Agents often turn to auto insurance leads because landing auto policy sales seems faster and easier than going after larger home or even life policies.
However, if you stick with auto insurance leads alone, it may be more difficult to see an up-front return on your investment –especially if you end up writing a large amount of mono-line auto. When policy premiums are modest—like they are with most auto insurance plans in many states—you’ll generally have to find several mono-line auto buyers to equal the premium you can write with one average sized home (or one multi-line auto + home policy) .
It’s no secret that home insurance policies typically have a much larger annualized premium. This means more money in your pocket with fewer sales and a larger reward from renewals down the line. If you’re willing to put in the effort to lock in just a handful of home insurance customers, you can start seeing ROI relatively quickly.
The economy poses specific challenges right now. Home prices have skyrocketed, interest rates are high, inflation has made potential home buyers tighten their belts, and relatively fewer people are buying new homes at the moment. It may sound like a terrible time to pivot into selling home insurance, but actually, a golden new opportunity just opened up:
More and more people have started filling out forms online and making phone calls, expressing interest in changing to a new home insurance policy.
People who bought homes a few years back might not have thought twice about opting for whichever insurance policy their mortgage broker recommended. But now money is tight for many recent homebuyers, and these folks want to shop around for a better deal.
As an insurance agent, you have an unprecedented chance to contact these highly motivated customers as soon as they show interest. EverQuote will send you leads directly from people who have already begun the shopping process. These prospects are actively seeking more information about home policies, and with EverQuote, you’ll be able to step in and connect with them at just the right time.
It’s fairly well known among insurance agents who sell a lot of home policies, that cross-selling from home to auto is generally much easier than cross-selling from auto to home.
Once a person has taken the emotional leap to trust you with their most valuable possession—their home—and you’ve gained their appreciation by explaining the complex details of a home insurance policy, it’s relatively easy to explain why it would be beneficial for them to bundle their auto plan in with their brand new home policy.
In other words, you don’t have to give up on selling auto insurance! You can actually use warm home insurance leads to sell more auto insurance than ever before.
Getting the personalized assistance you need with the lead-buying process will help you hit the ground running so you can start growing your book and scaling your business more effectively.
Contact us here, and one of our experts will be in touch shortly.