Struck Out 5 Times Today W/ Same Auto Risk - Need a Competive Carrier

Aug 25, 2016

  1. MVI
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    MVI Expert

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    I quoted 5 similar risks today. 1 auto 1 ho4. late 20's into 30's. no accidents/tickets

    I quoted with standard carriers like allied, travelers, the hartford - but no one is coming close.

    3 of the risks currently have Geico.
    1 w/ Eerie
    1 w/ AIC - which is a smaller insurer in Maryland


    I'm writing all the business in Maryland. Any suggestions on a carrier I should contact? Looks like I'm missing something in my repertoire

    thanks guys
     
    MVI, Aug 25, 2016
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  2. indienoise
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    indienoise Guru

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    Unless you're a large agency, you have to be okay with the fact you'll never win them all.
    I could have told you right away the Hartford wouldn't be right for these type of risks. Allied and Travelers are usually on these pretty good, at least in my area. And you've got a regional carrier.
    This stuff goes in cycles. GEICO had been impossible to beat for 2 solid years, and all of a sudden this year I've been taking business from them. Around the same time, allstate went from easy pickings to hard to beat. But now they have a 20% increase forthcoming. Just keep the xdate info handy and contact them again next year. Sorry I can't help you with carrier suggestions. Don't let it get you down though.
    Oh, wait. You said AIC is one of your competitors. Then yes, if this is your market, find a regional carrier. I recommend reading your state DOI market share report to find carriers you may not be aware of and investigating their target market.
     
    Last edited: Aug 27, 2016
  3. djs
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    djs Super Moderator Moderator

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    Ahh, I finally get to give a nugget of marketing wisdom!

    You have 2 choices, find a carrier that fits your market -- OR -- find a market that fits your carriers.

    A lot of time, the second one is MUCH easier then the first. Geico wins in the 20 somethings, what if you target 40-50 year olds? Multiple cars? Higher end cars?

    You won't win them all, but find where you can focus your time and efforts and work there. There is always a Geico or esurance or whatever that will beat you on price. Doesn't matter who you have.

    Dan
     
    djs, Aug 27, 2016
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  4. MVI
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    Thanks for the encouragement. I needed that.

    I'm going to take your advice and look on the Maryland Site to see about regional carriers that may be good for the 20's market.

    I'm in my 20's so it's natural to sell to this demographic.

    I have x-dated them all and filed them away. If I get a new appointment I will revisit. I'm going to actively search out a appetite for the . Its huge and Geico is beating me down
     
    MVI, Aug 27, 2016
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  5. SueNami
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    Might want to try Penn National. they are a small regional and where i've compared them are competitive with Erie. they do offer first accident forgiveness, which Erie doesn't. Good luck!
     
    SueNami, Sep 13, 2016
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  6. MVI
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    Thank you for the advice. Unfortunately I'll have to wait a year or two before I can be considered for appointment with Penn.

    It seems like my carriers have an appetite for 30+ year old multi-car households. I'm still having a hard time filling the 20 something 1 car ho4 risk. But hey cant win em all
     
    MVI, Sep 17, 2016
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  7. MGBAgency
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    I'm in my 20's also. I know how you feel. When I started my brokerage I was 25. And I made the choice to sell on value and uncover concerns/questions people had about insurance and leveraged those worries to sell better coverage and focus on protecting assets.

    I never talk about price until the end of the presentation when I tell them how much it will cost. I close probably 60% of my deals. 50% pay more because they see the value in things like EQ insurance, vanishing deductibles, higher limits, glass buy back, UMPD, Collision waiver, etc..

    At MGB Insurance Services LLC, the way i say it is, We protect families and Assets with Auto, Home, and Life Insurance.

    Just remember you serve a purpose and once you figure out its more than saving money and enumerating discounts you will start to be much happier.
     
  8. nyc2phi
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    nyc2phi Guru

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    Started my agency in my 20s (29 now). I'm with Erie mostly but have a few other carriers. They are the best for what you are looking for, 1 car renter. Clean driving record I almost never get beat. I'm in PA.
     
    nyc2phi, Oct 6, 2016
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