State Farm Insurance

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If I were to open an insurance agency under State Farm what type of partnership or business would it be considered, ie, sole propriotor, s corporation, general partnership?

Best Answer

depends on how you open it. sole propriotor if you merely sign a brokers agreement with them as yourself. Then you are merley in your own business as a broker for them If you went into business with someone else in the office you would be a partnership ( depending on the agreement as to what type), if you incorporated and had that corporation owning the business where you had a broker relationship though that corporation, then you would be a corporation. State Farm would have all those types as agencies within thier broker agents. What you left out was an employee, if the agency was actually owed by state farm itself you would merely be an employee

Do you or someone you know work as a sales agent at state farm Insurance Company if so are they payed a base pay? What questions are usually asked in a interview. Do you like the job? How long is the training? Do the company pay for the license

Best Answer

I don't know ANY sales agents that are paid a base pay - it's ALWAYS strictly commission. Initial training is about three weeks, less if you already have a license. Then it's ongoing training, learning more and more about insurance as you go along. But it's pretty informal once you get the license.

since state farm is refusing to pay out to katrina victims and now pulling out of the state of mississippi altogether in order to avoid paying any more claims...should state farm be boycotted by the american public..??? isnt this exactly the reason we pay insurance premiums that are usually too high...??? this is a risk business, and as far as i am concerned, they got the short end of the stick this time, their gamble didnt pay off...so now they are trying to stick it to the small guy again...dont let your politicians give this company an out....

Best Answer

That's Allstates Stand.

State Farm paid against my totalled car, and Gap-Insurance paid their share, but did not cover the ENTIRE amount of the loan. There are $3000 outstanding on the loan with the bank. State Farm wants their car (since they paid against it) but they can't get the title yet because the lien holder hasn't released the title due to the fact that there are $3000 left to be paid. What to do? I can't afford it all at once.. and State Farm won't wait until I can finish paying it off because the car is sitting at the Police Impound facility accruing storage fees on a daily basis! What is going to happen? .

Best Answer

Ah, I bet you rolled over negative equity from a previous vehicle, when you bought the new one - and that's where the $3,000 comes from. Well, you need to tell the adjuster, I'm sorry, I don't have $3,000. You can move the car, or you can write it off, but I can't get the title for you. Here's the telephone number and contact name at the bank, talk to them. My guess is, the bank will continue to not release the title, State Farm will not be able to get the car out of the impound lot, so the fees are going to keep accruing, until the city attempts to repo the car. Meanwhile, the bank will be hounding you to keep making your payments until the loan is paid off. I see collection agents in your future, a LOT of them, from several different places. I strongly suggest you get a bus pass, and save up to buy your next car for cash.

I have state farm insurance. Im just wondering if I can use a credit card to make a payment in the ins. office. thanks!!

Best Answer

No. Cash, check, or money orders only - because the CREDIT CARD companies charge the people who take them, 3% to 5%. So the VAST majority of insurance companies do NOT take credit cards.