Insurance agents If your customers drive their cars to Mexico, do not tell them to buy their Mexican car insurance at the border!
Mexican car insurance, sometimes called Mexico tourist car insurance, is not only a good product to earn any additional commissions. Mexican car insurance can also be a wonderful tool for attracting new customers and for creating customer loyalty with your existing customer base. Using the internet has never been easier to write Mexican car insurance. So if you have customers driving to Mexico, your agency must be appointed to offer Mexican car insurance.
How to be appointed to sell Mexican car insurance
There are a number of US based MGAs General Managers who appoint independent insurance agents to sell Mexican insurance. If you have a valid liability insurance license and a current insurance policy for error and negligence, most MGAs will be looking forward to selling their insurance products from Mexico. Appointment work is usually very easy, and the agreement can usually be completed in less than 24 hours. Some of the better MGAs that have their offices streamlined can get you registered and ready to sell in less than an hour. Many MGAs have no production requirements, so agents should not feel any pressure to meet sales volumes.
How to Write a Mexican Insurance Policy
Mexican car insurance is one of the easiest products for insurance agents to write. Now that most of the decent MGAs have internet based web sites, agents can issue Mexico insurance policies in less than 5 minutes. Most Mexican insurance agencies websites allow you to log in to your online account using the agent and password. When logged in, agents can generate quote or issue real time guidelines. Most agents find that writing Mexican insurance over the internet is as easy as buying an airline ticket online.
Agents who can benefit from selling Mexican insurance
Many agents mistakenly claim that only agents close to the Mexico border will benefit from selling Mexican insurance. Although many Mexican insurance policies are still sold at the border, most of the policies are now purchased by customers in good time before their Mexicos road trip. In fact, many of the most successful agents selling Mexican insurance are in states that do not even share the borders with Mexico. Agents in states like Oregon, Washington, Colorado and Illinois are responsible for producing a large proportion of sales for the car insurance industry in Mexico tourist. If you have any customers or potential customers driving their cars to Mexico, do yourself a beaten by not being able to offer this product.
Many of Mexico Insurance MGAs offer between 20 percent 30 percent commissions to agents for written policies. For many agents who are not close to the Mexican border, their customers tend to take longer trips to Mexico, ranging from a few weeks to a few months. A three week Mexico insurance policy can easily generate a 200 USD 400 USD prize which would lead to an agency commission of 60 to 120 dollars. Even though you may not be able to retire on this revenue, 5 to 10 policies per month would surely pay more than the electricity bill for your office. Some agents may also choose to improve their commissions with a brokerage fee. And keep in mind that each policy usually takes less than 10 minutes to issue and requires almost no service when the policy is issued.
Advantages of offering Mexican car insurance
Mexican car insurance can also serve as a good marketing tool for your agency. Many agents find Mexican car insurance as a good product to attract new customers. When the word turns out that your agency can offer Mexican car insurance, you can find new customers who stay at your office before traveling to Mexico. Once you solve your Mexico insurance needs, most customers are happy to discuss the opportunities to work with you for their domestic insurance needs as well. Mexican car insurance is also a good tool for building customer loyalty and retaining your customers. If you offer Mexican insurance, your customers are less likely to visit your competitor who offers Mexico insurance.
In summary, if you are looking to grow your insurance agency or just keep your existing customers, you should seriously consider being designated to sell Mexican tourist insurance. You are likely to find it as one of the simplest and most beneficial products you have ever sold.