If Insurance Had Coupons
Don’t you just wish that insurance had coupons? Think about it. How awesome would it be when you were renewing your existing policy or purchasing new coverage if you could hand over that little slip of paper with the dashed border and receive 10% off your insurance! That might just change the insurance landscape quite a bit. Let’s look at what some discounts might possibly look like just for fun.
- Buy One Get One free- if you buy a homeowners policy, you get the first auto insurance policy free
- Rewards Benefits – Pay for 9 months of a policy on time and get the remainder of the year free
- Punch Cards – each time a new policy is purchased your agent will punch a hole in a special punch card. When you reach 4 paid policies, you get the 5th policy free
- Coupons – look through the Sunday paper for coupons that might include lump sum payments or percentage discounts if purchased by a certain date
- Freebies – with the purchase of any policy you would receive a free gas card or perhaps a dinner for two at the local steakhouse
- Referrals – I would personally be great at these! Refer someone you know who takes out a new policy and receive a credit good toward your next renewal
These are all awesome ideas and fun to think about but step back for a moment and think about what would really happen if we really did business like that. Selling an insurance policy would become more about the: 15 minutes invested just to save 15% or more and let’s face it, not all neighbors are good ones. Insurance should not be all about how much money you can save. What you need to remember is that saving money can actually end up costing you money. What do I mean by this? Well, if you eliminate certain coverages on your insurance just to save a few bucks you will be a happy camper until of course you have an incident that is no longer covered, but was, and now you get stuck with the bill.
You might be motivated by a higher collision deductible option. That is a great idea until you have to file a claim because you rear ended someone who decided to stop short in the middle of the road for no apparent reason. Chances are that you won’t be smiling as big as you write the much larger check to cover that higher deductible you were so happy about.
Insurance should not be about coupons and discounts. It should however be about having a company that has your back. An agent who is working for you to ensure that you make the right decisions for the right reasons which will benefit you today, tomorrow and in the future. At FBinsure we have a fundamental belief that the traditional insurance buying process is flawed and ultimately harmful to consumers and businesses alike. This is our guiding principal and imprinted right across the home page of our website. It is the principal reason we do business the way we do and why we have long-term customers and grow our business without in-your-face advertising that draws you in with promises of savings.