Rollover project:
Foremost offers coverage to Farmers mobile home customers
As of June 2000, Farmers stopped writing mobile
home insurance and turned to Foremost to provide coverage for
its mobile home customers. At that time Farmers mobile home customers
began receiving non-renewal notices from Farmers, along with an
offer of insurance from Foremost. This activity is part of the
plan that will make Foremost the home for specialty personal lines
products in the Farmers Group of Companies.
What you'll get when
your customers accept the Foremost offer
- Foremost mobile home policies qualify for contract
value.
- You earn Farmers New Business Production Count
(5 units) for every Foremost Mobile Home policy you book.
- Foremost policies are paid through folio.
- Foremost policies qualify within profit programs.
- Foremost mobile home policies qualify for errors
and omissions — just like Farmers business.
Ideas to help you retain
your customer's business
- Regular contact
- Selling the value of the
policy and the value of the service you provide as your customer's
agent
- Contact your customer
so they learn about the Foremost offer of coverage from you
-- not from an agent trying to sell a competitor policy.
- Focus your customer on
the benefits of a Foremost policy and convince them that those
benefits offer value that offsets the price difference that
will likely result between the Farmers and Foremost policies.
- Though the policy will likely cost more, it
includes important additional benefits like our agreed loss
provision, comprehensive coverage on personal belongings, and
food spoilage coverage. More highlights of Foremost mobile home
policies.
- Since many customers buy based on price, you
may find that regular customer contact, together with features
and benefits selling, will help retain your customer.
Timeline: What happens
when
75 days before renewal
- Farmers sends a letter to each customer
explaining the change, alerting the customer that Foremost policies
are more expensive in most cases and briefly describing several
key coverage benefits the Foremost policy offers. This letter
will be sent to them from you as their agent.
60 -70 days before renewal
- Foremost mails your customers a new policy
package which includes both a non-renewal notice from Farmers
and a new Foremost policy packet.
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