What customers really want in a manufactured home policy 

What customers really want in a manufactured home policy 

According to the Manufactured Housing Institute, there was nearly a 12.9% increase in manufactured home shipments in the first quarter of 2015. This means more customers could be walking through your door looking for a manufactured home policy. 

Knowing what customers value in a policy can help you sell the best product for their needs and keep them coming back for years to come. At American Modern, we've found that customers consider a variety of factors when shopping for manufactured home insurance, including: 

Price. Just like other customers, manufactured home customers are price conscious, but they rarely make a purchasing decision on price alone. In fact, some customers might question whether they'll get a quality product with the lowest priced policy. 

Knowledge. Manufactured home customers want an insurer who understands insurance needs that could be unique to manufactured homes, such as how to insure a manufactured home while being moved and whether additional coverage is required for a tool shed or detached garage. 

Claims performance. Filing a claim can be an emotional time for policyholders, so it's important that the claims process be fast and hassle free. It's also important that customers get help from knowledgeable, compassionate and responsive adjusters. 

Customer service. Manufactured home customers want fast and friendly service and they want to be taken care of the first time they call. The insurer is a reflection of you and if customers are dissatisfied with how the insurer treats them they are less likely to renew their policy. 

Resourceful. Is the insurer building lasting relationships with customers by providing them with maintenance and loss prevention tips? For example, do customers have access to educational resources on how to seal their roof, inspect for loose or missing flashing around the home, or assess whether the home is properly anchored to the ground? 

Flexibility. When it comes to manufactured homes, some insurers offer more deductible choices as well as the option to insure the home for a stated value instead of a cash value. Manufactured home customers might also want to take advantage of flexible deductible options and payment schedules as well as convenient online tools to monitor and manage their policy. 

Before recommending a manufactured home policy be sure you understand that customers aren't just concerned with price. While price is important, these other factors can tip the scales in your favor, ensure the customer is satisfied with their experience and keeps walking through your door. 

 

Visit amig.com/myhub and explore the "Agent Toolbox." You'll find helpful infographics, product sell sheets and more to help you learn how you can use specialty residential lines as your go-to plays to score unusual business.

This content is for American Modern agents only. This is not a solicitation.

Policies are written by the insurers of American Modern Insurance Group, Inc., including American Modern Home Insurance Company d/b/a in CA American Modern Insurance Company (Lic. No 2222-8)

Ted Fischer

Vice President National Accounts at American Modern Insurance Group

8y

I believe they also want the insight of a good agent.

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Nicholas Miller

Accelerated Adjusting LLC, USA,

8y

Another thing that we have found to enhance the customer experience is the willingness of a field adjuster to bring a copy of the policy with them and to sit with the insured and help them understand it if there is an issue with coverage or ACV settlement. Producers should be doing that anyway, at the very least calling their clients annually and saying "let's go over your policy and make sure everything is right", but not all of them do. In a significant percentage of cases, the field adjuster (be they staff or independent) is the face of the company and the only person that the insured ever interacts with after securing a policy. The representation in the field sets the tone and ultimately has a dramatic effect on renewal and retention rates. Know who you are sending out on the claims, and make sure they know the stakes!

Great insight, Jim Stack, CIC, AAI! Manufactured Home customers often have the same needs as traditional homeowners, but often times are not able to easily have those needs met by standard insurance carriers.

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Todd J. Hiott, CIC

Region Vice President at American Modern Insurance Group

8y

Excellent article! Unfortunately many insured's undervalue the importance of their claims service until they need it. Knowledge and responsiveness are the cornerstones of American Modern claims service.

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