or blue collar area the auto is horrible. If the client has high insurance scores in a "good"area we are good. In a metro area we would only be good in about 50pct of the geography. Our ho pricing and value adds is much better than auto. Also our website and technology is poor typically. Our auto is the Achilles heel and prices are going up. Commercial prices are dropping because they want less auto and more commercial. Hope this helps.

What state are you in ?