AAA Signature Series Home Insurance Owner s Manual

Transcription

1 1 AAA Signature Series Home Insurance Owner s Manual

2 Grow Your Business and Reward Members Welcome to AAA Signature Series Home Insurance, a new way to provide members with personalized value and the protection they expect from AAA. This new product is part of the Signature Series portfolio, offering customized home insurance solutions with more coverage options and more ways to save. AAA Home Insurance Can Help You Achieve Your Business Goals OPPORTUNITY Members with AAA Auto Insurance have a strong incentive to add Home Insurance. They already rely on us for personal service, and now with Home Insurance, they can enjoy new Loyalty discounts along with Membership and Multi-policy savings. Plus with AAA Home Insurance, they get an additional discount on Auto Insurance. LOYALTY Deepen your customer relationships by tailoring AAA Home Insurance to meet each customer s unique coverage needs. You ll boost retention since members who have both AAA Auto and Home Insurance keep their auto insurance longer. You can also reward tenured members with additional coverage options. SIMPLICITY A single consistent product across all states, designed to complement Signature Series Auto, makes AAA Home Insurance easier to sell and service. DON T FORGET Signature Series is an internal name only. This name will not be used in any customer-facing materials. When talking to customers, continue to say, AAA Home Insurance. There may be differences in product features and discounts by state. Please check the Agent Guide. 1

3 One Insurance Product Customized Three Ways The most popular insurance endorsements have been brought together to create insurance coverage packages customized for different needs. Insurance needs often differ for customers based on their home value and personal situation. The Signature Series Home packages are designed to provide the right coverage at the right value for each member s unique needs. They also simplify sales. With select endorsements part of each package, overall coverage is easier to understand and sell. HERITAGE This is the foundational home protection package containing the core coverage most homeowners want and need. It can also be customized with additional endorsements to meet individual member needs. This option is available to all members who qualify for Homeowners Insurance. LEGACY More comprehensive, this option contains the core coverage found in Heritage, plus additional popular endorsements for homeowners with expanded needs. It is available based on their home value and insurance score. PRESTIGE Our most extensive home protection package, this option addresses a wider scope of homeowner needs with increased coverage amounts and additional endorsements. It is also available based on their home value and insurance score. Once you determine the right package, you can customize a policy by adding endorsements and increasing limits to meet members unique needs. Members with 10 or more consecutive years of membership qualify for all three coverage options. COMPREHENSIVE COVERAGE Members receive foundational coverage with the Heritage package and the option for added endorsements and higher coverage amounts with the Legacy and Prestige packages. COVERAGES Coverage A Specified Increased Insurance Limit JEWELRY, WATCHES, FURS THEFT WATERCRAFT/TRAILERS LOSS ASSESSMENT BUILDING CODE UPGRADE FUNGI, WET ROT AND DRY ROT OR BACTERIA REPLACEMENT COST ON CONTENTS MORTGAGE PROTECTION WATER BACKUP IDENTITY FRAUD EXPENSE PERSONAL PROPERTY OPEN PERILS REBUILD TO GREEN Coverage Amount Comparison* HERITAGE LEGACY *Increased coverage amounts may be available for some of these endorsements. PRESTIGE Three PACKAGES, not three products AAA Home Insurance is one product packaged three ways. Heritage, Legacy and Prestige are primarily internal names. The names will not be used externally or in marketing materials. + Comprehensive coverage + Extensive coverage Core Coverage 3 4

4 Provide Members the Best Possible Value Members get more when they choose AAA Home Insurance with multiple opportunities for savings. Discounts that reward membership and long-term relationships, plus multi-policy and new customerspecific discounts add up to the best possible value for each policyholder. Reward our Members Membership and Loyalty Discounts The new Loyalty discount of up to 15% combined with the Membership discount of 5% can add up to 20% in total premium savings. Multi-Policy Discounts Members who own AAA Home Insurance and additional AAA Insurance policies such as Auto, Rental or Life can save up to 30%. New Single Event Deductible Pay only one deductible Auto or Home for a single event that results in a covered loss to both the AAA insured home and AAA insured auto. Discount on AAA Auto Insurance Members with AAA Auto Insurance will also get a discount for adding AAA Home Insurance. More discounts are also available 6

5 Get Acquainted with Your Ideal Customer Current AAA members who own AAA Auto Insurance are your best prospects. They have experienced our 100-year tradition of outstanding service and will benefit most from discount savings. MEET KEN BETSY MOST COMPETITIVE MEET KEN MOST COMPETITIVE 33 years old AAA Auto Insurance for 5 years 45 years old AAA Auto Insurance for 1 year Single with young children Coverage A home value low Owns 2 cars AAA member for 5 years AAA Condominium Insurance for 5 years Married with teenagers Coverage A home value medium Owns 3 cars AAA member for 15 years AAA Life Insurance Previous auto insurance with another carrier for 5 years Betsy just bought a home after selling her condo. She also did some renovation of her new home. Betsy s primary coverage need is Dwelling Replacement Cost. SELLING POINTS FOR BETSY Heritage is the best fit, given that Betsy does not need more than foundational coverage. She also may want Replacement Cost on Contents coverage, which is not included in Heritage. Discounts for Betsy include: 5% Membership, 15% Loyalty, 25% Multi-policy for Auto and Home Insurance, Newly Purchased, Home Renovation and Young Homeowner. BEST FIT: HERITAGE Ken just refinanced his mortgage. He recently bought AAA Life Insurance and purchased AAA Auto Insurance to cover his teenager s new car. His primary coverage needs include Dwelling and Contents Replacement Cost. SELLING POINTS FOR KEN Even though Ken qualifies for Prestige as a 10+ year AAA Member, his best fit is Legacy with his medium-value home and his interest in mortgage protection coverage. With young drivers at home, he may benefit from a Personal Liability Umbrella Policy. Discounts for Ken include: 5% Membership, 10% Loyalty, and 27% Multi-policy for AAA Auto, Home and Life Insurance. BEST FIT: LEGACY This profile is similar to, but not the same as, Ken s in the Auto Insurance Owner s Manual. 7 8

