How To Overcome Top Objections In Insurance Sales

Published on June 21, 2021

Selling insurance certainly comes with many challenges and learning opportunities. Both seasoned and new agents alike are always refining and improving their sales processes in order to maximize closing rates. 

When is the last time you evaluated your sales process from the first contact to close? Without preparing for common objections, you’ll get shut down pretty fast. By reviewing some top objections in insurance sales, you’ll be more equipped to quickly overcome the challenge from your prospect. 

Top Objections In Selling Insurance

If you ask any experienced agent, these are some of the most common objections heard from prospects during a sales call or appointment. We’ve listed some ways you can handle them and move closer to writing a policy.

The Busy Objection: “I don’t have time to talk right now.” 

This is definitely a fairly common response. After all, people are busy and have lives! What is the best way to handle this objection? First of all, set the expectation for yourself that the prospect probably isn’t ready to close a sale over the phone at this moment. Your goal should be to find a time when the person isn’t too busy to schedule another call. Make sure they feel you respect their time and have their best interest at heart. 

The Forgetful Objection: “I didn’t ask for a quote.” 

You probably hear this one all the time. It is essential that you don’t accuse the prospect of being untruthful, or the conversation will be over before it starts. See if refreshing their memory works first. If it doesn’t, politely inform them you may be able to save them money and try to approach the objection that way. 

The Delay Objection: “I need to think about it.” 

In any type of sale, this is a very frequently heard response. Why would someone say that? There is obviously some type of hurdle keeping them from being completely confident in making a final decision. Have you established authority in the insurance business? Have you earned your prospect’s trust? Be frank about the benefits of making a decision to buy a policy sooner rather than later. If you absolutely can’t close the sale, schedule a time in the next day to speak again. Attempt to meet in person if possible. 

The Price Objection: “You’re too expensive.” 

Every insurance agent has heard this one a few times. Consumers are smart and price shop online when searching for a quote. What’s the best way to overcome this objection? Educate the prospect that price is just one piece of the puzzle. What other benefits does your carrier bring to the table that a competitor might lack? Describe an honest scenario in which using a cheaper carrier could have poor consequences. What do they have to gain by choosing you? Your goal is to build value for the prospect and allow them to see past prices alone. No two policies are alike. 

The Reputation Objection: “I’ve heard bad things about your company.”  

Either the prospect hasn’t heard of you, or he/she has heard negative things about you. The challenge here is to establish trust when the prospect has no reason to trust you based on potentially untrue claims. Get to the root of your potential customer’s hangups and try to resolve the preconceived notion that your carrier is a bad choice. Assure them of the excellent care they will receive as your client. 

Key Takeaway 

If there’s anything to take away from these solutions to common insurance sales objections, it’s this: build value! Your prospects need to feel that choosing you is a no-brainer. 

Have you experienced these objections during your sales calls? Do you find a certain response works best? We would love to know your approach! 

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