Starting Out with Allstate or Farmers

[PCAgent]

I've been in mortgage banking (sales) for well over 20 years and if I was to graph my income it would look like it was printed from a seismograph. Eventhough it may be a tough 1st couple years, I think PC/Auto insurance will be agood move for me in the long term.

Reading through many of the threads here and thinking this through, it seems to me that a captive producer/agent may be best rather than independent? I have a friend who's a long time Allstate agent that is willing to bring me onboard as producer and basically mentor me. If I end up leaving and open up my own AS agency, he'll allow me to take my business with me, but not the case if I leave the AS family.

I'm also going to meet with Farmers, but I'm not familiar with their arrangement as I've not yet met with them. I'd like to go with a company that I see myself staying with over the long term and not go into it think that I'll just get my training and use them as a stepping stone.

Any feedback and thoughts are welcome...

 

[nyc2phi]

Starting is a good idea. Your friend will train you which is better then joining on with a random AS agent because you never know if they will put in the time with you.

Only thing I personally would do different is go independent after being with AS. I don't see the need to go captive after being well trained. You will have much more freedom as an indy

I hear Farmers sucks in PA

 

[Guest]

After reading thru these boards, where in the world did you EVER read that captive was better than Independent?

Captive MIGHT be a better place to start, but certainly isnt better than IA

 

[PCAgent]

After reading thru these boards, where in the world did you EVER read that captive was better than Independent?

Captive MIGHT be a better place to start, but certainly isnt better than IA

Most of everything I said was based around "starting out", so that's what my opinion of captive vs independent is based on.

 

[Guest]

Most of everything I said was based around "starting out", so that's what my opinion of captive vs independent is based on.

Then, yes, to start out, you are correct............

 

[InsuranceMGA]

Well let me Just say I have been an independent agent for almost Eight Years, Last Year I decided I would try being captive...Yeah I know...they told me they would give me 4 agents and Leads for those agents all I had to do was manage them and collect my overrides. Well they Lied I Flew down to Texas to take a look at the company came back and never wrote another policy. Went back independent at the start of this Year. I would never want to be captive!!! EVER!!!!

 

[soonersublime]

Farmers is much easier to start out with then Allstate. Ask your friend about the minimum investment needed to start out with Allstate.

Farmers is a big commitment as well but does have a lot of resources to back you up.

I would highly recommend asking a thousand questions before deciding on which one. They both have good sides and bad sides.

 

[PCAgent]

Farmers is much easier to start out with then Allstate. Ask your friend about the minimum investment needed to start out with Allstate.

Farmers is a big commitment as well but does have a lot of resources to back you up.

I would highly recommend asking a thousand questions before deciding on which one. They both have good sides and bad sides.

Just to be clear, I would be starting out as a producer for an AS agent, so there will be no costs other than myself needing to supplement my income from saving until I can get up to speed.

 

[xrac]

Starting with Allstate as a producer is a good move. You will learn the business and receive good training. However, based upon what I know about Allstate and the direction it is going I would not become an Allstate agent under any circumstance. You didn't say how you will be compensated as a producer?

 

[CaptiveBroke(r)]

Ditto.....xrac.

You will receive the best training and learn the P&C business inside out. You can also leave whenever you care to without taking a hit.

I spent a career with Allstate and have only great things about it during my tenure their but today's Allstate....I wouldn't recommend my son to go that direction as an Agent today.