4 Reasons Why Homeowners Make Great Insurance Prospects

4 Reasons Why Homeowners Make Great Insurance Prospects

Lead management is one of the most time-consuming and essential activities for business. Despite the problems lots of firms have in its implementation, excellent lead management can act as a significant competitive benefit. But where are the best leads found?

Here are the top 4 reasons why homeowners make amazing insurance customers:

1. Homeowners are strategic: Ok, anyone can be strategic, etc. but homeowners opted to take on more responsibility in order to build equity in their homes instead of renting. So, yes, homeowners generally made a smarter choice and generally make more strategic decisions, that take into consideration long-term consequences. So, what does this mean to an insurance agent? It means that, if you lay out a thoughtfully crafted plan to help homeowners mitigate risk and save money, they will likely become your customer. They want to reduce risk to their family (life insurance), and their wallet (health, hospital indemnity, dental, Medicare Supplements, Medicare Advantage. 
2. Homeowners know other homeowners: Referrals, referrals, referrals! If you impress a homeowner there’s a great chance they will tell their neighbors. Not only that, but there’s a thing now called NextDoor. Nextdoor.com helps neighbors communicate with each other and one of the biggest things on there, besides griping about barking dogs, is the sharing of service people who did a great job. If you want advice on something, chances are one of your neighbors already went through it. So get involved with Nextdoor in your local area and get involved in the community. Ask your homeowner customers to do a shout out for you on Nextdoor.com
3. Homeowners are accustomed to spending money: One tradeoff to being a homeowner is that you can’t rely on the landlord to do all of your repairs. You’re stuck with them. And over time homeowners just know things are going to break, need fixing, painting, etc. So, if there’s a need, homeowners won’t hesitate to go ahead and spend the money as long as they have it to spend. That’s where demographic targeting comes in. If you focus on prospects with incomes over $75k, you’ll be able to help them with things that cost some money. If you focus on people with incomes below $50k you will focus more on Medicare Advantage, Term Life, Final Expense, Dental, etc. and focus on saving them money.
4. Homeowners are savers: One big thing about homeowners is that they are always having to fix something. So, with that in mind, what do you think they are always trying to do? Save money. And that includes saving their money for retirement. They know the time is coming and want to have a nestegg. So IULs and Whole Life plans with a good cash accumulation feature are great fits for homeowners. Plus, you can sell a term plan like a mortgage life policy, but much cheaper for them.

So, as you can see, homeowners make great prospects depending on your focus. If you are focused on Dual Eligible MAPD prospects, then perhaps not. But for everyone else, they’re great.

Let us know your experience on this subject. We’d love to hear.

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