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I am a seller and i sell insurance for a big insurance company. if i was trying to sell you an umbrella policy to protect everything you own with 1 million dollars of liability insurance (a personal liability policy) in case you were to be sued for any reason at all except intentional acts for about 150 a year! what would you want to hear that would make you buy this policy?

2006-12-12 06:54:16 · 5 answers · asked by Punisher 1 in Business & Finance Insurance

5 answers

Umbrella policies practically sell themselves. Any customer with any assets to protect (house, 401(k), cars, kids education funds or young drivers in the household etc,) shouldn't be allowed to walk out of his agent's office without one!

If the soft sell doesn't work, then try "if you were involved in a serious accident, how quickly could you sell your house, your assets, your cars and cash our your 401(k) to pay for the pending lawsuit? What would you do if the damages were more than your assets? ...oh, you mean you wouldn't want to do that? How about an umbrella policy? For the cost of one lunch per month, I can offer you an extra $1,000,000."

You're selling peace of mind. The majority of folks with assets will see the value of the coverage.

2006-12-13 16:15:19 · answer #1 · answered by cassee_ame 2 · 0 0

Selling the umbrella policy itself is easy if the prospect is eligible, the problem arrives if the underlying liability limits aren't acceptable and you have to talk the insured into increasing his other policies. Homeowners wouldn't be to hard a sell because the price difference between the minimum liability and the 300,000 required by the umbrella is pretty cheap, usually in the ballpark of $20 difference in premium, the hard part is if they want their automobiles listed on the umbrella and they are only carrying the minimum amount of Bodily Injury liability… say 10/20 or 25/50, most umbrella companies require they up their limits to 250/500 (a few will require only 100/300) and the difference in premium can be astronomical, especially if driving aged teenagers are on that automobile policy.

2006-12-12 18:09:47 · answer #2 · answered by sharp32548 4 · 0 0

Well, I have had one since I've owned a home, and you pretty much sold it with what you said. Unless you have nothing to lose, it's pretty foolish to NOT have an umbrella policy.

To convince the really stupid, fall down on their front porch and sue the snot out of them. Wait, no, then you'd be one of the jackasses that necessitate these policies.

2006-12-12 15:04:36 · answer #3 · answered by Boatman 3 · 0 0

The Peace Of Mind pitch is usually what sells this.

2006-12-12 20:52:59 · answer #4 · answered by Anonymous 7 · 0 0

The reputation of the insurance company. What is the co rating?

2006-12-12 14:56:46 · answer #5 · answered by hirebookkeeper 6 · 0 0

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