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January 3, 2024
Fast-tracking auto insurance sales for your agency is a lot like going from zero to highway speed. Initially, it requires a lot of horsepower to rev that engine. But once you’re at full velocity, you can cruise along pretty comfortably — as long as you keep your tank full and your eyes on the road. Here are some high-octane tips to keep existing car insurance clients renewing while encouraging new sets of wheels to pull up to your agency door.
Steering Conversations with Active Listening
You’re itching to let the customer know about discounts, or why they should consider adding gap insurance. But first, take a deep breath — ask questions and listen carefully to the answers. Active listening will help you better understand your client’s needs and enable you to better tailor your offering to address each driver’s unique requirements and concerns. Things to practice include:
· Being fully “present” during the conversation (i.e., engaged and attentive).
· Maintaining eye contact.
· Noticing nonverbal cues (two-thirds of human communication is nonverbal).
· Asking open-ended questions.
· Paraphrasing and repeating back what your customer said.
· Listening to understand rather than “waiting” to respond.
· Clarifying with targeted follow-up questions.
Not So Fast: Overcoming Price Objections
Especially when rates are climbing, new sales and renewals can be more challenging as some customers may feel a degree of “sticker shock” on their premiums. It’s important to bring these discussions back to value whenever possible. After all, cheap insurance is no bargain if it leaves you exposed in the event of an accident. For example, comprehensive coverage costs more but offers broader protection against uncertainties that are beyond a driver’s control. Likewise, explain what may be lacking in some low-cost policy options while exploring bundling to reduce total costs. Then point out full-payment and auto-pay discounts to drive down price.
Go Full Throttle by Highlighting Rave Reviews
Testimonials from your auto insurance policyholders can be very powerful. Having your clients tell others how your services and advice made a difference helps establish trust and builds credibility for your agency. Promote testimonials on social media and your website whenever you can. And don’t wait for testimonials to show up in your inbox — ask clients if they’d be willing to give a review in writing or make a short video about their experience as a customer.
Driver’s Ed: Helpful Content Fuels Sales
Car insurance is complex and can be confusing to consumers. So when you create content that makes it more understandable, you add value straight out of the gate and increase your odds of making a sale. Produce short, clear explanations of commonly misunderstood auto insurance terms and share information about specialty coverage for RVs, motorcycles and classic cars, for example. Video is almost always more engaging and better at building a personal connection, so try making a few “shorts” to post on social media to get used to being in front of the camera and let prospects get to know you better.
Co-pilots: Creating a Partner Network
You’re already networking through friends and business organizations, so expand that effort to build a stable of partners who can drive more auto insurance business your way. Expand your existing relationships with realtors and mortgage brokers to include businesses closely aligned with the car market, such as auto repair and body shops, new and used auto dealers, bankers, and car loan officers — and even auto-supply retailers.
Pedal to the Metal
Making a few videos or posting a testimonial is a good start, but you need to keep giving those programs gas to own the road in the competitive car insurance market. That means posting regularly on social media, making time to meet with other business owners in your referral network and regularly practicing your active listening skills. With a little time and effort, you can fine-tune your marketing engine, shift your auto insurance sales into high gear, and lap the competition.
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The information contained in this page is provided for general informational purposes only and may not be applicable to all situations. We Insure makes no guarantees of results from the use of this information.