Tips for Selling Insurance on Value Not Price
Selling more insurance without relying on price alone
The difference between a live insurance agent and an insurance lead generation website is the fact that you can leverage more than just price comparisons. As a professional insurance agent your biggest value is your ability to connect with prospects and help them understand the value of the insurance they’re buying.
If you only deliver price to your clients, you become easily expendable. Selling on price alone leaves you vulnerable, as insurance rates fluctuate your prospects may be able to secure a lower rate. While price is the primary driver of insurance sales, relying on price alone leaves you as an agent and your insurance company vulnerable.
Here are topics that can help you as an insurance agent, sell insurance on more than price.
Claims
When insurance leads come to you – whether it’s through prospecting, purchasing or insurance sites – they’re focusing on price. It’s your job to flip the script, and discuss other policy factors that will have an effect on them. It’s important to share the claims process with them, and describe how your insurance company will help guide them through the claims process. Use past examples to help illustrate how your insurance agency makes the difference for clients submitting claims.
Purchase Points
Find out why or what motivated them to make their purchase. If an insurance lead is coming to you, it’s most likely because the prospect just made a recent purchase. It may be a car, home or motorcycle but it’s important to know what made them buy. Very rarely will someone tell you they made their decision based on what was cheapest. They’re going to say it was safe, had good ratings, was in a good neighborhood, or other factors. While insurance isn’t as sexy as a new convertible it does provide a sense of security. Getting your prospects to state these reasons aloud can help them make value-oriented decisions.
Accidents
Accidents happen. Most of us have experienced some time of accident before, whether it was a car wreck or home disaster, we’ve had to overcome issues thanks to our insurance policies. By asking your insurance leads about the worst accidents they’ve witnessed or experienced, you can remind them what they get from insurance coverage. It may not be the cheapest, but it can help save them or their property.
Discounts
It’s difficult to avoid talking about price. Talk to your insurance leads to get to know them. By building a personal relationship, you can determine if they qualify for any discounts. Discuss all discount options with them, reviewing savings and all. Help them understand how much they’re saving thanks to discounts you’ve helped them find.
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