Auto Insurance Lead Generation Strategies You Can Implement

Are you an auto insurance agent looking for ways to generate leads without having to cold call for hours on end? The truth is, you might not need an endless supply of new leads. Your auto insurance lead generation strategy should also include combing through your backburner list or cool leads to see if you can win new business. Aged leads are a great way to convert sales. As a sales associate, it’s your job to win them over and help your clients find a better rate or better coverage. 

Let’s discuss some of the auto insurance lead generation opportunities that you might be missing out on!

Don’t Miss Out On These Auto Insurance Lead Generation Opportunities

Before spending too much time and resources on a lead generation strategy that might not work, read through some of the circumstances that could help you reach more people and build your business.

Improved Credit History

Most states check credit scores as a way to determine a customer’s premium rate. So if you have clients who have gotten their finances in order since their last insurance renewal, this might be a good time to discuss new rates. Over time, bankruptcies, foreclosures, and even late payments can age off credit reports, meaning their auto insurance premiums could decrease. 

Improved Driving Record

After about 3 to 5 years, traffic tickets and accidents fall off of a person’s driving record for insurance purposes. As time passes, rates could automatically improve for drivers with past accidents or traffic violations. 

Check on your past prospects who might have been flagged for past accidents and see if those things have fallen off their records.

They’ve Bought a Home, Graduated, or Gotten Married

Significant life changes can have a huge impact on insurance rates. Things like getting married, graduating from a higher education institution, buying a home, and more might be the thing that reduces your prospect’s auto insurance rates.

Car Value Has Depreciated

You know, as well as anyone, that care loses value almost the second you drive off the dealership lot. However, this depreciation leads to insurance prices decreasing over time, saving the owner money down the road. Most research shows that owners of 5-year-old and older cars spend 20% less on insurance than owners of a new cars. 

They Haven’t Looked At Rates In A While

Maybe a significant life change hasn’t happened for your clients. Even still, it’s a good idea to check on rates every six months. Even just the act of maintaining insurance and paying premiums on time can be enough to lower a driver’s premium. Continually insured discounts and loyalty discounts might even save them money. If you want to take full advantage of your current auto insurance lead generation strategy, make sure you have a strategy to keep checking in with your prospects.

It’s Their Birthday

When it comes to car insurance rates, aging is a good thing! The older a driver is, the better the rates that they can qualify for (until about the age of 60). Experienced drivers statistically have fewer accidents behind the wheel. So if you’re looking for new clients who might need a better rate, check in on those clients who might qualify since their last policy renewal. 

They’ve Moved

Location is another thing that matters to insurance underwriters—this includes where their vehicle spends most of its time and where your prospects park. Areas with high crime rates, high population density, and even bad weather can increase insurance rates. On the other hand, if your prospect has moved to a safer neighborhood or parked their car in a garage, they might be able to get better rates.

Auto Insurance Cost Increases Are A Prime Opportunity for Aged Lead Sales

Are auto insurance costs increasing in your area? Then, watch closely for local legislation that could affect your industry and, in turn, your current customers. Here are a few tips to help you form a strategy to help your customers and grow your business. 

Educate Leads

Remember, not all of your future leads are experts on car ownership or insurance in general. Use your position as an insurance agent to educate your leads on what they need to know and what future pricing changes they can expect. You can do this by reaching out to web leads with drip email campaigns or having them opt into a subscription if they want more information. It might be good to have a script prepared with what’s new in the industry and the essential points even when you’re cold calling.

Ask the Right Questions

When you speak to leads on the phone or even in person, a big part of your job as an insurance agent is asking the right questions so that you can help your clients the best. For example, when it comes to auto leads, your client might be currently uninsured, underinsured, paying too much, needing more coverage, and many other things. You want to know so you can help in the right way and make sure you are actually providing a solution to your problem.

Target the Right Needs

The last thing you want to think about is to make sure your approach targets the needs of your auto insurance leads. This goes hand in hand with asking the right questions. Let your clients talk so that you can listen carefully to what they need and how you can specifically help them. 

You won’t close any deals by offering them worse coverage or higher prices, so make sure you find out what they need before wasting your time. 

Final Thoughts on Auto Insurance Lead Generation

You already know that auto insurance rates change so often that it’s usually well worth the trouble for your customers to compare rates every six months. This means that you should be looking through your old leads and see if they need a new quote, especially if any of the above circumstances we listed has changed in their lives. As you work with aged auto insurance leads, a great ice breaker to get you started is letting them know they might save hundreds if they simply request a new quote from you. 

Let the experts at The Leads Warehouse supply you with the best auto insurance leads available. We’ll provide you with hundreds of sortable leads that you can use to boost your sales and grow your business. Contact us today to learn more about how our auto insurance lead generation works.