I know this might sound repetitive, but how can I answer the classic question, “Why did my premium go up when I’m such a good driver and have been with you all for years with no accidents?” Other than saying the usual “rate increase” or “cost of living,” what else can I tell them? I feel like I’m saying the same thing every renewal, and they’re probably tired of hearing it too. Any fresh ideas would be really helpful!
I just try to keep it real with them. I’ll say something like, ‘The economy’s been rough, and inflation hasn’t helped. Material and labor costs are up, so even a windshield replacement costs about 20% more than before. Hopefully, things settle soon. In the meantime, we can review your policy and see if there’s any way to lower your premium.’
I also remind them of any discounts they have, like for being claim-free, which sometimes helps. It’s a tough answer to give, and after saying it so many times, I feel like a broken record, but keeping it honest usually goes over well!
@Tobi
Check their age, too, because liability rates tend to go up after they turn 75, which can affect their discounts. Sometimes, if the client has a long history with Allstate, you can even reach out to underwriting for a little discretion.
@Jin
Thanks for that tip! I didn’t know about the age factor. Starting with Allstate in November, still with State Farm right now!
Pretty much what he said. We keep it honest, and sometimes I’ll mention available discounts to show we’re looking out for them. If there’s nothing else I can suggest, and they talk about switching, I’ll let them know that checking around might be worth a shot, so they can see it’s an industry-wide issue. That way, they know it’s not just us.