The unlikely insurance agents. (2024)

January 1, 2010 my mother died and that pretty much set thetone for most of that year. Not beingenough tragedy to start the year on a properly sour note, my father-in-lawpassed in March. Never being one to beleft out, Uncle Seymour left us in April. Believe it or not, this is how westarted our journey from the most unlikely insurance agents to the#ProtectionPros .

As you can imagine, 2010 was a pretty tough year for me andmine. Between Mom passing and Dadpassing, I lost my job. Mom had no resources of her own and I wasn't going tosee her in a home. My father-in-law was a CPA and a child of a depression. His ducks were so in a row that you wouldhave thought a team of engineers lined them up as part of a MIT graduationproject. He had life insurance, long term care insurance, home care insurance,even a prepaid funeral.

So, I began desperately throwing my resume out on thestreet. You know how it is; you throw that thing out everywhere. I wasn't aboutto let my family go hungry. Furthermore, I had grown rather attached to my homeand thought I might personally miss eating.

As my job search continued, I was called by a life insurancecompany for an interview. (Well, they call it an interview but it was really asales presentation.) I came home sold and explained to my better half how wecould open our own business, help people avoid what we went through with mymom, and earn a good living all at the same time. Damn, I was excited!

So, like most people we set off to do research. Our bubble popped when we saw that thiscompany had a “B” financial rating and one of the highest complaint ratios inthe industry. Ok, all insurance companies have complaints. But a quick Googleon these guys showed us how bad it was. There was no way could I work for acompany I didn’t believe in.

Not to be deterred. I continued to interview with otherinsurance companies and ended up with three offers. One of those was with Farmers’ Insurance. We took Farmers’ offerfor many reasons. Matt Bennettwas one of them. Always positive and supportive, he seemed willing to help usevery step of the way as our district manager. In my estimation he had theknowledge and experience to do so.

Farmers’ philosophies were another reason. Farmer’s provides free educational courses toschools. They had just finished a “Thank a Million Teachers”program and offer many teachers and educationalresources free of charge. They encourage agents to get out and meet theircustomers. They also had a pretty good contract Etc. (I will refrain fromincluding the whole list.)

The last reason we joined Farmers’, and not an insubstantialone, was that during the interview process they didn’t ask us for a list of ourclosest two hundred friends. You see, our biggest reservation about becomingagents was that our friends and acquaintances would end up walking the otherway when they saw us in a crowded room. (Ok, not that this doesn’t happennaturally, but we didn’t want to exacerbate it.)

We are very gentle with our prospects, and even gentler withfriends, no hard sell stuff. We make sure our friends know what we do, and wehope they will trust us enough to allow us the privilege of reviewing theirinsurance. Rarely would we ask them directly. It’s a quandary because we knowthat no one will care for them or be more concerned for their interests than wewill. Yet you do not want to turn anyone off. It’s a delicate dance and we arestill taking lessons.

Thank you for taking a moment to get to know us. I am your author (blogger?) Barry Fidlow. Iam half of a dynamic duo. Together over the last five years, I and my wonderfulwife and business partner, Barbara have gone from being the most unlikelyinsurance agents to becoming #ProtectionPros.We invite you to join us in our journey by allowing us the privilege ofreviewing your insurance program. We would love to be your agents. Write us at bfidlow@farmersagent.com or Tweetus using the hash tag #ProtectionPros. You can also follow us on Facebook and, ifall else fails, there is always the land line 630-297-1407. We look forward totalking with you soon.


Building our agency one friend at a time,

Barry Fidlow




The unlikely insurance agents. (2024)

FAQs

Who is the most trusted insurance company? ›

Summary: Best Car Insurance Companies of April 2024
CompanyForbes Advisor RatingOur expert take
Nationwide5.0Best overall
USAA4.8Best for military members and veterans
Travelers4.7Great for drivers with speeding tickets
Erie4.6Best for drivers who caused an accident
4 more rows
6 days ago

Is it cheaper to buy insurance online or through an agent? ›

It is generally cheaper to buy car insurance online, as there are no agent fees or markups. However, an agent can guide you through the purchase process and help you select the best coverage.

What is the hardest insurance to sell? ›

Life insurance is a very difficult product to sell. Simply getting your prospect to acknowledge and discuss the fact they are going to die is a hard first step. When and if you clear that hurdle, your next task is creating urgency so they buy right away.

Why I quit selling insurance? ›

#1 Low Motivation. It's not a secret. To be a thriving insurance agent, you have to want to succeed. Failure to work hard is one of the top reasons people in this industry want to call it quits.

What insurance company has the most complaints? ›

United Automobile Insurance

Who normally has the cheapest car insurance? ›

Cheap car insurance. State Farm is the cheapest large auto insurance company in the nation for good drivers, according to NerdWallet's 2024 analysis of minimum coverage rates. State Farm's average annual rate was $471 or about $39 per month.

What is the disadvantage of insurance agent? ›

Potential Conflict of Interest: There is a potential for conflicts of interest when using insurance agents. Some agents may have financial incentives to sell specific policies that benefit them more than you. Therefore, it's essential to work with a trusted agent who acts ethically and independently.

Why is Progressive so expensive? ›

If you buy directly from a Progressive company, your car insurance price reflects the cost of staffing and maintaining the sales centers, and a larger portion of our marketing costs.

How can Progressive Insurance be so cheap? ›

Progressive is so cheap because it offers a wide variety of discounts and gives consumers tools to acheive the best rates possible, such as Progressive's price comparison tool and their Name Your Price program.

What kind of insurance sells the most? ›

Life insurance is the most profitable—and the hardest—type of insurance to sell. With the highest premiums and the longest-running contract, it brings in cash over a long period of time. In the first year, agents make the largest annual sum on a policy, bringing in anywhere from 40–120% of the policy premium.

Can selling insurance make you a millionaire? ›

If you have a great work ethic and are willing to place yourself out there to establish relationships with clients, you will get more opportunities to earn a higher income. Selling insurance may even make you a millionaire.

What type of insurance is sold the most? ›

Individual Life Insurance Policies Are the Most Common
  • 64% of all life insurance policies in the U.S. are individual plans, which include both term and whole life insurance policies.
  • Term policies accounted for 40% of individual life insurance policies purchased in 2021.
Jan 3, 2024

What is the failure rate for insurance agents? ›

The Key To New Agent Insurance Sales Success! Dear Friends, Somewhere around 80% of new insurance agents hired by independent marketing organizations fail and quit within their first 12 months of getting their license. And then within 5 years, 80% of the remaining new insurance agents will struggle and quit!

Why are insurance agents so rich? ›

One of the primary reasons insurance agents can accumulate wealth is their commission-based income structure. Unlike salaried employees, agents earn a percentage of the premiums they sell to clients. As they build a client base and generate more sales, their income potential increases.

Is selling insurance a good career path? ›

Yes, selling insurance can be a good career for independent workers with strong sales skills. Sales agents often earn bonuses and commission, so their income potential depends on their talent.

Who is the #1 insurance company in USA? ›

State Farm

Which insurance company has the highest customer satisfaction? ›

State Farm

What is the best insurance company in USA? ›

Top 25 non life insurance companies in the United States
Rank 2023CompaniesTurnover
2022
1State Farm78.64
2Progressive52.33
3Berkshire Hathaway56.88
25 more rows
Apr 4, 2024

Who is number one in insurance? ›

State Farm is the largest auto insurance company in the U.S., with 17% of the market. Other big car insurance companies include Progressive, Geico and Allstate.

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