Can You Have Too Much Integrity?

[Josh]

Not making a call on what you did, because I'm sure it was legit.

One point I don't think got enough attention though, was that cheaper isn't always the definition of "doing what's right". Just because someone is paying more for the company you represent, might not be the only thing that matters. How is the customer service? Overall, how are the rate increases? How well are claims handled? These are all other considerations people do (or at least should) make in choosing insurance coverage.

Let's also not ignore that specifically with P&C, agents frequently can find gaps in coverage, especially if they're competing against call center reps. If you're helping them better understand their coverage and they want to vote with their dollars to have you as an agent, even if it's more expensive, there is nothing unethical about that. It's good business.

 

[LGilmore]

Just think of it as the turkey's not done yet. A little more time. You should be able to come back at renewal and try again.

 

[senior-advisor-indiana]

I thought I read that the policies were the same. My comment was directed to RBA, who said if you can't beat their price then and more benefits and make them pay more. Maybe that's how you guys sell, idk?
- - - - - - - - - - - - - - - - - -
I thought I read that the policies were the same. My comment was directed to RBA, who said if you can't beat their price then and more benefits and make them pay more. Maybe that's how you guys sell, idk? I try to keep money in my prospects pocket. Of course I don't sell P&C so maybe that's how it works.

 

[Indiana_Adam]

Thank you for pointing out the grace period thing. I'm not a rep. for that company and should have advised her to pay her premium asap. That could have been a bad situation and I'd have def. lost some sleep over that, and maybe a job.

The coverages were the same. The company they are with is a great company and there weren't any coverages I saw that needed increasing/decreasing or ones they were missing.

Josh, I'm fine with them paying a higher premium as long as they are doing so by choice, not because they're late right now and I'm there with an application, pen, and a smile.

I soooo badly want to belive that I can sell a policy on more than price, but my small amount of past experience says otherwise. Sure, there are those who get fed up with the customer service of their current company or had a bad experience, but most care about the bottom line.

 

[Guest]

advisor....

for instance, Friday, I quoted a guy with crap coverages, 25/50/25, paying 156 a month
I give options,
50/100/50.....160 a month
100/300/100.....162 a month
250/500/100......158 a month
250/500/100 with 1 million umbrella, total, was 156 a month.

Some companies, it is VERY LITTLE to increase coverages, and some companies give you better rates when you take higher coverages....

so in this case, yup, I made the guy pay MORE, $2 a month in this case and went from $25,000 in coverage to $1.25 MILLION in coverage....

MOST client are happy to pay that, and actually get MAD because no one explained that to them....

oh by the way, thx for the 2 referrals I already got from this.

 

[rizzle]

if you couldn't put the client in a better position then explain that and see how they want to proceed. like what was mentioned the money isnt always everything, perhaps there may be something else that they may like better.

 

[biohaz]

If u cant help them then just ask for referrals. they will appreciate ur honesty

 

[Hamlin1234]

Great Sharing and Community..

 

[Ann H]

If u cant help them then just ask for referrals. they will appreciate ur honesty

Absolutely correct. This couple will appreciate your honesty and WILL give you business. You can cross sell if you sell other products, or ask for referrals. Just ASK for it, and they'll feel good about giving you a piece of business in return for the business you lost.

By the way, for the rest of your life, every integrity challenge you run into will be the same as this one, although it might be in larger dollar amounts. An integrity challenge is always about whether to take the gain for yourself (at the expense of another) or whether to take gain only if it's a win-win for both parties. If you're honest in the small thing you'll be honest in the large thing.

 

[The Rabbi]

"What goes around comes around". I can attest to it.