Selling Insurance Before & After A Storm

Hurricanes and other types of storms can be a problem for people in many areas of our country; those who are directly affected by them, especially multiple times a year, will want to protect their home, business, and assets. In order to do this, they will want to buy property insurance, flood insurance, and homeowners insurance. While insurance companies will not sell policies right before a storm, during a storm, or directly after a storm, there are multiple opportunities for you to sell insurance products and help customers who are affected by major weather events.

Flood Insurance

houses with water rising in a large red triangle sign
Homeowner’s insurance does not cover floods, clients will need a separate policy for that.

Floods can happen almost anywhere in the U.S. at any time, even in houses that have never flooded before. Homeowners insurance does not cover flooding, which is why your customers will need a separate flood insurance policy. The problem is, though, that you cannot sell a flood insurance policy right before a storm because the policy will take 30 days to go into effect. If your clients are interested in flood insurance, make it clear to them that the policy will not cover any damage until the 30 days have passed.

Selling Before A Storm

There is one thing you can do for your customers before a storm. If your customers have any existing policies before a storm hits, you can increase their limits and help them save money that way. As long as you are compassionate and tactful, you can use this time to upsell and help your customers get through the tough time after the storm. If a major storm hits, the damages could exceed their limits, meaning they’ll have to pay more money out-of-pocket to make repairs and replace damaged items. If you upsell their policy, they would end up saving money because their increased limits would cover them if they needed to go to a hotel while their house is being repaired, or if they needed to temporarily close or relocate their business.

Keep in mind, though, that insurers will stop selling additional coverage if there’s a hurricane watch, which will typically be announced 48 hours prior to the storm.

Another way you can help customers is by cross-selling in order to make sure they have comprehensive coverage for all types of damage. For example, if they have homeowners insurance, check if they have coverage for wind damage; if they do not, add it, and increase their coverage limits for their home and belongings. The same goes for a business: make sure they have enough property insurance in their BOP, and add professional liability in case they are unable to render their services or need to break contracts because of a storm.

Be Transparent

two hands shaking Your customers will be dealing with many emotions with a storm coming their way, especially if it looks like a major storm. In order to keep your customers, and win new ones, you have to be transparent with them. Tell them what they can expect with any new policies, and if you cannot sign them up in time, make sure they know that. Make sure they know if a policy will not go into effect immediately. And most importantly, show them that you have their best interest at heart by providing them with the coverage they really need, and that you are not just trying to make a commission. You know the insurance companies’ rules and regulations surrounding storms, so make sure you provide your customers with all the correct and truthful information.

Selling After A Storm

Some states will not sell certain policies weeks after a catastrophe happens, so you need to be clear with your customers about this. When the time comes that you can add insurance to their policy again, you can discuss options and price, and help guide them to what they will need should another storm or flood hit. Offer to bundle flood or wind damage insurance and add it to their homeowners policy to help them save money. If their current carrier won’t do this, take the opportunity to find another insurance company for them with the same plans and better rates.

Depending on where you live, storms can be catastrophic. Some customers might be unprepared for a major storm that causes damage to their home or business. This can leave them feeling lost and hopeless, but as a good agent, you can change that. You can provide your clients with enough coverage so they are prepared before a storm happens. Make sure you convey to your clients the importance of having enough insurance before a storm actually hits, so they can save money and not lose everything they worked so hard for. Remember, it’s not about the commission, but about compassion.

The 4 Customer Personality Types & How To Sell To Them

When you get into the business of selling, one of the best ways to become successful (aside from a great marketing strategy) is to learn how to read people. Learning different personality types will help you understand which types are easiest to sell to, and how to bend your selling strategy to appeal to the more complex customer. In general there are 4 different personality types that you will come across when selling insurance, and if you adapt your strategy to their personality type, you will better understand each one of their thought processes and be able to sell to them easier.

caucasian woman with a straight face
The assertive type know what they want, it is best to be direct with them.

1. The Assertive Type

Assertive buyers know what they want and will let you know it. They come off strong and want to be in control, and will take risks for a great reward.

