Making the coverage climb can be hard! 100/300 is decent coverage but you know that there is more you can do!
When people tell you they have full coverage I always chuckle. It's like really? Where did you get that?
We know that for many people insurance is a bill for a product they hope they don't have to use. And if they do have to use it, they hope they have enough of it!
When you see a client with good coverage it's still an opportunity for them to hit the next tier (and qualify for an umbrella).
Here is how you can position your pitch for coverage improvement:
Tip: Each call should start with the following phrase:
"While I have you on the phone if I find any coverage weaknesses or missing discounts may I bring them to your attention?"
After you open up the call with the key phrase now you can pivot into the coverage improvement pitch.
I see a coverage weakness I'd like to bring to your attention. It looks like your auto liability insurance could be raised. If you were ever in a severe accident your policy only covers $100,000 of bodily injury for a single person. While that seems like a lot it may not be. We can improve your policy to $250,000 per person for about $8 per month. Don't you agree we should add that on?
SILENCE! DO NOT SPEAK. LET THE PERSON PROCESS THE INFORMATION
If they give you an objection, I need you drop into Late Night DJ Voice and start asking questions:
- Do you know what happens if your policy hits its max?
- Are you prepared to pay out of pocket or have your wages garnished if your policy expended itself?
- How would you pay for the difference?
Make sure you use Late Night DJ Voice!
Then remind them it's only $8 per month to improve their coverage and that means you both can rest easy!
When dealing with coverage improvements and cross sells I want you to expect the no! And work to maneuver around it. Remember, most people don't even know what they are saying no to.