Cross-selling is an effective strategy for increasing your average order value (AOV). Let these insurance cross-selling examples pave the way toward your sales growth journey.

You can develop various techniques to boost your revenues, from prospecting to networking to marketing. However, don’t forget to include cross-selling tactics in your game plan. It’s an effective way to improve your earnings as an agent. 

After all, you’re more likely to close a deal with an existing client than a new prospect. Read on to learn about insurance cross-selling examples that can take your career to new heights. 

insurance cross selling examples

3 Insurance cross-selling examples you can take advantage of right now

Cross-selling is the process of offering related or complementary products to a client. You need this critical skill to become a successful insurance agent

For instance, if you sell home, auto, and life insurance policies, you don’t have to make every meeting exclusive to a particular protection type. You can offer a second product to an existing customer when opportunities arise. 

If you play your cards right, you can use this skill to generate significant profits for your agency. However, if you push too hard, you might damage your relationship with your clients. 

The secret to effective cross-selling is to know what to sell and when. The following insurance cross-selling examples should help you identify ideal moments to offer additional products. 

1. Home + mortgage life insurance policies

The first thing to remember when cross-selling is that it usually occurs when you’re dealing with an existing customer or a prospect who has already committed to completing a purchase. Selling right away is one of the most common insurance sales mistakes agents make.

Once you’ve sold a home insurance policy to a client with dwelling, structure, personal property, and liability protection, you can discuss add-ons later. As you discuss components like earthquake coverage, sewer backup rider, and watercraft endorsement, find out if your client has ample mortgage life insurance or any at all.

Explain to your client that home and mortgage life insurance policies work well together — especially for married individuals with dependents. For example, when an insured individual dies, the mortgage life insurance policy will cover the remaining mortgage of a property. 

However, what happens after it pays for the mortgage? The family of the insured will still have to pay for property taxes, utilities, and maintenance costs. In this scenario, having a life insurance policy will cover such expenses for the spouse and dependents.

Let your client imagine the beauty of having insurance that will take care of their loved ones, ensuring they’re secure in their home. These policies will lift a massive burden off any grieving family. 

2. Home + auto insurance policies

Next, with enough insurance product training, you can learn about bundles providers offer. Most major insurance companies provide agents with home and auto insurance bundles that go as high as 25% off premiums. Offer such clients these options to lower their insurance costs. 

Additionally, inform your clients about the benefits of having one point person for various insurance needs. Let them know that you will always be there for them for whatever process they need help with in the future. 

3. Auto + life insurance policies

One of the most common types of auto insurance is liability insurance. These policies only cover claims against a third party, like when you hit a person, property, or another car with your vehicle. 

These policies won’t protect you from injuries you get from an accident. Also, with just a liability auto policy, you won’t receive compensation if your car gets stolen or damaged. 

Comprehensive insurance can help protect your car better but may not offer enough compensation for an insured person’s income loss. If you have clients who have auto insurance but no life insurance, educate them about the importance of protecting themselves and their loved ones and not just their vehicles. 

Ready to make the most out of every client interaction?

These insurance cross-selling examples should help you boost your sales from existing clients. But how do you grow your existing pool of policyholders?

You can use various techniques, from sending emails to writing blogs to running Google Ads. Or you can request verified leads from HBW Leads. HBW Leads provides agents with high-quality double-verified leads. 

Imagine the cross-selling possibilities when working with warm prospects! Finally, you can spend less time looking for clients and more time hitting your targets. Request a personalized lead package today!