Closed a real nice family restaurant today after 2 months. The owner also gave me his home and auto as well. Saved him money on the auto and home. The commercial costs the same but I increased his building coverage by 120k. He was very underinsured. He is now furious at his agent over at the big agency in town with dozens of employees and the big office building. I made this guy good and scared about OMG how would you ever mange if your building burnt down you are so underinsured, etc.. He made all his employees that have a car or home get quotes from me. So far I have sold 2 of those.
3 Success Stories
- Thread starter Indiana_Adam
- Start date
- Thread starter
- #42
- 385
That's awesome! Did alll of this start with a cold call?
It was a cold call. He did take two months to think it over. I did not want to make his old agent out to be a bad guy but they were telling him if he had a fire 200k was more than enough to rebuild a restaurant and he had enough coverage. I increased it to 320k without making the premium go up but that is still only 75% replacement cost for $2,700 a year. The old agency did not have his car insurance because they never asked for it, this poor restaurant owner had state minimum liability on 2 cars. All I could think was if he had accidents he was really underinsured. I just think the big agency was just too busy to really take any time to figure out his needs.
- Thread starter
- #44
- 385
Only 75% replacement cost? Why not bring it up to 80% to hit coinsurance? Majority of losses are partial and you could have an E&O claim if he has a partial loss. Beyond that, Congrats!
I'm working with an assisted living home right now. About 16K premium for the workers comp. from a pure cold call. Other agent wrote them state pool without shopping it and failed to tell them work mod is going up 60% at the end of this month. Waiting for the owner to give the admin the thumbs up so we can bind by Sunday.
I'm working with an assisted living home right now. About 16K premium for the workers comp. from a pure cold call. Other agent wrote them state pool without shopping it and failed to tell them work mod is going up 60% at the end of this month. Waiting for the owner to give the admin the thumbs up so we can bind by Sunday.
Did you get it?
- Thread starter
- #46
- 385
Sort of. Its a bizarre situation that I will expand upon once it is clarified. Another agency got involved who uses the same broker and an AOR. I'm also quoting a machine shop and public library system, both from a cold call.
I did get him to 80% thanks for pointing that out to me. I am now concentrating on medicare plans until December, just really tired of P & C right now.
thecommercialguy
Expert
Pumped about how long this thread is going. Good job all!
Hayato
closingcommercial dot com
Hayato
closingcommercial dot com
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