Sell on VALUE, NOT on PRICE - Why Split Limits?

Hi Everybody – Chris here with Referral Kings – I want to take just a minute or two to talk about a subject that will INSTANTLY set you apart from every other insurance agent and will help you To INSTANTLY Sell On VALUE, NOT on PRICE – And that is the subject of Split Limits.

My whole time as an agent, I may have seen two or three DEC pages TOTAL that did NOT have split limits – EVERYONE has split limits on their LIABILITY coverage – whether it’s 100/300, or 50/100, etc.

Let’s talk about that for just a moment – You gotta have the heart of a TEACHER, NOT a SALESMAN!

If someone has split limits, what is that coverage doing for our insured?

If they get into an accident, and it’s their fault, and the SINGLE driver in the other vehicle is severely injured, you realize the policy is NOT going to pay out $300k, it’s ONLY going to pay out $100k, and EVERY agent out there sells them this. Why? Because for some reason we feel like THAT is the only way to cover someone, and that we have to be like EVERYONE else!

DO NOT sell split limits. Stand out as different from everyone else out there, and help your client to see that you are going to be giving them literally three times more coverage than what they have now… you’re going to give them $300/$300 instead! 

Do you realize it’s probably only about $3 or 4/month difference in price to do that? Maybe less?

DO NOT tell them how LITTLE of an increase this is… Remember…we don’t care about price… The perceived value is HUGE…you just tripled their most IMPORTANT coverage, THAT is going to help you stand out as different and YOU know that it’s not going to cost them anything more to do it.