Farmers Insurance Group Agency Owner Reviews | Glassdoor

Farmers Insurance Group Agency Owner Reviews

Updated Jan 21, 2020

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2.1
23%
Recommend to a Friend
25%
Approve of CEO
Farmers Insurance Group CEO Jeff Dailey
Jeff Dailey
25 Ratings
  1. "Excellent opportunity"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Agency Owner in Portland, OR
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Farmers Insurance Group full-time for more than 10 years

    Pros

    Control of work life balance. Helping the community.

    Cons

    It's a numbers game. Most of your time will be spent on the phone dialing for dollars.

    Advice to Management

    Hire executives who have previously been agents and understand the day to day operations.

    Farmers Insurance Group2019-12-24
  2. "Farmers Agent Opportunities"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Contractor - Agency Owner in Phoenix, AZ
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Farmers Insurance Group for more than 8 years

    Pros

    It’s your own business and you get to choose how you want to run it. The harder you work, the more money you earn. Your experience will depend a LOT on your district manager, and luckily I had a good one.

    Cons

    In two major ways, it’s not your own business. You don’t set rates, and if they’re uncompetitive, you will lose business. Also, you don’t always control the outcome of your clients experience. There are many moving parts when a claim occurs and sometimes it can go awry. This is with ANY insurance company, so it doesn’t just apply to Farmers.

    Advice to Management

    For those that make the rules, be sure to ask agents their thoughts. Seems like there’s a new “squirrel!” idea every couple of years and things are changed without a thought as to how it affects agents.

    Farmers Insurance Group2020-01-21
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  4. "What if"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Contractor - Agency Owner in San Diego, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Farmers Insurance Group for more than 5 years

    Pros

    Well known Branding in USA.

    Cons

    They changed our commission structure so much it made it undesirable.

    Advice to Management

    Dont do that.

    Farmers Insurance Group2019-12-18
  5. Helpful (5)

    "Bait & Switch"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Agency Owner in Wichita, KS
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Farmers Insurance Group full-time for more than a year

    Pros

    Brand recognition and good claims service

    Cons

    As many others have pointed out, the 3 biggest problems with this company is... 1. Outright fraud is used to recruit new agents. The reality is you will invest a very large amount of your own savings, or go into a very large amount of personal debt and loans, to finance an office THEY control for a period of 3 to 5 years before you ever see a dime of real income. You are so completely misled during the recruitment phase but the time you figure out the ugly truth of this "opportunity" you have too much invested to leave but are making too little to survive. Unless you have at least $250,000 of your own money to invest and are comfortable going at least 3 years with little to no income at all, do not become an agency owner. 2. Training and support are non-existent. During recruitment you will be told you will receiving training and support for your agency from the company. You won't. None. Zero. Zilch. Zip. The minute you sign the contract you will be thrown in the deep end for management to see if you sink or swim. The only support you will receive is being told "sell more policies". 3. Rates are not competitive. This is not an opinion, it's a fact. Farmers has been bleeding business uncontrollably for years due to noncompetitive rates and their business overall continues to shrink year over year as a result. Management seems to think customers will happily pay double or triple what they are currently paying for insurance for "service" - whatever that means. The reality is the "service" we offer is the same service any good agent with any other company is capable of offering at a significantly more affordable rate. It appears the loss of business from non-competitive rates is being subsidized with a very dishonest "churn and burn" agent hiring model that brings unsuspecting new agents in, have them invest their own personal money into generating new business for the company based on false promises, and then when the agent inevitably fails, uses the book of business that failed agent generated with their own personal investment to lure the next unsuspecting dope into signing a contract, let that person invest a bunch of their own personal money to grow it for a year or two until they starve to death, then wash, rinse, and repeat.

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    Advice to Management

    If you're enjoying the negative growth you've been experiencing year-over-year for many years now keep doing what you're doing.