The best way to work with assertive people is to let them speak and not interrupt when they are telling you what they are looking for. They want efficiency, so don’t waste your time repeating facts or building up to your point with them; instead, cut right to the chase. Be direct and speak in 2-3 sentences at a time.

2. The Analytical Type

People who are analytical like to do their research, and are more concerned with facts and data than others. They like to take their time making a decision, and will only do so after reviewing their options and weighing the pros and cons of each. Don’t be surprised if they already know a lot about different plans when you speak to them.

All of this means that this type of buyer won’t care about personal recommendations, they will want facts and prices. When working with an analytical type, provide them with detailed information, and stay away from emotions. Don’t rush them, and allow them to take their time to process the information you give them. Set up a follow-up appointment in order to give them time to make their decision.

3. The Amiable Type

african american woman smiling
The amiable type are friendly and value a connection, so build a rapport with them.

People with amiable personality types are friendly and value personal connections and relationships. They are not big risk takers, but are open to suggestions and are easy to please. Because they are so friendly, they are more likely to open up and share information. They will listen and will ask more personal questions in order to get to know you better as a professional and a person.

When working with an amiable customer, you will need to build a rapport and relationship with them. Reassure them that you will help take care of them and supply testimonials from similar clients who found great plans they are happy with.

4. The Expressive Type

Expressive people are emotionally driven buyers who make decisions based on their feelings. They are outgoing and tend to be people-pleasers, but also like to look at the bigger picture and understand long-term benefits. If an expressive type trusts you, you will have a client for life, but if you do not keep the personal relationship going and continue to check on them, they will take their business elsewhere.

The best way to work with expressive customers is to reassure them that you are looking out for them; you can do this with testimonials and reviews. You don’t have to focus too much on facts and figures, instead focus on your personal connection and remember to keep the relationship going.

In the sales world, and especially in the insurance industry, you will serve all different types of people and personality types. You will come across some of the personality types mentioned, and will also come across some people who are a mixture of these personality types. The key to being a good insurance salesperson is to adapt your sales approach. Once you are familiar with these core personality types, you can tailor your selling strategy to fit any situation.

Cross-Selling Tips To Generate More Revenue

While selling one or two insurance products will generate revenue for you, adding more products will really increase your revenue. Cross-selling insurance is a sure way to make more money because, when it comes down to it, you are more likely to sell to an existing customer than to a new lead. Existing customers have already committed to working with you and trust you to deliver solutions for their insurance needs. In addition, you’ll end up making more money by selling to your current customers, because it costs 7-9 times more to attract a new customer than to keep an existing one. But before you can attempt to cross-sell to your existing customers, take a look at the following strategies for best helping your customers.

1. Know Your Customers/Build Relationships

caucasian woman in a business suit sitting down with a laptop on her lap with a cellphone to her ear smiling.

Don’t just focus on trying to make sales, build solid relationships. You’re more likely to keep your customers, and have an opportunity to cross-sell to them, if you take the time to build personal connections with them. When you take the time to get to know them, you learn what their needs are. If you know them well and know what is happening in their lives, you’ll be able to offer more coverage down the line.

2. Use Agency Management Software

76% of agents use sales technology to increase efficiency. If you don’t have customer management software that helps keep you organized and keep up with your customers and their behavior patterns, then you should consider investing in it.

3. Email Marketingcaucasian hand typing on a laptop keyboard with email drawing going towards the screen.

Many of your current customers are most likely on your email subscription list. In addition to using emails to alert customers of any changes to policies, or to send them relatable information/articles or holiday and thank you emails, you can use your emails to cross-sell. Reach out to your customers with different insurance policies they should look into or you think would benefit them. It puts the thought out there, makes them think, and possibly makes them the perfect candidate to cross-sell to.

4. Focus On Service Calls

Take opportunities to cross-sell to your clients when they arise. If they call or drop by to discuss their account or change their policy or information, take the chance to assess their needs and offer them insurance products that can benefit them. Go through their profile, look at what coverage they have, and see what other coverage they might be missing. Talk to them about how they might be able to save money, because everyone loves to save money!

Cross-selling insurance products to your existing customers can both help your clients and help your business grow. Your customers will remain loyal and trust you to provide them with valuable insurance based on their needs. And the one thing loyal customers bring in is more business!

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