How to Close Equipment Breakdown

The following messages and closing techniques are designed to make selling Equipment Breakdown coverage as fast and easy as quoting it. We suggest that you follow a simple three step process: 1.) Offer and quote. 2.) Answer questions. 3.) Close. Keep your message short and simple using only the essential facts. Insureds rely on your professional judgment to make decisions so confidently assert the need for the coverage. Adapt these suggestions to whatever fits your own style and proves effective.

Closing the Sale

Don’t be shy about asking for the business. The relationship you already have with the customer entitles you to advise them about their insurance needs.

“Just the Facts” Close

If I can prove to you, with actual loss examples that happened to businesses just like yours, that equipment breakdown is an essential coverage, would you agree to add it? (Cite loss examples for businesses like theirs from HSB IQ equipment exposures guide.)

"Equipment has Changed" Close

I understand and I’d agree with you if it was ten years ago. But equipment has changed, so have the risks. Most equipment today has sensitive electronic components that can be damaged by a power surge within a second. This coverage will pay you for the damage. Without it you pay. Why don’t we add the coverage so you don’t get stuck with the bill?

“Glass Coverage” Close

Look, you have glass coverage in your policy. A plate glass window goes for about $1,000 to $1,500. An equipment breakdown can cost thousands and the business income you lose if you can’t operate will cost thousands more. Shouldn’t we add this coverage which protects you for even greater risks?

“Endorsement” Close

Equipment Breakdown is now purchased by most businesses with equipment like yours. In fact (name a business like theirs) has equipment breakdown coverage. Shouldn’t I add it to your program too?

“Cheaper Isn’t Better” Close

Well we can make it cheaper by not including business interruption insurance that pays for income losses that result from an equipment breakdown that closes your business. Do you want to do that or would you rather include business interruption for equipment breakdown?

“Help me Understand” Close

Help me understand something. Your policy includes coverage for all sorts of things like “falling objects” so if a meteor or satellite comes through your ceiling you’re insured. The odds of that happening are about one in a zillion. The odds of an equipment breakdown are more like one in twenty, maybe worse. Shouldn’t we add this coverage when the risk is much more likely?