6 Identify Your Customers Unique Needs The package a member qualifies for might be different from the one that best meets their needs. Getting to know what s important to your prospects gets results. MEET SARAH MOST COMPETITIVE MEET ALEX COMPETITIVE 63 years old Married Coverage A home value high Rental property owner Owns 2 cars AAA member for 9 years AAA Auto Insurance for 9 years 55 years old Married Coverage A home value medium Owns 2 cars Belongs to a Homeowner s Association AAA Auto Insurance for 10 years Prior fire claim of $10,000 in the past 3 years Watercraft owner AAA member for 10 years Given good experience as a AAA member and auto policyholder, Sarah is interested in potentially switching her home insurance. Her primary coverage needs include Dwelling and Contents Replacement Costs, Personal Property with Open Perils and higher limits for jewelry. SELLING POINTS FOR SARAH Prestige is the best fit as it includes all of the coverage Sarah needs, and also is a better value than if she were to buy individual coverages. She may want Scheduled Personal Property coverage for her high-value belongings and a Personal Liability Umbrella Policy for extra liability protection. Discounts for Sarah include: 5% Membership, 10% Loyalty, 30% Multi-policy for AAA Auto, Home and Personal Liability Umbrella, and Mature Homeowner. BEST FIT: PRESTIGE This profile is similar to, but not the same as, Sarah s in the Auto Insurance Owner s Manual. An empty nester who is downsizing as he approaches retirement, Alex recently bought a home. Value is very important to him. His primary coverage needs are Dwelling Replacement Cost and Loss Assessment Coverage due to his HOA membership. SELLING POINTS FOR ALEX Alex qualifies for Prestige, but price sensitivity and his medium-value home make Heritage the best fit. He also may consider Replacement Cost on Contents, which is not included in Heritage. Discounts for Alex include: 5% Membership, 10% Loyalty, 25% Multi-policy for AAA Auto and Home Insurance, and Mature Homeowner. BEST FIT: HERITAGE 9 10

7 Evaluate Additional Customers Whether prospects are new homeowners or new to AAA, knowing their personal situations and concerns will help you close on a policy with the right fit. MEET LAURIE COMPETITIVE MEET GREG LEAST COMPETITIVE 35 years old Single Coverage A home value medium Owns 1 car AAA member for 3 years AAA Auto Insurance for 3 years Previous auto insurance with another carrier for 2 years AAA Renter s Insurance for 3 years 25 years old Single Coverage A home value low Owns 1 car AAA member for 1 year Previous auto insurance with another carrier for 1 year Laurie just bought a home. She is a member, current auto and prior renters policyholder. Her primary coverage needs include Dwelling and Replacement Cost on Contents, Mortgage Payment and Identity Fraud Protection. SELLING POINTS FOR LAURIE With her new mortgage higher than her former rent, Laurie finds the Mortgage Payment Protection in Legacy attractive. As a new mortgage holder, her awareness of Identity Fraud is high and she wants coverage. Discounts for Laurie include: 5% Membership, 11% Loyalty, 25% Multi-policy for AAA Auto and Home Insurance and Newly Purchased. BEST FIT: LEGACY Greg was recently in an auto accident with a violation. He is shopping for auto insurance and also considering new home insurance. His core coverage need is Dwelling Replacement Cost. SELLING POINTS FOR GREG Greg qualifies for Heritage, and could be a good prospect for buying both home and auto insurance. While his prior claim history will result in a higher premium, with Heritage he can receive the core coverage he needs. Greg would benefit from buying both AAA Home and Auto Insurance to receive a better price/value overall. Discounts for Greg include: 5% Membership, 2% Loyalty and Young Homeowner. BEST FIT: HERITAGE 11 12

8 We Put Members First Key messages about AAA Insurance for your members: WE DO INSURANCE DIFFERENTLY AAA is more than just another insurance company. We re an American institution with a 100-year history of keeping members safe and secure. WE RE AT YOUR SERVICE At AAA, we re committed to providing members with the highestpossible level of personal service. When you sign up for AAA Home Insurance, you re not just buying a policy you re strengthening your relationship with a company that really cares. WE VE GOT YOU COVERED AAA Agents are always ready to help you in every local office or over the phone. We re happy to provide the trusted guidance you need to get the coverage that s right for you. WE SOLVE PROBLEMS If anything ever goes wrong, we make the claims process quick and easy, from your first call to problem solved. In fact, our claims service is just as dependable as AAA Emergency Road Service. WE RE HERE FOR MEMBERS You can experience the everyday value of AAA without ever making a claim. Members are supported by the nation s fastest and most reliable road service. WE RE LOYAL TO LOYALTY Members receive numerous discounts and perks, including a 5% AAA Membership discount and a Loyalty discount of up to 15%. It s our way of saying "thank you" for being a part of the AAA family. Be sure to check out the enclosed Quick Reference Guides for details, which may vary by state

9 Insurance provided by CSAA Insurance Group, a AAA Insurer CSAA Insurance Group