Featured Vendor Friday – Cody Smith with Farmer’s Insurance

We are excited to talk about insurance today with Cody Smith of Farmer’s Insurance.

Team Lucky Duck: How did you get started with insurance?

Cody Smith: While I was still in school, I knew I wanted to get into insurance after my buddy mentioned it. I knew it wasn’t about sales but about building relationships.

TLD: What made you choose Farmers?

CS: I knew I wanted an agency that had the best training program. Several companies simply have representatives that don’t have a steak in what they do. But Farmers supports their agents’ businesses from the ground up. They provide us with the opportunity and tools to get started, we’re top of the competition and we’re treated very well. It feels like family.

TLD: What types of insurance do you offer?

CS: The biggest ones are, of course, property and casualty. This includes home, auto, umbrella, boat, and life insurance. The only insurance we don’t offer is investment and health insurance.

TLD: Are there different types of homeowners insurance?

CS: Typically people are offered one policy based on how much the home should be insured for. Farmers offers a high end homeowners policy, which sets us apart but can be quite expensive. However, this April, we’re rolling out a new product that will offer our customers 3 different levels of insurance on their home, depending on the kind of coverage they’re looking for. We don’t want people overpaying for coverage they don’t want or need.

TLD: What are the benefits of having homeowners insurance?

CS: Simply put, it will protect your investment. Buying a home is one of the biggest investments you will make so the last thing you want to do is skimp on the insurance to protect it. There are products that will make sure you have a place to stay in the event that your home is damaged. Additionally, we provide liability and identity theft insurance. There’s a lot of value to homeowners insurance besides just protecting your property.

TLD: Let’s say I have damage to my property. How does the process of filing a claim work?

CS: We provide 24 hour service but I always tell my clients to call me first if possible. I want to be able to inspect the situation and help them find solutions to their problems before having a claim go on their record. Farmers is top in the industry for handling claims efficiently and smoothly. We usually get people out there that same day and we will be in contact with you immediately.

TLD: What are the most common claims homeowners make?

CS: In Minnesota, the biggest claim is hail damage. The number one loss on a home is water damage, especially in basements, which isn’t always covered under your policy unless it’s endorsed. We’re starting to educate our clients to make sure they know what type of coverage they will need to protect them against the most common and relevant claims.

TLD: What else should we know about insurance?

CS: We hire a 3rd party whose main task is to figure out the reconstruction value of your home based on materials and square footage. This can confuse many first time buyers because it is not always the same value of their mortgage.


Thank you so much to Cody Smith for taking the time to answer our questions and for providing excellent service to your customers!

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