What’s most important to cover in a sales calls with auto insurance leads? Is it price? Features? Benefits? Frankly, the most important questions are often the most practical. Whether you bring them up, or they get asked by your aged auto leads, the following six questions are some of the most important details to cover.
Terms and Conditions for Benefits
All policies have terms and conditions under which benefits are paid out and not paid out. But all policies differ on what those terms and conditions are. Agents must cover upfront the necessary conditions that entitle the client to be able to claim benefits under their chosen policy.
Be prepared for leads to take a roundabout path to this topic. They might give you a far-fetched hypothetical. Answer that question and then move into a deeper discussion about all of their policy’s terms and conditions.
Auto Insurance Discounts
Many folks buying an auto policy with a major carrier will be eligible for insurance discounts. Moreover, clients want to feel like they’ve gotten a good deal, with all the “bonuses” they are entitled to. An agent should be able to give insight on how customers can reduce their coverage expenses, such as keeping a clean driving record.
Aged leads may ask about discounts in a number of different ways. Be attentive to clues that your lead wants to know about pricing discounts — this is a good sign you are close to a sale. Bring up any special incentives or discounts your carriers offer, such as safe driver usage-based insurance (UBI).
Comprehensive and Collision Coverage
Comprehensive and collision insurance is a sound investment for many drivers. But in many states it’s not required, and in some client circumstances, it’s probably overkill. Liability insurance, which protects a driver who causes harm to people or damage to property, is what most people think of first when they shop for car insurance.
The comprehensive and collision coverage discussion should come up any time a lead starts asking about the cost of their deductible, what will happen if their car is totaled, and the value of their car. Agents should help leads understand when this coverage is a good investment — such as when they have a $40,000 vehicle — and when it’s not — such as when their car is worth $2,000 and they have a $1,000 deductible.
Uninsured and Underinsured Motorist Coverage
Uninsured and underinsured motorist coverage must also be part of the conversation. This can be a particularly important add-on for clients worried about being in a serious wreck caused by an uninsured, or underinsured, motorist.
The key signal for this conversation is when a lead asks about coverage for medical expenses. Though comprehensive and collision gives the impression the coverage is all inclusive, that’s not the case for medical bills. Agents should explain uninsured and underinsured coverage options, noting especially when a policy doesn’t have a deductible and how it can protect policyowners.
Totaled Car Compensation
While it may come up in other related conversations, many owners of expensive or unique vehicles will want to know how much their benefit will be for a totaled vehicle claim. For most policies, this will be the actual cash value (ACV), that is, the depreciated market “blue book” value of the vehicle. In some limited circumstances, say a classic car, a policy may be issued for “agreed value”.
No matter what kind of car a lead has, the subject of a totaled car payout shouldn’t be skipped over. Clients have a right to know the terms of the policy they’re buying. Agents should explain how an insurer will determine benefits in the event of such a claim.
Another simple, but often overlooked discussion topic, OEM parts are original equipment manufacturer parts, made by the same company that made the car and to the same specifications. Many low-end policies don’t cover OEM parts, instead fulfilling accident claims by covering the cost of generic replacement parts.
Some drivers may be concerned about the quality or durability of less expensive non-OEM parts, and in some cases it could be valid. Policies do exist that cover OEM parts, of course. So if this is something your aged lead brings up, you can guide him toward a policy that suits that need.
By covering these six important questions in all your sales calls, you can be sure all your aged auto leads are getting the info they need to pick the right coverage. “When in doubt, ask” is a great policy for auto insurance shoppers, but to that I would add, “When the lead doesn’t ask, just tell them.”
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