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"Go ahead and shoe horn your clients "
and you're the same person who posted...
"When I need a raise, I just increase everyones limits on my own"
That's what you consider great service? increase their costs until they complain?
I guess that's one way to do it. Good luck when "due dilligence" hit's the P&C business. That'll be a fun business model to explain in court.
How to get people to raise their liability limits....
First, realize that most won't. Most want to balance premium with coverage. Having 100/300 is still pretty decent and having 250/500 doesn't prevent blowing through the limits.
Second, you'll never push a client into higher limits, but you can offer the option. You quote it with the normal limits, so offer a quote with 100/300 and 250/500. If they ask about the 250/500 then the door is open to....
Third, have a list of recent jury awards available. You can get these through juryverdicts.com, but there is a subscription fee. Otherwise, collect them through news sources. When they ask about higher limits, start out by talking about how fast something can go wrong when you are driving, a blink of an eye... Have you ever been driving and looked away for just a second and almost hit someone??? Let me show you what happened in some cases where they actually hit someone... in just that brief second... Review a couple of the cases... Then mention 'I never want one of my clients to have to pay these bills out of their pocket'. Proceed to write the app.
Of course, start with increasing their property damage limits. I quoted against another carrier where the prospect had 100/300 but only 10K in property damage.... Talk about an imbalance!!!!
Personal stories, which you collect over time, work very well.
Selling higher limits isn't always easy. People don't want to be insurance rich and financially poor. Unless they have a young driver, having the higher limits rarely costs them that much though, which is why I quote them initially, then try to sell them.
Dan
The $250 is an inconvenience, the 100 grand is serious. That's what you need to insure against; the devastation, not the inconvenience. Do you agree?
Great line. Mind if I borrow it?
1 year owning the agency, your focus needs to be to earn/build credibility in your new clients minds. Those of us with years and years in the business don't have to deal with that issue in nearly the same context as you are. My opinion is that some great credibility builders that are still working for us are:
Testimonials- we solicit a testimonial from every new client at the six month point of our relationship. We have taken those testimonials and condensed/updated them into a presentable, five or six page document that we can include with mailings to prospective clients. We also use them from time to time in our advertising and newsletter. which brings me to my second point
Newsletters- In the beginning, I wrote many of the articles and did the research for my client newsletter. I now use only one insurance topic each newsletter and mostly include other topics of interest. Being "an author" in my clients eyes has made me an insurance expert to most of them and they value and trust my opinions well enough to refer most of their friends and family to me personally. Am I an insurance expert ? How do you convey that professionally to your clients if you have not built credibility ? My opinion...these two ideas have worked well for me and could serve you well also.
Good luck