How to Take Customers from Geico

[iiinycboi]

So like the title says, how would you write auto insurance for a client who came in and told you he has geico.

My pricing is not competitive with them. Do you try to educate them and offer agent assistant that they cant get thru geico?

What would you do?

For me, when i get people asking for auto insurance and they say they are currently with geico, i know i cant be competitive in pricing.

 

[Praeter]

Are you digging deep to find out each of your candidates needs or are you just quoting price and if you can't beat it you just move on?

If your price is not even close then I wouldn't say it would be in the clients best interest to switch, but if you are in the ballpark then you need to sell them on why you are better than Geico.

 

[iiinycboi]

I am offering advice to them and what limits they need depending on their situation.

Most of my prospects are multi home owners who buy state min from geico! I tell them they need more converage than 25/50 and it would only be a little more than what they pay for state min.

They go ahead and ask for quote, then ask to call geico and geico is always cheaper. They take my advice and upgrade their coverage, but not thru me.

The problem for me is i see all Auto Prospects as price shoppers and dont really care about why you are better just how much are you better by (in price).

And it sucks when all my friends/network ask me if they should go with geico instead of an agent. I always tell them having an agent is better, but they always come back to the price.

 

[joshb]

Geico has a regional office in my city, so we come across them quite a bit. If I can't beat their price (which is rare) I tell the customer, they need to ask others that they know about their claim experience with Geico. I also look up their complaints with the OIR and the company I am offering and compare the two. its usually between Auto-Owners and Geico in my area, so its usually a pretty easy decision. Some people, don't care and just want price, and I do lose those, but others, want quality, and they choose to switch.

 

[djs]

My experience is that if you can't get within 10% of where they currently are, you are probably toast on getting them to switch, regardless of any reason you can give them.

Geico is buying your market right now, so keep those quotes and send them out every 6 months. Eventually, you'll be cheaper than Geico when their losses start racking up and they do a rate increase. This will probably happen sooner, rather than later.

Also, talk to your marketing rep. They should help you with what their target demographic is in your area where they are more competitive. You might also consider adding another carrier to fill other demographics.

In my area, Geico is decent for the clean '20 something' drivers, but for homeowners in their 50's, they don't do so well. Okay, their pricing is still decent, just everyone else is better

Dan

 

[b61mack]

The client may have just recieved a rate increase, so you maybe closer than you think.

 

[briko3]

When the **** hits the fan, do they want an agent or an 800 number?

 

[HealthGuy]

The HealthGuy is rewriting a Geico auto policy holder today onto another carrier. Warren Buffets been making some irritating comments in the press lately - in fact talking like hes a financial god or something - "pay more taxes everybody" to his buddy Obama - so I am happy to take some business away from him.

 

[Josh]

Geico has a regional office in my city, so we come across them quite a bit. If I can't beat their price (which is rare) I tell the customer, they need to ask others that they know about their claim experience with Geico. I also look up their complaints with the OIR and the company I am offering and compare the two. its usually between Auto-Owners and Geico in my area, so its usually a pretty easy decision. Some people, don't care and just want price, and I do lose those, but others, want quality, and they choose to switch.

I've had Geico handle a claim better than I could have expected and they have great rates. Sometimes you're just fighting a losing battle.

 

[HealthGuy]

Whats so hard about rewriting Geico...their rates dont stay low forever. F'em.