Agent Tips To Dig Up Cycle, Jet Ski, RV Business
NU Online News Service, Feb. 23, 3:14 p.m. EST?Independent agents who want to grab more insurance business with motorcycle, Jet Ski and recreational vehicle owners should pay attention to trailer hitches and retired persons, according to an insurer. [@@]
That and other tips were suggested by Progressive Corp. of Mayfield Village, Ohio. "Owners of specialty vehicles offer agents a huge growth opportunity," noted Ben Sheridan, manager for boats, motorcycles and RVs at Progressive.
The company is the largest writer of motorcycle insurance in the United States, as well as the largest writer of RV insurance through independent agents.
The following are some of Progressive's tips:
? Comb your list of homeowners for potential leads. More than 75 percent of motorcycle owners and 78 percent of RV owners are homeowners.
? Ask customers who purchase insurance for trucks or SUVs with trailer hitches what they plan to tow.
? Review retirement-age clients. Some 34 percent of RV owners are retirees. Ask retiree clients if they own or plan to own an RV.
? Ask new or existing customers what they do in their spare time.
? Make sure your Web site listing is prominent and includes the fact that you can insure these products.
? Consider sponsoring a local fishing tournament or sailing regatta, or advertise at local RV shows. These activities place agency names in front of captive audiences.
? Develop direct mail and ad campaigns that focus on the enjoyment and relaxation these vehicles offer.
? Investigate sponsorship or advertising opportunities with motorcycle, boat and RV owners clubs and associations.
? Network with boat, motorcycle and RV dealers in your area and seek ways to leverage your strengths.
Progressive cautioned that insurance for these vehicle types have been marketed as add-on sales to homeowner policies, which can sometimes lead to unhappy customers when losses are not completely covered.
As an example, Progressive said homeowner policies place strict limitations on boat sizes and horsepower, offer few add-on options, and rarely send specially trained representatives to manage claims. Progressive advised that by selling boat-specific policies, agents have new sales options while customers can be fully assured that their vehicles are protected.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.