4 Sales Objections and How to Overcome Them

Sales objections are often (mistakenly) seen as the bane of an insurance agent’s existence. It would be far better if the prospect would just get on board with what you are doing and sign up, right? Well, maybe. But that’s not the way the real world works, nor has it ever been. You get a lot more value as an agent out of practicing with and working through these situations than avoiding them altogether. So learn to love sales objections because they give you a real opportunity to think on your feet and become a stronger salesperson. That said, here are the four biggest objections you may hear with a little advice on how to overcome them.


1. Price

You’ll often get price thrown in your face this day and age because virtually everyone uses the Internet for research. What they don’t realize is that price, at this point, is just a number and not a real value proposition. They may be able to find the policy cheaper elsewhere, in other words, but it won’t include a lot of the value that you can bring to the table, thus saving them money in the long term. The best way to overcome this objection is to confront it head on. “Yes, that price may be cheaper, but let’s look at the actual coverage it provides compared to what I can do for you.”


2. Complacency

In insurance especially, many customers don’t want to rock the boat. They’ve been with their company for over a decade, and they just don’t want to go to the trouble of changing over everything. The first thing that you need to point out in such a case is that changing over isn’t as difficult as they believe it to be. Secondly, it can save them a lot of money. See if the customer won’t sit down with you and go over their coverages. Then, show them what they could be getting if they use your company. Attach some kind of incentive for their time. Consider taking them out for lunch or a cup of coffee if you feel the client may be worth the time and energy. Show them you want their business. Your attentiveness and enthusiasm can help overcome any fear of change they may have.


3. Knowledge

Many prospects would like to know more about their coverages, but they don’t know where to begin when it comes to asking the right questions and understanding the intricacies of every situation. The first thing that you should do if you have a prospect too impaired by their own lack of knowledge, is see if you can help them understand more about their policies. You may be able to use your expertise to spot gaps in coverage. These gaps, when noticed, will be appreciated, and they’ll definitely be more likely to remember you if they do decide to make a change. Before you leave it with them, ask if there are any questions THEY might have that you can help get answers to. Remember: it’s okay to say the words, “I don’t know,” if you really don’t know. Just make sure to ask if you can follow up on that and get them the answers they’re looking for ASAP.


4. Dismissal

Sometimes insurance leads just don’t want to deal with you right now. They’ve already gotten calls from other agents, and they’ve either halfway made up their mind or they’re at their wits’ end. Don’t worry. You can work with this. Just make sure that you don’t press too firmly in the moment. “I know you may have other things on your plate right now,” you might say if you’re getting “the vibe.” “Could I follow up with you tomorrow morning perhaps?” The prospect will appreciate that you respect their time, and they’re more likely to reschedule AND have more interest in what you have to say.


In Summary

It isn’t easy overcoming sales objections, and truth be told, you won’t always succeed. But it’s certainly helpful to your career as an insurance agent to have knowledge of what the common sales objections are as well as a plan for overcoming them. Keep these in mind as you go about your week, and best of luck!

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