How to Sell Insurance On Value Instead of Price – 3 Sales Tips

How to Sell Insurance On Value Instead of Price – 3 Sales Tips

A professional insurance salesperson (like you) must be able to connect with prospects and help them understand and internalize the val... 08:04:00

A professional insurance salesperson (like you) must be able to connect with prospects and help them understand and internalize the value of the insurance you’re selling. If you only sell insurance on price, you will eventually be replaced because:

There will always be another company with lower rates. When people buy from you just to save money, they’ll leave just as fast. A call center employee can quote more people faster and cheaper than you. A website can give millions of quotes per second even faster and cheaper.

I’m not an idiot. I know that price is the primary driver of insurance sales. But I also know that selling on price alone will be the downfall of you, your agency, and the entire agency sale model.

1) Talk About Claims

When shoppers come to you for a quote they’re only focused on one thing – the price.

It’s your job to make them recognize and internalize the fact that they’re making a decision about more than just how large of a check they’re going to write every month.

Explain the claims process and how your agency helps guide customers through it as smoothly as possible. Use a specific example of how your process helped a previous client have a better experience.

Find every way possible to talk about claims – it’s the best way to get people thinking outside the price box.

2) Ask Why They Bought That

When you find out what kind of car, home, motorcycle, etc. the prospect owns ask them: “What made you choose that one?”

It’s very rare that someone responds with, “It was the cheapest.” Instead, they’ll say, “It had the best crash test ratings” or “It’s is in a really great neighborhood with amazing schools” or “After all these years of working hard, I deserve a few nice things”.

An expensive insurance policy is certainly not as cool as a brand-new Harley but getting prospects to answer this question aloud will remind them that they don’t make every purchasing decision on price alone and you will activate the part of their brain that makes more value-oriented decisions.

3) Ask about the worst accident they’ve seen

What’s the worst car accident you’ve ever witnessed? Seriously… stop reading this article right now and think about it in your head…

Got it? Have you re-lived it in your mind’s eye?

Now tell me you don’t care about anything but saving 15% off your car insurance.

Of course this example is geared toward auto insurance, but you could adjust the concept for property, life, disability and just about any other type of insurance.