Insurance agents: Don’t tell your customers to buy Mexican auto insurance if they drive to Mexico.
Mexican auto insurance is sometimes called Mexico tourist auto insurance. It’s a great product to earn extra commissions. Mexican auto insurance is a great tool to attract new customers or build customer loyalty. It’s never been easier to write Mexican auto insurance. If you have Mexican customers, your agency must be authorized to provide Mexican auto insurance.
How do I get Mexican auto insurance
A number of US-based MGAs (managing general agencies) will appoint independent agents to sell Mexican insurance. Most MGAs will allow you to sell Mexico insurance products if you have a valid property insurance license. Most appointments are quick and easy. The process can be completed in 24 hours. Many of the best MGAs can get you signed up and ready for sale in under an hour. Agents shouldn’t feel pressured to sell volume. Many MGAs don’t have production requirements.
How do you write a Mexican insurance plan
Mexican auto insurance is one the most straightforward products that insurance agents can write. Agents can now issue Mexico insurance policies within 5 minutes, as most MGAs are internet-based. You can log in to most Mexican insurance agency websites using your agent code and password. Agents can issue policies or generate quotes in real-time once they are logged in. Writing Mexican insurance online is easy for most agents.
Agents that can profit from selling Mexican insurance
Agents mistakenly believe that Mexican agents are only those who live near the border to be able to sell Mexican insurance. While many Mexican insurance policies can still be purchased at the border, most policies are being bought by customers long before they travel to Mexico. Many of the best agents selling Mexican insurance are found in states that don’t even have a border with Mexico. Agents from states like Oregon, Washington and Colorado are responsible for a large portion of the Mexican ‘tourist auto insurance industry’ sales. You are disserviced if you cannot offer this product to potential clients or customers who travel to Mexico by being unable to sell it to them.
Agents who write policies are often offered commissions of between 20% and 30% by Mexico’s insurance MGAs. Agents who are not located near Mexico’s border tend to travel to Mexico more frequently than their clients, which can mean that they may have to travel for a longer time. This could be from several weeks or even months. A three-week Mexico insurance policy could easily generate a $200-$400 Premium, which would translate into a $60 to $120 Agency Commission. Even though you might not be able retire on this income, it would pay your office more than the electricity bill. Agents may choose to increase their commission by charging a broker fee. Remember that each policy takes approximately 10 minutes to issue, and almost no servicing is required once it has been issued.
Benefits of Mexican Auto Insurance
Your agency can also use Mexican auto insurance as a marketing tool. Agents find Mexican auto insurance a great way to attract new customers. If word spreads that your agency offers Mexican auto insurance, it is possible to attract new customers. Most customers will be happy to talk with you about their domestic insurance requirements once you have solved their Mexico insurance problem. Mexican auto insurance can also be a great way to build customer loyalty and retain your clients. Your customers will be less likely to visit your competitor offering Mexican insurance if you offer it.
If you’re looking to expand your insurance agency or retain existing clients, it’s worth seriously considering being appointed to sell Mexican tourist auto insurance. It will be the most beneficial and easy-to-sell product you have ever sold.