Business Focus: Farris Insurance

Photos by Libby Rogers

There are many activities one can perform while seated in a saddle: racing, roping, and cutting, to name just a few. Ask Mike Farris of Farris Insurance what one can do while seated on a well-worn and beloved saddle, and he will say, “Study the insurance business,” which is exactly what he was doing when representatives from Germania arrived to interview him 21 years ago. This time, though, the saddle happened to be perched on a stand in the corner of his office instead of thrown over the back of a horse! Having been around horses all his life, this is where he felt the most comfortable.

Prior to this time, Mike trained horses for a living, but in 1994 he realized that a better income was needed. He obtained a job with the local Farm Bureau; this is where he got his license and started his book of business. Eventually, he decided to go out on his own. In 1996, with a $3000 loan from his parents Jimmy and Carolyn Farris, a 10X10 office space in the Trin Elm building in Madisonville, (loaned to him by Mr. and Mrs. John Hardy), and an empty file cabinet, he started his “ride down the insurance trail.” You would have found him on many occasions dressed in his customary hat, jeans, and boots, in his office saddle, learning all he could about this newly chosen career. As he said, “Failing was not an option!”

In October 1996, he was appointed with Germania Insurance and has sold for them since. The relationship has fit well with his self-proclaimed “redneck” image. Germania is tailored toward the average American family living in rural areas. It is a Texas company, with 13 districts throughout the state. Madisonville is in the Central Texas district.

Mike eventually moved his business to a new location within the city, and Farris Insurance was now in a bigger building, with three additional employees, and file cabinets brimming with folders representing the many loyal clients with whom Mike had built solid relationships over the years. Eventually, he stepped out of the daily leadership role and bestowed that responsibility upon his very capable daughter Reygan, who excelled in this role quickly, having been involved with the family business throughout her high school and college years. Graduating from Texas A&M in 2010 with a BA in Communications, Reygan brought her technology expertise to the business, keeping Farris Insurance up-to-date with the latest business trends. As Mike proudly boasts, “She’s my tech!”

Left to Right: Reygan, Mike, Cindy, Clara, and Bo

Reygan has broadened the scope of Farris Insurance by growing their book of business for three of their other carriers, Progressive, Foremost, and Gainsco, and finding coverage for commercial risks through Germania General Agency and Texas All Risk as well. This allows them to offer services to a greater variety of people.

Out of all the companies they are appointed with, Germania, in business since 1896, offers the most comprehensive home coverage for those who qualify, and has the best customer and claims service. It offers an “open perils” policy which covers all risks, except those that are specifically excluded. It is the largest farm mutual insurance company in Texas and offers most types of insurance coverage, including commercial policies through its newly formed general agency. The only insurance not offered is health coverage.

Auto insurance is offered by all four carriers. Germania can consistently offer the most competitive rates on auto due to their stricter underwriting guidelines. For clients who do not meet Germania’s criteria, Progressive is a suitable alternative because of their ability to accept higher risk drivers.

Reygan was appointed by Germania during her time as a college student and has sold for them for almost 10 years now. She cares about her customers. “Whenever we can help someone who is struggling to understand their policy, or take care of them in a claims situation, or find a way to save them $1000 a year, it gives us great personal satisfaction to know that we made a difference.”

Farris Insurance has a high customer retention rate, a fact they are proud of. “We found good clients who have been loyal,” Mike states. “When I began the business, I hand-picked good clientele and have worked hard to gain their trust and confidence.” Reygan points to the fact that they have earned Germania’s Property and Casualty Texas Star award for the last 2 years. “This award signifies that we have the best performance rate in our district. Not that we are the largest agency, but that we grew and retained customers while also maintaining a low claims rate,” she states.

Located next door to their current office is the first stand alone building that housed Mike’s agency. Business growth soon required larger quarters.

Farris Insurance serves Madisonville, Huntsville, and surrounding areas. They do business statewide, but prefer to keep it more locally based so that they can offer personal service and a quick response when needed. They also work hard to maintain good relationships with other agencies in town. “There is good comradery among local agents. When someone calls for a quote to compare with their current coverage, if it is the same or close to what they currently have, we encourage them to stay where they are. We appreciate loyal customers, too,” states Reygan. “Our goal is not to take customers away from other businesses, but to provide the best coverage available and serve their needs as quickly as possible.”

Reygan laughed when she discovered just how closely her business practices mirrored her father’s. “When I first began, I would drive by homes and write down the addresses of those that looked to be a good fit for us, then would go to the tax rolls to find the owners’ names and send letters. I found out that my dad did the same thing when he started!” Growth has taken place mostly through word of mouth, along with treating their customers with care. “We start with grandpa and grandma, then their kids, grandkids, and first cousins, and on and on it goes,” muses Mike. “If you keep them happy, your file cabinet stays full. Otherwise, it can empty fast! We like to keep ours full of satisfied customers!”

Mike is king at socializing, and now that he is not office-bound each day, he stays busy visiting around town, or working at the family ranch where they raise cattle, show cutting horses, and produce pecans that are sold to area wholesalers. And while he is busy at the ranch, Reygan Farris Richardson, Cindy Starns, and Clara Kelly are hard at work to meet the insurance needs of their neighbors and friends. It is not unusual for someone to walk in and ask, “Is this the office that has the guy in the cowboy hat?” And once they look around and spot the saddle in the corner of the room, they know they have arrived at the place where good rates meet service and integrity with good old country charm!

Farris Insurance is located at 602 S. Madison Street in Madisonville. They encourage you to call them at (936) 348-2302, visit their website at www.farris-insurance.com, or come by for a friendly visit. You may be met at the door by their office “mascot,” a cute little cowboy named Bo! He will get you to the right person to meet your needs!