What does Allstate or State Farm charge to become independent agent with them?
Total Comments: 42
Posted: Thu Nov 12, 2009 03:12 am Post Subject:
are there federal legislative provisions for the insurance market in the USa or do the rules vary greatly from state to state?
Also how active are the regulatory bodies, particularly in regards to consumer complaints?
Posted: Sun Oct 10, 2010 02:52 pm Post Subject: Who is the best as far as training
I am planning on changing careers and entering the world of insurance. I acknowledge and understand the difference between captive vs. independent agent status as well as how the internet will affect interactions with customers. Which of the major insurance companies (STATE FARM, ALLSTATE, FARM BUREAU, etc) offer the best training and ability to buy a book of business from an agent that is retiring or getting out of the business?
Posted: Mon Oct 11, 2010 02:07 am Post Subject:
Unless an agent is in some relationship with the insurer other than as a captive agent, he/she may not have a "book of business" to sell. But you could acquire their business and have clients waiting to do business with you.
Posted: Tue Oct 12, 2010 02:21 am Post Subject:
You can buy an Allstate book of business. You need to prove you have $50k in bank and obtain financing for the purchase. Financing is tough now and most retiring agents wont finance it to a new agent from outside the company. Finance companies want to finance growing books. Most books that are for sale are not growing. That is why they are for sale. If you can make it happen its a great steady paycheck as long as the book is over $1.5 mill. Good Luck
Posted: Fri Nov 05, 2010 05:05 pm Post Subject: requests from insurance companies
I placed my resume on Careerbuilder and for every e-mail I receive regarding my industry of profession, I receive 10 requests from Insurance Agencies. What is the high recruiment demand for? Are areas such as LA not already saturated? I see more billboards for Insurance agents than Real Estate agents and that is a lot...
Also, Allstate said in one of their e-mails that they will pay up to 50k first year to get started. I am assuming office and other costs are expected from myself.
Observation: In this day and age background checks are required to get a number 3 at the drive thru at McDonalds; you have to go through security screening to present a coupon for a $1 Big Mac...so much for the days of Otis locking himself in Andy's jail cell... :D
Posted: Mon Nov 29, 2010 12:18 am Post Subject: State Farm and Allstate
Which company offers the best benefits to their agents? Which company is considered to be the most competitive?
Posted: Fri Jan 14, 2011 04:05 am Post Subject: State Farm is the best option
Farmers-though have good rates, but does not pay out in claims, or tell clients very shady information. As result, many Farmers agents go out of business or quit. I knew a claim adjuster that worked for Farmers, and this person told me that they tend to make up reasons to not pay out. Allstate, also a competitive in rates, but the company's structure sucks. As Allstate owner, you can sell your agency. This does not give the clients that peace of mind that they are going to stay or be in business for a long time. State Farm, however is the best choice if you are looking to own an agency. The company is super conservative, and all the applicants go through an intense process in order to get their agency contract with the company. Whereas at farmers, they will hire anyone on the streets as long you have the money to start the business. Be smart, do your research. I've been doing this for awhile....either work for State Farm or start an independent brokerage.
Posted: Wed Feb 23, 2011 09:15 pm Post Subject: Which pays more? Allstate or State Farm
I am in discussions with these two companies and am interested to know on average which company I could expect to earn the highest income from?
Thanks for anyones kowledgeable feedback.
Posted: Fri Mar 04, 2011 06:01 pm Post Subject:
With State Farm you will be a captive insurance agent. Allstate has some states where you are independent but most are captive agents as well. Captive meaning you can only write insurance through that company and no one else. They have recruiter you should contact one and they will tell you what it takes to become an insurance agent.
Good Luck.
Posted: Wed Mar 16, 2011 05:39 am Post Subject: farmers current reserve agent
you need to sell 40/4 within 3 months before you become a career agent. sell 40 P&C and 4 life before you become a career. Have you heard of this from another company.
Posted: Thu Nov 12, 2009 03:12 am Post Subject:
are there federal legislative provisions for the insurance market in the USa or do the rules vary greatly from state to state?
Also how active are the regulatory bodies, particularly in regards to consumer complaints?
Posted: Sun Oct 10, 2010 02:52 pm Post Subject: Who is the best as far as training
I am planning on changing careers and entering the world of insurance. I acknowledge and understand the difference between captive vs. independent agent status as well as how the internet will affect interactions with customers. Which of the major insurance companies (STATE FARM, ALLSTATE, FARM BUREAU, etc) offer the best training and ability to buy a book of business from an agent that is retiring or getting out of the business?
Posted: Mon Oct 11, 2010 02:07 am Post Subject:
Unless an agent is in some relationship with the insurer other than as a captive agent, he/she may not have a "book of business" to sell. But you could acquire their business and have clients waiting to do business with you.
Posted: Tue Oct 12, 2010 02:21 am Post Subject:
You can buy an Allstate book of business. You need to prove you have $50k in bank and obtain financing for the purchase. Financing is tough now and most retiring agents wont finance it to a new agent from outside the company. Finance companies want to finance growing books. Most books that are for sale are not growing. That is why they are for sale. If you can make it happen its a great steady paycheck as long as the book is over $1.5 mill. Good Luck
Posted: Fri Nov 05, 2010 05:05 pm Post Subject: requests from insurance companies
I placed my resume on Careerbuilder and for every e-mail I receive regarding my industry of profession, I receive 10 requests from Insurance Agencies. What is the high recruiment demand for? Are areas such as LA not already saturated? I see more billboards for Insurance agents than Real Estate agents and that is a lot...
Also, Allstate said in one of their e-mails that they will pay up to 50k first year to get started. I am assuming office and other costs are expected from myself.
Observation: In this day and age background checks are required to get a number 3 at the drive thru at McDonalds; you have to go through security screening to present a coupon for a $1 Big Mac...so much for the days of Otis locking himself in Andy's jail cell... :D
Posted: Mon Nov 29, 2010 12:18 am Post Subject: State Farm and Allstate
Which company offers the best benefits to their agents? Which company is considered to be the most competitive?
Posted: Fri Jan 14, 2011 04:05 am Post Subject: State Farm is the best option
Farmers-though have good rates, but does not pay out in claims, or tell clients very shady information. As result, many Farmers agents go out of business or quit. I knew a claim adjuster that worked for Farmers, and this person told me that they tend to make up reasons to not pay out. Allstate, also a competitive in rates, but the company's structure sucks. As Allstate owner, you can sell your agency. This does not give the clients that peace of mind that they are going to stay or be in business for a long time. State Farm, however is the best choice if you are looking to own an agency. The company is super conservative, and all the applicants go through an intense process in order to get their agency contract with the company. Whereas at farmers, they will hire anyone on the streets as long you have the money to start the business. Be smart, do your research. I've been doing this for awhile....either work for State Farm or start an independent brokerage.
Posted: Wed Feb 23, 2011 09:15 pm Post Subject: Which pays more? Allstate or State Farm
I am in discussions with these two companies and am interested to know on average which company I could expect to earn the highest income from?
Thanks for anyones kowledgeable feedback.
Posted: Fri Mar 04, 2011 06:01 pm Post Subject:
With State Farm you will be a captive insurance agent. Allstate has some states where you are independent but most are captive agents as well. Captive meaning you can only write insurance through that company and no one else. They have recruiter you should contact one and they will tell you what it takes to become an insurance agent.
Good Luck.
Posted: Wed Mar 16, 2011 05:39 am Post Subject: farmers current reserve agent
you need to sell 40/4 within 3 months before you become a career agent. sell 40 P&C and 4 life before you become a career. Have you heard of this from another company.
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