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If you’re an insurance agent, you know that leads are the foundation of a successful insurance business. Without them, it’s virtually impossible to grow your client list and make any meaningful income.
Luckily, good quality home and auto insurance leads provide nearly limitless opportunities providing agents a way to improve their skills while building relationships with potential clients that can turn into long-term happy customers.
What is the best type of leads for insurance agents?
There’s no better way to jumpstart your success as an insurance agent than by utilizing both home insurance leads and automobile insurance leads!
Right now is the perfect time to fortify the number of homeowners insurance referrals you get from the mortgage pros in your area.
Yes… even though the housing market’s on its last legs.
Now, I’m willing to bet there was one MASSIVE doubt that sprang to your mind.
It probably went something like…
“What good are home insurance leads for agents if the entire housing market’s going belly up?”
Fair enough.
And while sure, there will definitely be less homes getting sold over the coming 1-2 years…
That’s no reason to believe you can’t still pivot to an almost entirely referral-based insurance agency.
Actually, it goes one step further…
The opportunity to build solid referral relationships – the ones that net you 9-10 home deals a month…
Is BIGGER right now than it’s ever been before.
Here’s why 👇
First of all let’s look at the stats.
Even if we slumped all the way down to 2008 levels…
We’d still be looking at a grand total of around 4 million homes sold.
In other words…
A lot more than what you’d need to hit $100K+ a year in home insurance commissions.
Wait.. thinking it’s not possible in YOUR specific area?
When I first went independent, I was driving 3 hours+ to meet with some of the top LO’s in all of Florida.
Not to mention you can get licensed in other states too.
The opportunities out there are abundant for those who’ve got the work ethic to go grab ‘em.
The only thing that will hurt most middle class insurance agents…
Is the massive ‘wealth transfer’ we’re about to see among Loan Officers themselves.
Where the bulk of homes still getting sold…
Are going to concentrate into the hands of the top 15-20%.
For example – what might be 1,000 Loan Officers operating in any given area right now…
Could easily drop down to something like 200.
With the remaining 200 swallowing up all the home deals that would’ve been shared among the 800 that perished.
So if any referral partners you’ve got now are in the bottom 80%…
I’m not sure how many referrals I’d be expecting from them.
At first glance this might all sound a bit grim.
But make no mistake…
There is massive opportunity for the right kind of insurance agent.
And here’s why:
LO’s and Realtors for the last decade have been enjoying a boom market.
Especially the top 15-20% performers in any given area.
So they didn’t need help from anyone else – especially not insurance agents – to sell loads of homes and close tons of refinance deals.
But now… that’s not the case.
And since it is true that less homes are being sold…
LO’s are open to hearing from insurance agents offering to help them take over a bigger piece of the market while it’s up for grabs.
“Cranking it up again!!!!”
…at a time when alotta agents would tell you home insurance referrals are a thing of the past.
The only reason those agents still don’t get the time of day from top LOs and Realtors…
Is because they don’t bring anything valuable to the table!
But imagine, on the other hand…
Reaching out to any decent LO in your area right now and offering them home leads?
…at a time where new business is harder to come by?
What kind of loyalty would that let you build with your referral partners?
Again, if you’d rather go back to the comfort of fear-mongers and agents telling you it’s the end of the world…
If that’s NOT what you’re looking to do.. I’m glad to hear it.
And I hope you’re starting to put together what a massive long-term play this could be for your agency.
There has simply never been an opportunity like this to get in and build the groundwork with 10.. 15… 20 or more top referral partners.
Not only will you insure the homes they’re still selling now while we’re in a slump..
But the real opportunity…
Is how by standing by those LOs and Realtors now while things are tough…
You get to build massive loyalty with them and form strong referral relationships that last for years… maybe even decades.
And then, when we enter the next housing market boom…
You’ll have already done all the leg work – and now just need to insure all their referrals.
You with me?
How to get quality leads for home and auto insurance?
The BEST business you can get as an insurance agent is referrals.
Right?
They’re already warmed up.
