Responses to Common Price Objections

1. What are you comparing that to? (Response to “the price is too high.” Could be a neighbor or older car premium. Review coverages, limits, company financials, services, etc.)
2. Can you afford not to have it (the coverage)? What will you do if you have an uninsured loss?
3. Do you have enough money to restore, rebuild, or replace what you have if you have a loss?
4. We can raise your deductibles, but please be certain you have enough money to cover it when you have a loss. Difference in cost between 500-1000 is only ________. Decide if it’s worth it to raise your deductible.
5. Let’s take a minute and review your coverages so you can tell me what you don’t want. Have the insured sign a waiver of coverage form.
6. Most people don’t realize they give up defense coverage if they drop or cancel their (liability) policy. In addition to bodily injury and property damage, this policy also provides for legal defense if the other party involved files a lawsuit against you.
7. We can look at moving your coverage to another company for this policy period. However, there is no guarantee that the new company won’t raise their rates the next time around. As part of the underwriting process, many companies review how often an insured changes carriers. This could affect future premiums and insurability.
8. Before we change carriers, I’d like to review with you why we placed coverage with ________ originally.
9. I love those commercials! We (independent agents) are very different than _________ (direct writers/online insurers). Since that’s the company you’re interested in, please let me tell you what sets us apart. (Local office; personal relationships for policies, changes, questions, and claims; represent many companies, advocate and intermediary for you when there is a claim, etc.) Please note: I highly recommend you do your own mystery shopping! You’ll be surprised by your experience with the companies that have the clever commercials.
10. We can lower the premium on this policy by writing additional policies with the same company. They offer a multi-policy discount. May I review your (automobile) policy to see if writing both coverages makes a difference in your overall cost?

Emily Huling, CIC, CMC
Selling Strategies, Inc.
PO Box 200 Terrell NC 28682
Phone 888-309-8802 mobile 704-516-5114
www.sellingstrategies.com emily@sellingstrategies.com

Updated 2016