Dear Insurance agent losing business to me;

I hope this finds you doing well.  It’s been a bit and I know things can be tough for some of us.  Safe to say it could be more challenging now than when you started in the business.   Honestly, if there was an insurance police this would be something they would want to know about, but since there is not I’ll just write this note to you.

For a while, I honestly thought it was mostly the on-line quoting machines that were making such a simple mistake.  Than I started to see more and more captives acting this way.  Yes, indpendents are not completely innocent but  I don’t take as much business from independents.  I’ve always wondered if it was 1) a mistake 2) a lack of knowledge or worse 3) a mandate from the company they work for.  In the case of the local captive agent, I am guessing it is more of a product of desperation. Really needing every phone call to result in business so you cut corners.  You cut corners you wouldn’t cut for your family but would do it in the name of  “low rates” or worse binding a policy today for a commission or some sort of contest.

Here’s the thing, by short changing your customer, you are actually short changing yourself.  In the short term you are costing yourself commission and potentially your customer some much needed coverage.


Honestly, I have no idea.

Now take this from the sales side.  If your fellow agents are doing things one way, why would you want to go down to their level?  You wouldn’t!!!!  So please stop doing it.

How do you fix this?  Simple.  When you are quoting auto insurance, whenever possible you provide the same amount of supplemental un and underinsured motorist coverage as the liability coverage you are providing.  Really not hard.  If you are quoting $500,000 in liability, you quote $500,000 in un/underinsured motorist.  SIMPLE, now just do it.  EVERY TIME.

  • it’s the right thing to do for your customer
  • it’s the right thing to do for your family
  • it’s the right thing to do for your top line
  • it’s the right thing to do for your bottom line
  • it’s the right thing to do for society
  • you’ll close more deals because you’ll stand out
  • you’ll make the industry better

Seriously, if you need more reasons it might be time for another business.  Anyhow, happy selling.




The agent taking your business

What professionals do you see each year?

So the obvious one for most people is the doctor, most insurance companies pay for an annual physical so hopefully you use it.  How about the accountant who does your taxes?  If you use a financial planner I hope you are checking in at least once if not twice or even four times a year.  You probably even see the dentist once a year as well.

Why not your insurance consultant?

Insurance is the foundation for any financial plan.  That’s right any financial plan that is expected to work has insurance as some piece of it, more than likely it is the foundation.  So yes, your insurance consultant should be on your list of annual appointments.  It may actually be shorter than any of the others, possibly less intrusive and should cost you nothing.  You might even be paid to make the appointment if you are able to find some savings opportunities that weren’t available the year before.

So, as you plan out your year, about 30 days before your renewal get in the calendar for your insurance review.

UPDATE 6/8/2015

This is as true as it has ever been.  Reality is you can think of the personal and commercial insurance markets along similar lines as the stock market or other financial markets.  Almost constant flux which seems to be dictated behind closed doors by people who have not adapted to the consumer buying patterns of 2015.  The fact is this; if you go any more than a year you are at risk of overpaying for your basic insurance needs.

Why would you want to or worse why would you willingly overpay for anything?

Well the fact is the convenience of many things as well as the laziness inherit with others certainly contributes.  But, if done correctly, your time contribution each year should be less than sixty minutes.  In all likelihood less than thirty minutes.  Consider that you should find a $200+ savings and I would say it is likely worth your time.

Just some thoughts.  Check ups are good even if they may seem like a nuisance.