Agency Performance Partners


[PODCAST] Explaining Why Insurance Rates Have Increased | Hard Insurance Market

Posted on June 5, 2023 by Kelly Donahue Piro

Explaining why insurance rates have increased can be a bummer – until you watch our podcast!

Do you have a clear script for explaining rate increases? With a hard insurance market explaining why insurance rates have increased is becoming a daily process. All too many insurance agents make rate the boss of them and get anxious, nervous and scared when discussing insurance rates with clients. We like to say – Starbucks doesn’t apologize for an $8 coffee but when it comes to insurance we get shy about talking about protecting what people work hard for.

We will be reviewing how to have the conversation about insurance rate increases. There are two important factors that are important other than the scripted words we use. First, your tone of voice – you need to be calm, slow and soothing. If you use customer service voice when explaining rate it can turn people off! Second, pretend you are on Jeopardy. Work to give two sentences and a question to your insured. This is a great way to engage them make sure we do not talk over your client’s heads. Remember, when you confuse you loose your clients.

Learn about the following in this podcast:

  • Question or Request?
  • Review vs. Remarket
  • Work to get something from the interaction
  • Tone of voice
  • Monthly figures
  • Percentage increases
  • The importance of silence

When used correctly this insurance rate increase script will help you explain rate, avoid the remarket and help your client understand why you are the best insurance agent for them! Don’t let rate be the boss of you!

APP Resource for Explaining Why Insurance Rates Have Increased

👉Sign Up for the Hard Market Hero Series

🎧Subscribe & Listen to Our Podcast

👕 Show off your Hard Market Hero swag

Book An Appointment