'I Already Have Insurance' and Other Stupid Objections

[DHK]

"Great! What kind do you have?"

(regardless of answer)

"This is about insurance, but it's not what most people think. Most people get our insurance for a very specific reason. When would be a good time to come by, show you what I've got, compare it to what you've already got and you can judge it for yourself?"
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Most people don't want to feel stupid by someone in regards to a previous buying decision. Plus, if it's a cold-call, you don't know them, and you don't know their agent. It's kinda stupid to assume that you already know everything about their coverage. (And I know it's even more stupid to think your prospect knows or cares about everything you know about this type of coverage.)

Keep it simple and friendly. Do a little "judo" prospecting where you don't come at them with a ton of bricks. Use their own energy against them so you (and they) win! Otherwise, you're just wresting with them to the ground... and IF you get the sale, it'll be a very tiresome way to do it... and you might not be invited back.

 

[stuy119]

Makes me want to reach through the phone and do something. What are some of the most aggressive effective counters possible? Only an agent can bust up decades of conditioning from ridiculous carrier marketing that has debased the field and makes people view insurance as unimportant.

In other words, how hard can one crack a prospect without getting a complaint? Judgement call on whether to keep the possibility of a case in play.

What type of insurance are you selling? That will determine what answer you use to overcome their objection of "I already have insurance."

 

[Guest]

Well, how many people still cold call?

I DONT.

How do YOU react when someone cold calls you?

 

[oicu812nbama]

if you look at it like you are qualifying them instead of the other way around, you will be more relaxed.
one lady told me that she had a need, thought my price was excellent, but her dog had cataracts. normally i would have moved forward, but for kicks i took her some drops for her dog. one of my biggest individual sales
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Well, how many people still cold call?

I DONT.

How do YOU react when someone cold calls you?

ask them for their home number, so i can call them back later.

 

[Josh]

Well, how many people still cold call?

I DONT.

Quite a few. Entire companies and agencies are built on cold calling. Entire companies are built around providing sales people with tools to cold call and they thrive. There are lots of P&C shops that do very well with cold calling.

But it doesn't work, so you probably should continue to not do it.

 

[sellinmachine]

It is about engaging people, best opening you ever have is the conversation they offer to you. "I already have insurance," is likely what got rid of the last insurance person. So they will use it again, and again and.......

"Fantastic!! I wish you had time for me to tell you of those who seem not to think ahead. My highest complimenats to YOU! How long have you had yours?"

Now you're leading them into a converssation that they started. Step up, be a salesperson and lead them to telling you what you NEED to know!! Find their vulnerablity. That is exactly what the person did that got at least one previous sale. "Being a salesman means more than picking cherries, sometimes we have to settle for the prickly berry patches to succeed in feeding ourselves."

 

[rousemark]

Well, how many people still cold call?

I DONT.

How do YOU react when someone cold calls you?

Usually receive them well if they knock on the door... Get rid of them as quick as possible if they call on the telephone.

 

[Stephen]

Was it someone on this board that said:

"some will, some won't, so what! Who's next?"

 

[Full Throttle]

Services I have bought from a cold call in the last 24 months:

1. IMO relationship.

2. Asphalt resurfacing service.

3. Newspaper subscription.

4. Got a bid on some home construction work that was beyond what I could do, but they were not competitive. Otherwise, they would have gotten first crack at it.

5. Sprinkler lines blown out for the winter.

6. Multiple kid fundraising programs. I'm a sucker for them! I remember doing a lot of it as a kid.

 

[theinsuranceman]

What type of insurance are you selling? That will determine what answer you use to overcome their objection of "I already have insurance."

Best answer so far. The answer to your question is what you need to proceed in an effective manner.