PROFESSIONAL DEVELOPMENT
By Ethel Rio Cohen
“I need something cheaper” is one of the most familiar openings in insurance, but price is not always the whole problem.
Sometimes the client truly needs a lower premium. Other times, price is simply the easiest way to describe a different concern. They may be frustrated by an increase, unsure whether the coverage still makes sense, nervous about what they would have to pay after a claim, or wondering whether they are being treated fairly.
The words sound simple, but the decision behind them usually is not.
That distinction matters because the fastest way to turn insurance into a commodity is to respond to every price concern with another price. If every conversation becomes a search for the lowest number, much of the value of the agent disappears before the real discussion even begins.
A client may say the premium is too high, but after a few minutes it becomes clear that the increase itself is what upset them. Another may ask for a cheaper option and then reject it as soon as they see the higher deductible. Someone else may want to shop only because they have no idea whether their current price is still competitive.
In each case, the client begins with price, but they are not necessarily asking for the same thing.
The more useful question is not simply, “How low do you need the premium to be?” It is understanding what decision the client is actually trying to make.
A client dealing with a true budget problem needs help finding a payment they can live with. That may mean changing deductibles, limits, benefits, carriers or plan structure. The important part is making those tradeoffs clear enough that the client understands what they are gaining and what they are giving up.
A client reacting to a large renewal increase needs something different. They may not need a dramatically cheaper policy at all.
They may need to understand what changed, whether the increase is happening across the market, and whether moving to another option would actually improve the situation.
That can prevent a policy from being replaced simply because the renewal created an emotional reaction.
Then there are clients who are really questioning value. They are paying more and no longer understand what they are paying for. In that situation, comparing coverage may matter more than comparing premiums.
A lower number means very little if the deductible doubled, the limits changed, or something the client thought they had is no longer there.
Cost still matters. The point is not to talk the client out of caring about price. It is to make sure they understand what changed around the price before making a decision.
That becomes even more important when the real concern is risk rather than the monthly bill. Some clients can afford the premium but would struggle badly with the deductible or other out-of-pocket costs if something happened. Moving them into a lower-premium option with more financial exposure may solve the immediate price complaint while creating a larger problem later.
At that point, the conversation is no longer just about comparing policies. It is about deciding how much risk the client can realistically carry.
There is also another type of conversation that comes up often: the client who wants confirmation more than change.
They may say, “I just want to make sure I’m not paying too much.”
That client may be testing the market, but they may also be testing whether their current coverage still makes sense.
If the existing policy and pricing are still reasonable, saying so can be more valuable than finding a reason to move them. If another option truly improves the situation, the recommendation becomes easier to trust because the client knows the goal was not simply to create a transaction.
Sometimes the best answer is, “I looked at it. What you have still makes sense.”
That answer can strengthen the relationship more than a small premium reduction ever could.
The broader point is that price language is useful information, but it should not automatically decide the direction of the conversation. It tells you where the client is feeling pressure. The next step is figuring out whether that pressure comes from affordability, surprise, uncertainty, risk or lack of trust.
Once that is clear, the right response usually becomes easier to see.
Sometimes the answer is to shop aggressively. Sometimes it is to restructure the coverage. Sometimes it is to explain the renewal. Sometimes it is to show the client that the current policy is still competitive. And sometimes the best thing to do is leave a good policy alone.
That judgment is difficult to replace because it depends on understanding both the market and the person making the decision.
Insurance shopping will always involve price, and for many households and businesses even a small change matters. But a client asking for something cheaper is not always asking for a cheaper policy.
Sometimes they are asking whether what they have still makes sense.
Understanding that difference is where the real conversation begins.
“Insurance shopping will always involve price, and for many households and businesses even a small change matters.”
Ethel Rio Cohen
Ethel Rio Cohen is the founder and CEO of Ensurance Incorporated, a U.S. insurance-shopping company that helps people shop for better insurance prices and coverage options through one protected request.
She previously helped build an insurance agency, which she later sold.
She is also the author of The Room I Built, a book about ambition, leadership, identity, and the choices that shape what we build.