Most of us want to save money on our auto insurance premiums. We expect our insurance agent to help us do it. So, if it is your job to sell policies, then you've probably gotten questions about savings from your prospective clients. One of the first things you should tell them to check out is policy discounts. Why can these be so easy to obtain? How can you encourage clients to keep them active?
Auto insurance discounts can save clients a small fortune if used correctly. Don't hesitate to tell your clients about the plethora of options that their policies might offer.
Discounts Can Help Any Driver
Not all drivers can get insurance discounts. Insurers frequently award these to their clients with the lowest driving risks. Still, those who have high risks of accidents might not qualify for these savings. Nevertheless, there is an opportunity to get discounts regardless of record, and you should indicate that to your clients.
Insurers tend to reward their most loyal and reliable customers. Therefore, even if a client doesn't have the cleanest driving record, they might still qualify for discounts. If they keep their insurance in good standing, then they might accrue savings.
Some of the reliable customer discounts insurers might offer include:
- Returning Customer Savings: If your clients carry a policy with the same insurer for multiple years, the provider might reward the client's loyalty with savings.
- Automatic Payments Discounts: Insurers require their clients to pay premiums for their plans. If clients let insurers automatically deduct premiums from their bank account each month, they reduce your risks of a policy lapse. That could lead to savings.
- Automatic Renewal Discounts: Insurance plans will expire after a set period. Some roll over annually, while others do so semi-annually. If clients allow their insurers to automatically renew their coverage, they lower the risk of a policy lapse. Therefore, your insurer will have to spend less to cover you.
- Pay-In-Full Discounts: If clients pay their whole policy premium at one time, they’ll get payment out of the way. They won't have to pay again for the duration of a policy's term. Therefore, they'll have no risk of skipping payments and facing policy lapses.
Perhaps one of the best ways to keep payment discounts active is to always pay the premium. If clients skip payments, then their risks of letting your coverage lapse will rise. That might lead to higher prices and discount expirations down the road. You should therefore encourage your clients to keep their policy active in responsible ways.