Stop Offering 'Apples to Apples' Quotes and Start Delivering Real Value

When it comes to quoting insurance policies, many agents have been taught to follow the "good, better, best" approach—starting with an "apples to apples" quote of what the client currently has, then offering a slightly better option by tweaking the deductible or coverage, and finally presenting the best policy that you would fully recommend. I, too, was trained in this method as an agent, but I quickly realized that it is a flawed system.

The Problem with "Apples to Apples" Quotes

First and foremost, it's impossible to provide a true "apples to apples" comparison because no two insurance companies are the same. It's like comparing a BlackBerry to a Samsung or an iPhone—they all have their own unique features, benefits, and drawbacks. The same goes for insurance policies: they differ in contract language, built-in coverages, and claims departments. But here's what really sets each policy apart: you, the agent. Not every company has you, so why degrade your agency by comparing it to the one down the street?

When you provide an "apples to apples" quote, you're devaluing your service and focusing solely on price. By doing so, you're essentially saying, "Here's the coverage, here's the price—do you want it?" This approach is flawed because it reduces your offering to a mere price tag, and clients are less likely to appreciate the value you're providing.

Clients Want Value, Not Just Low Prices

Clients want to perceive value, and they are willing to pay for it. People enjoy spending money on quality products that protect their future. So, why would you offer them an inadequate policy just to focus on price? Instead, show them a quality product and clearly articulate how it will protect their future. When clients feel they are getting value, they are more willing to exchange money for that peace of mind.

When someone says, "That's too much money," what they’re really telling you is, "That's too much for the value I perceive." So, it's your job to increase the perceived value.

How to Respond When Clients Say the Price Is Too High

Here’s a tip for the next time a client says the price is too high: Go up in price. Yes, you heard that right—go up in price, not down. When you recommend coverage to a client based on their needs and what they need to protect, as a financial professional, your duty is to offer the best policy that truly protects them.

Start with the best policy, not with the "good" or "better" options. This is your baseline recommendation because it’s what the client needs. And when the client balks at the price, don’t back down. Instead, say:

"I understand where you’re coming from. Right now, I agree—the price doesn’t seem to match the value of the coverage. So let me show you something different. This policy has more coverage, including a $2,000,000 umbrella instead of a $1,000,000 umbrella, which will protect X, Y, and Z. And it’s only a few dollars more each month."

By offering a more expensive product and tying it back to the coverage it provides and what it protects—whether it’s their income, home, or assets—you’re demonstrating greater value. This approach actually makes the original recommendation more attractive.

The Power of Offering the Best

Studies show that when you present a "good, better, best" option, the lowest-tier policy often decreases the client’s motivation to buy. By going down in price, you’re not just lowering the cost—you’re also decreasing the perceived value and trust in your recommendation. The client may begin to wonder why you didn’t start with the cheaper option, causing them to question the integrity of your advice.

Instead, quote the best policy and even better-than-best options. When you insure your clients with optimism, you insure them with the best coverage available. So, stop offering "apples to apples" quotes, stop going down in price, and start going up in price. You’ll find that this strategy actually motivates clients to close the deal because they can perceive the value they’re getting.

Try this approach and let me know how it goes in the comments!