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4 Phrases You Shouldn’t Hear or Use in Your Agency: “Let Me Shop You”

Posted on May 11, 2022 by Alex Arellano

4 Phrases You Shouldn’t Hear or Use in Your Agency: “Let Me Shop You”

The next phrase we never want to hear in an independent insurance agency is “Let me shop you!” A lot of agents think of remarketing as the first resort, but we feel it needs to be the last. Here is why.

If someone is calling concerned about their rate, they probably aren’t in an amazing financial situation. Honestly, remarketing may not be the best answer for them, especially not homeowners.”

Feeding the Monster

When things aren’t going great (or inflation is super high), people look to economize. It makes sense. There are a lot of expenses that we face today and they aren’t slowing down anytime soon.

When you jump to re-shop someone, you are feeding that rate-hungry monster that doesn’t care about anything but paying less. Everyone reading this knows that a lower rate is not always in a customer’’s best interest, no matter what they think.

An insurance agent’s job is to know better.

Is it Really a Better Rate?

If someone is calling, concerned about their rate, they probably aren’t in an amazing financial situation. A remarket may not be the best answer for them, especially not homeowners.

You might be taking someone who is not in a great situation and putting them in a worse one.

“You want a better rate? A new company might require a $20,000 roof replacement before they even sign you. Would that help?”

Of course not.

Insurance Policy Review

We need to switch from automatic reshops to account reviews. There are a lot of options that help rate without having to touch reshopping.

And a short conversation reviewing their account will be a lot less of a hassle than the latter.

The customer often doesn’t know how useless reshops can be—but you do. So, it’s your job to direct them away from that and toward something more useful.

We created a guide for this conversation that you can check out here. Direct your clients toward something more productive than a reshop.

Discounts First, Remarket as a Last Resort

There are always new discounts coming up through carriers. We recommend that you have a discount guide for each one of your carriers so you can accurately and quickly know what is possible for your clients.

When you review their account with a fine-toothed comb, you’ll be able to find the opportunities to save them money. Only if you cannot find anything in discounts should you then go for the reshop.

That way, you have done everything you can to help them without taking it to a point of no return.

Independent insurance agents should only re-shop as an absolute last resort. 

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