New Business Auto Insurance, Get Em on the Books, and Screw the Loyal

[AZDave]

Not a new fact, but one that is getting more attention.

Not sure this link will show.

Among the many reasons auto-insurance premiums can go up: Being a loyal customer | PropertyCasualty360

In summary:

“It has never been more important to shop around for auto insurance, no matter how long you have been with your current company,” says Robert Hunter, CFA’s director of insurance, in a statement. “Even if you have a perfect driving record, many insurance companies are raising rates on people just like you—people who do not shop around.”

Through a method called “price optimization,” insurers quantify (among other things) your likelihood of sticking with the company and then adjust rates based on their analysis. Hunter calls the practice unfair and dishonest.

Being a loyal customer will not get you the best rates anymore. Being a shopping customer will.

Getting to really not like selling auto insurance.

Dave

 

[todd02]

Not a new fact, but one that is getting more attention.

Not sure this link will show.

Among the many reasons auto-insurance premiums can go up: Being a loyal customer | PropertyCasualty360

In summary:

“It has never been more important to shop around for auto insurance, no matter how long you have been with your current company,” says Robert Hunter, CFA’s director of insurance, in a statement. “Even if you have a perfect driving record, many insurance companies are raising rates on people just like you—people who do not shop around.”

Through a method called “price optimization,” insurers quantify (among other things) your likelihood of sticking with the company and then adjust rates based on their analysis. Hunter calls the practice unfair and dishonest.

Being a loyal customer will not get you the best rates anymore. Being a shopping customer will.

Getting to really not like selling auto insurance.

Dave

This is stupid... I get older clients all the time who say, "Why did my rate increase by 3% this year?!

My reply- Inflation you retarded piece of SH$T.... Man if I had a dollar for every time a client didn't realize that the value of the dollar on average decreases by 3% a year. Which means EVERYTHING has to increase by at least 3%....

 

[xrac]

Not a new fact, but one that is getting more attention.

Not sure this link will show.

Among the many reasons auto-insurance premiums can go up: Being a loyal customer | PropertyCasualty360

In summary:

“It has never been more important to shop around for auto insurance, no matter how long you have been with your current company,” says Robert Hunter, CFA’s director of insurance, in a statement. “Even if you have a perfect driving record, many insurance companies are raising rates on people just like you—people who do not shop around.”

Through a method called “price optimization,” insurers quantify (among other things) your likelihood of sticking with the company and then adjust rates based on their analysis. Hunter calls the practice unfair and dishonest.

Being a loyal customer will not get you the best rates anymore. Being a shopping customer will.

Getting to really not like selling auto insurance.

Dave

Being a shopping customer has always gotten one the best rates.

 

[senior-advisor-indiana]

Being a shopping customer has always gotten one the best rates.

I agree and sometimes shopping can get you a lower rate with the same carrier.

 

[AZDave]

I agree and sometimes shopping can get you a lower rate with the same carrier.

Especially if that re rate is with Hartford or Progressive. Lost a few. I am the agent they purchase from, and the customer calls them direct for a quote from unrelenting solicitation.

Cut the Agent out, they are going to save some money. Can I match it; no way.

I really don't like selling auto insurance any more.

Dave

 

[1manshow]

This is stupid... I get older clients all the time who say, "Why did my rate increase by 3% this year?!

My reply- Inflation you retarded piece of SH.... Man if I had a dollar for every time a client didn't realize that the value of the dollar on average decreases by 3% a year. Which means EVERYTHING has to increase by at least 3%....

Wow! Poor old grandma's gonna have another stroke when she hears you talking like that

 

[Sales71]

Especially if that re rate is with Hartford or Progressive. Lost a few. I am the agent they purchase from, and the customer calls them direct for a quote from unrelenting solicitation.

Cut the Agent out, they are going to save some money. Can I match it; no way.

I really don't like selling auto insurance any more.

Dave

Dave no worries I can buy your auto book from you...but what would you sell then...

 

[todd02]

Wow! Poor old grandma's gonna have another stroke when she hears you talking like that

lol, yeah good thing Grandma's love me! But seriously who doesn't hate the client who say's, "why do my rates always go up by $1-2 every renewal"... Makes me look at the clients who are getting surcharges of $50-1000 and just sigh... Can't win unless you lower their rates for no reason...

Thank you Geico and Progressive for turning insurance into a commodity. I hope they crash and burn.

 

[insurance1822]

This is stupid... I get older clients all the time who say, "Why did my rate increase by 3% this year?!

My reply- Inflation you retarded piece of SH.... Man if I had a dollar for every time a client didn't realize that the value of the dollar on average decreases by 3% a year. Which means EVERYTHING has to increase by at least 3%....

Todd02 for the first time I must +1 to that. There's a select few who act shell shocked when their premiums go up, despite their energy, food, living & all other costs going up. In their idiotic brains they associate "zero claims = zero rate increases."

We've put together an 8 point list that (in about 5 minutes) gives a general synopsis on how insurance works, why rates go up, real world examples the client can relate to & what their options look like on the open market (we'll quote other carriers for their reference) because we can.

That being said...you still have your $hit brain moron *** people that despite all the education will revert to "well I just think this is ridiculous...i didn't have any claims." At that point you just want to reach through the phone & strangle them slowly.

 

[senior-advisor-indiana]

Why should my rates go up if I don't have a claim or speeding ticket? They get to charge me extra if I get a few tickets which doesn't cost them anything which is ridiculous and then some companies want to cancel you after a claim. We need obamaautocare!