Dec
02
Any good or bad stories about Farmers Insurance group?
By
My boyfriend is looking at possibly opening a farmers insurance group agency. He met with them yesterday. They sent him home with a packet that we read over and it does sound like a good idea and a good career if you are willing to put forth the work. I just don’t know much about the company and wanted any body’s input if you knew anyone who was an agent or had been an agent for them! I think he wants to take this risk, but I just want to make sure it’s a good decision and isn’t going to fall apart in the end.
3 Comments
December 2nd, 2009 at 8:13 pm
they take good care of us but it is the rep, not the company whom we do business with
December 2nd, 2009 at 8:26 pm
On June 11, 2008, the Farmers Insurance Group’s Financial Strength rating by the A.M. best Company was downgraded from a B++ (Good) to B+ (Good).
A.M. Best is an independent rater of the financial strengths and claims-paying abilities of insurance companies licensed to do business in the US. The company has been rating insurance companies for over 100 years.
The top Rating that the A.M. Best Company has placed on the financial strengths of insurance companies is A++ (Superior). Other ratings have been A+ (Superior), A (Excellent), A- (Excellent), B++ (Good), B+ (Good), B (fair), B- (Fair), C++, C+ (Marginal), C, C- (Weak), D (Poor), E (Under Regulatory Supervision), F (In Liquidation), S (Rating Suspended).
So, although FIG is classified as “Good”, things could be better. Maybe this information can help you in determining whether or not to pursue the opportunity with the company.
December 2nd, 2009 at 8:36 pm
Farmers Insurance is horrible, you could go broke being an agent. I may have just saved you and your boyfriend from the biggest mistakes of you lives!