How to Sell Insurance on Value and Not Price
Tips for how to sell insurance on value and not based on price.
A professional insurance salesperson 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 based on price rather than on the valuable coverage that individual is getting, you will attain little success. While all of us have customers who look at the bottom total before anything else, there are ways to sell insurance on value – even to those with a tight budget.
Talk About Claims
When someone comes to you looking for a cheap insurance policy, it’s your job to make them recognize the fact they’re making a decision about more than just how large of a check they’re going to write every month. Take the time to explain the coverage that they’re getting in return, how they’ll be protected, and how smooth the claims process can be. It’s best to get people thinking outside of the price box by talking about claims.
Educate Your Prospects
No matter what your prospects tell you, most of them don’t understand how insurance works. If you can explain it to them (without appearing condescending), you’re already providing an incredible amount of value. When clients see how well you understand the industry and take the time to explain coverage, they’ll feel reassured in their purchase.
When you identify possible discounts, you’ll see the prospect’s eyes widen. Explain how much money each discount saves, why they qualify, and why the carrier offers the discount. People love saving money, so be sure that you explain possible ways for them to do so!
If you’ve been in insurance for a while, find ways to tell prospects about your experience. You can reference an industry that your prospect is in to make it more relatable to them. If you’re just starting out, work in how long the agency has been serving customers.
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