Sometimes, it’s the little things that count. As an insurance agent, you might spend the majority of your time trying to look at the big picture and keep all the bases covered for your policyholders. However, at the time of a claim, it’s time to get up close and personal, and make sure your clients are taken care of.
When your policyholder needs to file a claim, they may be in a crisis. When dealing with an auto accident or a home fire, your client doesn’t remember that they were in a big hurry when they purchased their policy and weren’t overly concerned with the details at the time. They just know they need help – now.
That’s why, as agents, we have to remember that although it’s convenient, and quick and easy to sell a generic package policy, each individual policyholder has specific needs and requires unique protection. As a trusted advisor, you have to learn to drill down and find out what areas in your client’s life are most important and may need additional coverage. Endorsements can be added to most package policies in order to expand or add coverage. In our office, we feel that when we can tailor an insurance product to a client’s specific needs, it not only keeps them better protected, but also instills confidence in our ability to serve them over time.
Here are a few things to think about each time you write a personal lines policy:
Always offer both auto and home coverage, even if a discount is not available. Having one agent handle both the auto and home policies reduces the chance of gaps in coverage. For the customer, the convenience of having one office handle all their service needs is an added bonus. Plus, many companies today do offer a discount for multiple policies.
Offer your auto clients residual debt coverage. In addition, the clients should have the opportunity to consider glass buyback, towing, rental car, customization coverage and death and dismemberment.
Let Homeowner policyholders know that they can increase limits within their package policy. Coverage areas to consider include building code upgrades, contents replacement, extended replacement cost, glass buyback, identity fraud coverage, additional coverage for earthquake or flood damage, or increased limits for jewelry, guns, or other valuables.
Many carriers today offer homeowners warranty coverage to cover the inner workings of a home, and mechanical breakdown insurance to cover the health and maintenance of a vehicle. Many of your policyholders will feel safer and more secure by having such coverage in place.
Always offer umbrella coverage to round out the personal lines account. Remember, you are in the protection business. You will want to make sure that the assets of your policyholders are adequately covered.
Today’s professional insurance office is not a one-dimensional product peddler, but rather a total solutions provider. It’s not just about selling policies. It’s about serving the best interests of your clients. You need to ask questions, get to know your customers and discover what they own and what they owe. As an agent, it’s your responsibility to inquire about policyholder needs that may not be apparent. That unseen need may not seem important at the time of the sale, but likely will be at the time of a claim.
If you are ready to take your agency to the next level, I am dedicated to helping you get there. At Korsgaden International, we offer Complimentary Training Videos to help you grow and increase your agency’s productivity.
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