Submit to Bind

Presenting Vs Telling the quote


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 Are we the most spoiled sales force in the world? Our clients literally require our products. Because of this we can easily have contempt for our position and get lazy. If you were in an industry where you had to convince your clients to be in the buying mode at all would you step your game up?
As licensed agents however we have a responsibility to not only offer our clients products that meet their needs they inform us of but also to uncover needs they didn't know they had.  We will discuss fact finding in another episode where we talk about asking open ended questions and how to relate those to a prospects need but for this episode we're going to cover presenting the quote in a way that expands the clients mind to not only require the our policy but now to want it and want it to be right.
Once again its always important to frame the call at the beginning so the client knows what to expect. Traditionally I would either ask the prospect their level of knowledge about home insurance or if they are a first time home buyer and no matter their response I will follow it up with “okay great then I will just go over these coverages line by line real fast, so we make sure we have the coverage correct. After that we can make any adjustments to the quote and then decide how and when to get things started”  Im not asking for consent I am telling them were going to go over this together.  
Now that we have framed the call I will usually go down the quote whether it be home or auto and describe the coverage but then relate it to a story about “how” it protects them. It doesn't have to be a real story but it needs to be a true story.  As I go down each line I break down the name of the coverage, how much and then how it relates to them. If it s a home quote I will start out by explaining the diffeAs sales people it is our job to find ways to relate our products to our clients needs. Most of the time our clients require our products by law or in conjunction with another financial transaction so there is not a huge need to convince someone to buy or not to buy our products but rather what and from whom they should buy. rence between a broad form policy and a basic so they know the difference. If its an auto I might explain that even though the industry calls a policy “full coverage” that no policy actually covers everything but we will make sure they know what they are covered for.
Example 1:Mrs. Johnson real quick before I get started I wanted you to know that this quote I did is a broad form policy. There are two main types of policies. A basic policy is where the coverages are listed and that's all that is covered. If its not listed its not covered. As well what you have here is a broad form coverage and its the exact opposite as a basic. We list some exclusions: Usually these might be 1) flood, if you want coverage for rising water we need to get you flood policy. 2)Acts of war, if there is a war in this country and your home is damaged it's not covered. 3) Deterioration over time, we don't insure your home getting old and finally we don't cover you burning down your own house. There are a couple more exclusions but besides those exclusions everything else is covered. In this example I want them to be thinking in the framework of doubting what they may have now and “Why wasn't I told this before?” I will give line item about the policy and then describe it with a story. Let's look at coverages next.
Example 2:
  1. The first line is the dwelling amount and I have that set for $250,000. This does not include the land and is only what the estimator determined it would cost to build your one home in between 5 other homes on the same slab that is there now. Does that sound like enough coverage?
  2. Next is other structures. This covers your fence, gazebo, pool or shed that is not attached to the home. I did not see anything in the pictures I saw so I reduced this down to $5000. Your garage is attached by a breezeway so that was included in the Dwelling amount. Did I miss anything else that needed coverage?
  3. Next is your contents. This is a coverage for your things inside the home. The things you would take with you if you sold the home. I have the quote set at 50% of the dwelling amount so that would be $125,000 for contents. Does that sound like enough to cover you if you had to re-buy everything you owned? Every sock, soap dish and pair of pants brand new.

In this example I list the coverage's name, the amount and then a little story putting them in the shoes of my character, so they have to decide for themselves if that is the right coverage.
Closing:Presenting your product is where you get to shine and show your client value. Telling them the carrier name, deductibles and price is just the highlights of the product and if you are in the game of getting the best price only than maybe that works for you. A true sales agent does both. They find the right value for the client by involving them in the decision and quote building process. 
 
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Submit to BindBy Jordan Draper

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