Skepticism is at a minimum.
And closing rates are much higher.
The only problem, for 99% of agents…
Is that they bring NOTHING to the table in return for referrals!
Aside from bagels, coffee, and if you’re a really nice guy…
Maybe you send out thank you cards with an Amazon gift card tucked away inside.
BUT.. here’s what Bobby and I decided to try.
Let’s take one of his already-working New Home Buyer lead funnels…
Collect the leads ourselves…
Then send them over as “bait” to a few Loan Officers in my area.
With the kicker being…
I’d ask them to send those leads back my way for insurance if they closed them on a new home.
And guess what?
It worked.
Not only did I get through to a ton of LOs and Realtors who never would’ve given me the time of day otherwise…
Most of them were shocked.
Telling me that they had never had an Insurance Agent come to them with that kind of offer before.
How do you convert home and auto insurance leads to sales?
One of the easiest ways to boost the # of leads you’re converting into new policies…
Is to make it as painless as possible for your insurance leads to get a quote.
This is especially true these days, with Insurtech companies like Lemonade taking over the industry.
If you’re still dragging your customers through a long-winded, manual process…
Going back and forth with them for a decade until they finally get you the right information…
Chances are you’re losing out on a lot of new business.
The stats show that every additional minute it takes you to hit a prospect with the information they want…
Your chances of eventually closing them drop by over 30%.
So the automation tricks I share on the Free Training should easily help you boost your cold-lead-to-new-policy rate by at least 50%.
Here’s some practical insurance-selling advice that everybody knows, but nobody takes as seriously as they should.
How responsive you are to incoming insurance leads makes ALL the difference.
I can only imagine (or hope) that’s not news to you…
BUT!
The definition of “responsive” has changed a lot over the past 4-5 years.
Today’s tech savvy customers want a quote to be as easy as ‘click this, click that, done’.
Anything more complicated and they get turned off.
That’s not just my opinion either…
Check out the pic below.
When a prospect for any business requests info, in our case a quote…
You are KILLING your chances of eventually closing them on a new policy with every minute that ticks by.
Unfortunately one of the big time crushers for us, has nothing to do with how fast we are on our end…
It’s the long back and forth often required to get the info we need from the prospect.
It’s frustrating for both parties…
Takes up a ton of time…
And justified or not, sets a horrible first impression for the client.
“If just getting a simple quote is THIS complicated… what’s it gonna be like if I have to make a claim? Pass.”
And this is where a microscopic % of agents I know are giving themselves a massive advantage…
Using a tool that deletes this problem altogether.
Basically, they’ve created a service where all the client has to do is open up an app and plug in a few simple details…
Then they take care of everything else.
Gathering ALL the info on your prospect’s current insurance policies in a matter of seconds.
…letting you shave as much as 10-15 critical minutes off how long it takes you to get back to them with a competitive quote.
And making the whole ordeal way more streamlined for your clients.
Now that you understand how important home and auto insurance leads are for your success as an insurance agent, it’s time to take action.
An automation system should be in place to quickly give a quote to prospects so you can effectively convert leads into sales.
And we can help you get set up with the right system.
If you’d like to see how it works in action from start to finish…
…From setting up an ad for lead generation for your referral partners
…To capturing lead information plus automating my follow-ups for quicker service.
…Plus, a new way to slash up to 15 minutes off the time it takes you to get a quote out, once a new lead drops into your pipeline.
Sign up for our free training today and we’ll show you how to effectively leverage home and auto insurance leads, increase your closing rate and grow your insurance business.
Nato owns Guajardo Insurance Agency. He learned the lessons he needed to learn so that his agency avoided the traditional ups and downs of lead flow and sales. He created Fully Covered to do just that. A methodology and system that provides predictable and automated online leads to insurance agents that have a passion for helping people.
Today, Nato runs his business together with his wife, Angelica, without the stress of finding the next client or worrying about if there is enough money in the bank. Plus, he gets to protect clients with our Agency and protect his peers through education and systems that took years to figure out on his own.