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Everything you need to know about insurance quotes

Did you know that as a insurance agent, you are responsible for writing proposals? Most people don’t realize this, but it’s a very important part of the job.

In fact, a well-written proposal can mean the difference between winning and losing a sale. It shows your understanding of the customer’s needs and helps you explain why your product is a perfect fit. After reading your insurance proposal, your client should feel confident that they have made the right decision.

To help you succeed, let̵

7;s take a closer look at what insurance proposals are, their importance, and how to write them.

What are insurance proposals?

A proposal is a document, usually in the form of a letter or memorandum, that details the terms of a proposed policy. It is presented to potential customers so that they can make an informed decision before purchasing a policy.

It contains specific information such as:

  • The type of insurance offered
  • Insurance premiums and conditions
  • Any exclusions or limitations that apply
  • The the company’s risk management goal
  • Any additional information the customer may need

Insurance proposal versus insurance

While “proposal” and “policy” are often used interchangeably, there is an important difference between the two. A proposal is just that – a written offer to provide insurance coverage. It does not become an official policy until the customer accepts it and pays the premium.

You can see a proposal as simply the first step in the policy process. Once approved, it acts as a contract between the insurer and the insured that governs how the policy works.

The importance of insurance proposals

Insurance proposals are incredibly important for both agents and customers. For agents, a well-written proposal not only closes the sale but also builds trust between the agent and the client. It shows the agent’s knowledge of their product and commitment to providing the best coverage.

For customers, a proposal is important to understand exactly what type of coverage they are getting, as well as the cost associated with it. It also ensures that customers know what is and isn’t covered by their policy, so they aren’t surprised when a claim arises. Once you and your prospect have discussed the policy, a proposal is what seals the deal the customer onboarding process is much easier.

What effect can adopting an insurance proposal have in the sales process?

The result of correctly adopting an insurance proposal in the sales process is undeniable. Having a well-written proposal that clearly outlines the terms of coverage and the associated cost can make or break a sale.

Not only will customers be more likely to purchase the policy if they understand exactly what they are getting, but the agent is more likely to close more sales because they have done their due diligence to inform the customer.

How to write an insurance proposal

Writing a proposal is not as daunting as it may seem. There are some important steps agents can take to ensure that their proposals are effective.

First, agents should research the customer’s needs and tailor their proposal accordingly. They should also be clear about the types of coverage offered and any exclusions or limitations that apply.

Next, agents should include an estimated value analysis to show the customer how their policy stacks up against the competition. This shows the customer that they are getting great value for their money and can help close the sale.

Finally, agents should use a professional format and proofread the proposal for any errors. This will give customers confidence in the agent’s professionalism and help close the sale further.

Insurance proposal template

Creating an effective insurance proposal is made easier with a template. A template describes the various components to be included in the proposal and facilitates especially for independent insurance agents to organize their thoughts.

The best insurance proposal templates will include sections for:


The executive summary allows you to start the proposal strong by showcasing your expertise by offering solutions for meeting and manage your client’s goals or wishes. Here you can also offer information about your insurance company and its credentials to give your customer the peace of mind they need.

(Customer) requires qualified insurance including:

  • Car insurance
  • Home insurance
  • Workers compensation

Our mission is to provide the best possible insurance solutions so that (Customer) can achieve the following goals:

  • Full coverage
  • Lower annual premium premium
  • High customer satisfaction

Supplier’s background

This section should provide the customer with information about your company, its history, its staff and past success stories. This is important to give customers an understanding of who they are dealing with and can help build trust.

The schedule

Here you enter the location and vehicle schedules for the insured. It provides information about the exact types and amounts of coverage provided by the policy.

Excesses & surcharges

This section will detail any excesses or surcharges that may apply to the customer’s policy. This helps customers understand exactly what they are paying for and gives them an idea of ​​how much money is at stake in the event of a claim.

{Insurance Policy} Coverage

The property coverage section will expand the coverage available to the insured. It contains basic information such as the proposed policy period while explaining the limits, excesses, highlights, subjectivities and limitations of the coverage.

You can change this section to include different auto insurance policies, workers compensation and so on.

Premium Summary

This section details the cost of the policy and any discounts or special rates offered. This part should also contain information about payment options and the renewal rate.

All sales, marketing and analysis for insurance

Insurance proposals can be a powerful tool in the sales process. They offer customers a clear understanding of their policy coverage and costs while giving agents an opportunity to demonstrate their expertise in the field.

Having the right information and tools are key components to creating a successful insurance proposal. By understanding the importance of insurance proposals, knowing what to include in them, and having a template to use as a guide, agents can improve their sales process and close more deals with clients.

However, using the right insurance proposal is only the beginning. Once you’ve successfully managed your leads from start to finish, automation is essential. Insurance CRMs like InsuredMine offer specialized solutions for insurance agencies to effectively manage customers and close more business. From marketing to sales and analytics, InsuredMine is an all-in-one solution to help agents maximize their sales and grow their insurance business.

Are you ready to set your agency up for success?

Try InsuredMine for free today!

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