Are you looking for ways to take your share of the agricultural insurance market? Here are four ways you can make that happen.
Find your niche.
You need to understand what opportunities are available in your market. You might be in an area where cattle and chickens are the main focus, or you might be stuck right in the middle of the grain belt, dealing with crops instead of livestock. Those opportunities will help you find the niches available in your area.
Talk with the farmers and ranchers in your community. They can tell you where a need is. They may not be able to get affordable coverage on all or part a particular operation. This may be the right place for you to stake your niche.
Build on your existing book.
You already have clients. Can you help them round out their insurance coverage?
For example, a farmer may have his workers’ compensation with one agency and his liability with another. If you can offer him discounts or incentives to bring all his business into your agency, you will have a very happy customer. Not only will you gain his additional business, you also have a customer willing to tell others about your agency.
Don’t be afraid to push for additional coverage where it makes sense. They may not have increased their liability coverage for years, yet risks continue to rise. Presenting them with the option to upgrade their coverage based on those risks is doing a service to your client.
Know the policy language and coverage.
Your clients depend on you to provide them with insurance protection. You are their expert. Prove that you are that expert by knowing the policy language thoroughly. Be ready to point out any specific clauses that might prove problematic for them.
Always be aware of changes before a policy renews. If the carrier is adding or changing language, get familiar with it and assess its potential damage to your current clients. Educate all of your clients about the changes and how they will impact claims and coverage. Be prepared to offer alternatives if necessary.
Keep an eye out for future coverage needs.
This is where knowledge of farming and ranching is so important for agents covering the agricultural book of business. Changes are always happening in the agricultural field, from government regulation to local economic shifts. Knowing how these changes can impact your clients will give you the chance to help them make policy changes when the time comes.
These are four ways you can grow your agriculture book of business. Another way is to be sure that you offer the most comprehensive policies available to your clients. James Allen Insurance is here to help with that part.