Homeowners insurance agents could do more for homeowners

Considering a home is the most valuable asset in most American households, it’s logical to assume homeowners have strong affinity and appreciation for those who help safeguard this asset. However, a latest study shows homeowners have lukewarm opinions of their agent, with over 4 in 10 expressing unflattering or indifferent attitudes toward those who advise them on how to protect their home.

In the Q3 2018 ValueInsured Modern Homebuyer Survey, homeowners were asked to share their opinion of their homeowners insurance agent. Over half spoke positively of their agent, however, the accolades were not overwhelming:

  • About 1 in 4 (27%) spoke glowingly of their agents, who were said to have homeowners’ best interest in mind

  • Another 1 in 4 (25%) consider their homeowners insurance agent a “trusted adviser”

  • 22% described their homeowners insurance agent as a one-time, transactional “middleman”

  • 20% were less polite, and described their agent as a “paper pusher,” someone homeowners said they never hear from except during policy renewal time

  • 5% said they have no opinion or familiarity with their homeowners insurance agent

Furthermore, when asked if their homeowners insurance agent demonstrated other positive traits:

  • Only 21% of all homeowners reported their agent to be “innovative”, and

  • 14% agreed their agent was “resourceful” 

The findings highlight the perception of passiveness of some agents, which may have contributed to the image of paper pushers and transactional middlemen associated with some agents.  

The good news is homeowners do not tend to view their agents negatively as someone who would give damaging advice or hurt their home investment; rather homeowners wish their agent could be more proactive, more consultative, and could do more to protect them. Currently, the relationship is not an engaging or high-touch one, which could lead to high turnover rate.

Looking at the glass half full, the latest results show there are tremendous opportunity for savvy and entrepreneurial agents to stand out, earn more referrals, and retain more clients by taking a more proactive stand. So if you are an agent and wondering if your clients want to hear from you between policy renewals? Yes they most certainly do – tell them about the latest innovation in home protection, be more resourceful, offer sound advice on more ways to help secure homeowners’ most valuable asset, and you will be more likely to have them as clients for life.