Info changes when we take application, Procedure

What to do when the info changes when we take the application.



When we take the application and find out information that will change the price, we need to re run the quote ASAP, while the person is still on the phone. Then I need to see that new information and decide if we can live with that difference, or If there is somewhere else we should go.

The same this is true if after I sign off on the application. If after entering the application the rate changes (Most likely due to MVR) Again I need to see that new information and decide if we can live with that difference, or If there is somewhere else we should go.

It is best to catch and react to these problems ASAP.



Sincerely


Larry Lubell
Urban Insurance Agency

Taking an Application

Procedure Sheet

Taking an Application

Things to look for when obtaining an application.

When we do a quote the idea is to get the person to agree to start insurance.

We understand they are getting quotes from many places, we do not want to take up too much of their time, nor do we want to scare them off.
If we ask more information than our competitors do, than we might find out information that forces us to quote a rate higher than the rates they are receiving at other places.


We are in need of additional information in order to start insurance.
When the person says YES, we need to take an application at that time we do our best to get more info including:
A cell phone, second phone # or a fax #; also try to get an Email address.
Work info, if student, make sure they do not reside in a different city.

To avoid problems, if a person says they are a painter, or Care-giver; ask if they work for a company, and or use a company vehicle, if they do and we tell that to the company, it will save us a lot of work not having to provide a signed “Non-Business Statement.

While taking this additional information, you need to understand what will change the quote we provided to them. Below are some examples.

1. The year, Make or Model of the car, (this is especially important if Full Coverage)

2. Driver’s age ( 46 yrs old - to 45 yrs = no change 23 yrs – 22 Does make a difference)

3. You find out they have Tickets or Accidents.

4. You find out they need an SR22

5. They use their car for business, (or work at a job where the insurance Co. might assume they use their car for business).

6. We find about additional drivers

7. Change in marital status (A spouse must be listed or excluded)

8. Car more than 15 years might need mechanic statement

9. Turns out they DON’T have prior insurance, when they were quoted with previous

10. We find we have a student away form home.

11. Occupations are the list of possible problems.

12. You find out about additional drivers.


These changes might require that we get additional information, and or need to be requoted. Any question, please show it to Larry.



Notice 11/17/11

Rechecking Web Quotes

We get more than 90 web quotes per day; these cost us thousands of dollars per month. It is for this reason that we need to provide the most competitive quote possible. The information coming in on the web quotes are often incomplete or inaccurate; so we are going to work out a present quotes based on providing the lowest possible price.

Only a small percentage of the people will actually start the insurance, at the time the customer states that they want to buy the policy we need to take the complete application. This will involve checking back to confirm that the info used and assumptions made, were in fact correct.

If at the time you take the application you find the rate is going to be more than $25 higher than what we quoted, you need to show that order to Larry before you order the coverage. If I am not here, show it to Jerry or Sharon.
It might be necessary to switch the carrier and or to “Resell” the policy to reflect the actual cost of the policy.

Application for Insurance Quote

We need to get a complete application each time we start insurance. This will save us money and help avoid many of the problems we have here at Urban.

This application should be on each order. We must ask the questions, and we must communicate what we know with the insurance company.

Owner (Name of title) _________________________________________________________________________________

Address______________________ Apt #____ City___________________ Zip_________

Home Phone_____________________________ Cell Phone_________________________________

List of Drivers (Must include everyone in the home over 15 years old)

Name M or S DOB Drivers License #

1._______________________________________________________________
Occupation _____________________ Company________________________________.
Company Address______________________ SR-22 Yes o No o
Tickets / Accidents (reason SR22)_____________________ State Licensed __________

Name M or S DOB Drivers License #

2._______________________________________________________________
Occupation _____________________ Company________________________________.
Company Address______________________ SR-22 Yes o No o
Tickets / Accidents (Reason SR22)_____________________ State Licensed __________

List of Vehicles
Year Make Model Vin # $ Value if New

__________________________________________________________________
Loss Payee ___________________Address _________________________________
Coverage’s $20/40/15 $25/50/10 $25/50/25 Other Limits_________ Full __________

Year Make Model Vin # $ Value if New

__________________________________________________________________
Loss Payee ___________________Address _________________________________
Coverage’s $20/40/15 $25/50/10 $25/50/25 Other Limits_________ Full __________

Year or 6 Months Is any driver a student “Out of State?”_______________
Are all cars “Garaged” at the above Address? ___________ Any Business Use________

If Limits are other than Minimum,
Do you have Underinsured Motorist Rejection signed? _______________________________

Notes ______________________________________________________________________________

If more than two drivers or more than two cars….. Please attach a second application