    Farmers Insurance Group2019-12-09
  6. Helpful (2)

    "Thieves"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Agency Owner 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Farmers Insurance Group full-time for more than 3 years

    Pros

    I enjoyed doing insurance in the beginning but

    Cons

    Farmers cut our commission my 2nd year on all renewals devaluing our books. We had territory leadership change every year until I left. After leaving they took 65% of my contract value and put the deduction under "liabilities" with no other explanation. The products were the most expensive in the area making it difficult to sell. They forced you to open office and spend your own money for no reason. In 4 years I met 7 people in my office. Biggest waste of money. No benefits after 4 years I have nothing to show but a lawsuit to try and get the thousands they stole from my contract value. Worse company in the insurance biz.

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    Advice to Management

    If your trying to sell farmers hurry up and do it and stop hurting the people who do all the work for you (the agents)

    Farmers Insurance Group2019-10-22
  7. Helpful (8)

    "Fraud everywhere!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Agency Owner in Aurora, CO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Farmers Insurance Group full-time for more than a year

    Pros

    Freedom to make your own schedule-ish. They force you to be at the office, or pay someone to be there, 55 hours per week.

    Cons

    Everyone knows the DM’s are committing fraud in their agents books of business. The entire territory office, in Denver, looked the other way and actually threatened to fire the agents AND report them to the DOI for fraud! They had years of proof that the DM was using his personal credit card to add renters policies to random clients, then cancel them when he reached his quota. Farmers, as a whole, will also pay out on claims they know they shouldn’t just to save time. This creates drastically higher rates for clients and cuts the commission rates down for agents. Agents are deducted from their quarterly revenue goals for the amounts of the claims paid. I personally had an illegal keep wrecking his girlfriends car, she refused to add him to the policy and couldn’t provide proof of valid U.S. license. He totaled 2 cars and hurt 3 people... Farmers paid... rates went up. No benefits No work/life balance, they expect you to always be working They can’t even figure out how their own commission structure works! I was charged back for every life policy I wrote the first year I was there. As soon as they each hit 1 year, I saw the charge back for every penny I made. It was a wrong code when I had to change districts because my original was allowed to resign over all the fraud he committed. Nobody could explain it.

    Show More

    Advice to Management

    Try creating an ethical environment for your agents to work in, maybe they’d stick around.

    Farmers Insurance Group2019-08-07
  8. Helpful (6)

    "Farmers gets you to build a business for someone else"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Agency Owner in Virginia Beach, VA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Farmers Insurance Group full-time for more than 10 years

    Pros

    None, wasted the best years of my life!

    Cons

    You work very hard in your personal network to build a great business and then Farmers comes in a takes it all from you for a fraction of what it's worth and gives your life's work to a younger, untrained agent. Was forced (as an Independent Contractor) to invest in an office and have a large overhead, only to have Farmers come in with a Hostile Takeover. See lawsuit in CA due to ageism. They will bankrupt you with a smile and send you into financial ruin.

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    Advice to Management

    Sell what little is left of a once good company you have destroyed while you can. I can promise you, the people that terminated our contract will be next to be terminated. We had 14 District Managers, all fired just like you will be. How do you live with yourself?

    Farmers Insurance Group2019-07-25
  9. Helpful (1)

    "Great Company to start your insurance career with."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Contractor - Agency Owner in Oakville, WA
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at Farmers Insurance Group for more than 10 years

    Pros

    Great for someone just starting up with very little capital.

    Cons

    Company controls everything down to the color of paint on your walls.

    Advice to Management

    Management tends to change every 24 months, company direction could use some consistency.

    Farmers Insurance Group2019-04-08
  10. Helpful (4)

    "minimal support and bad prices."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Agency Owner 

    I have been working at Farmers Insurance Group full-time for more than a year

    Pros

    nothing outstanding but brand is somewhat helpful

    Cons

    high prices and no support

    Farmers Insurance Group2019-04-01
  11. Helpful (6)

    "Takes at least 5 years of supporting yourself to build up enough income to survive"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Agency Owner in Kansas City, MO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Farmers Insurance Group full-time for more than 3 years

    Pros

    Work for yourself set your own schedule

    Cons

    Starting from scratch, you need 1500 policies in force to survive and if you are writing an average of 30 a month you are in the top 10 % and you will lose 12% to 15 % as you go...

    Advice to Management

    They don't tell you what you need to know, it's sink or swim

    Farmers Insurance Group2019-02-21
Found 54 reviews