Platinum Auto: Choosing the Best Down Payment
Which is the best down payment option for your customers?
Of course your customer is the ultimate arbiter of what payment option is best for them, but as the broker you have influence to direct the consumer to the best pay plan option for the insured and for your agency.
So which option is best?
EFT - Monthly Payment Options
Sure, there are many options for your agency when selecting payment plans. But the EFT option is not only very convenient, but it also contributes to better overall retention of your customers. So, an EFT payment option should always be your first option.
Now, your customers may not want to pay all the premium at once, so the Monthly payment option is a great tool for you to slice the premium into small increments and make it easier for the customer to fit the payments into the monthly budget.
When you put it together, the Monthy EFT option should be one of your best ways to sell auto insurance.
Sun Coast General has a very competitive Monthly EFT payment option with a low down payment. We actually spread out the policy fees on our Monthly EFT policies, making the down payment even more competitive and lowering the costs to begin the policy.
Set the Monthly EFT as the Default in your rater
If you haven't already, make sure to go into your comparative rater and set all your Sun Coast Platinum Auto Insurance products to "Option - 1 EFT" to get the best and most competitve payment options for our products.
In FSC Rater follow these steps:
- Step 1 - From FSC Rater home page select "Setup" under Applications.
- Step 2 - From the Setup Menu select "Automobile"
- Step 3 - In the "Auto Company Selection" box, select the "Defaults" tab and scroll down to the Sun Coast Products.
- Step 4 - Select "Option 1 EFT" for all products.
Don't forget, EFT Monthly payment plans are a great way to get your customers low down payments, easy monthly installments, automatic payments and improve your retention.
If you are not a Sun Coast appointed producer, and would like to begin selling Platinum Auto or some of our many commercial lines products, complete an application and someone will contact you shortly for an appointment.