Overcoming Objections

Question 1

Debtor: “My agent for State Farm told me I do not have a balance, so I paid this already. Any more calls will be considered harassment.”

Question 2

Debtor: I mailed the check off to my Insurance company a week ago.

Question 3

Debtor: “this is the first time I am hearing about this, I need you to mail me the invoices. “

Question 4

Debtor: “I have issues with how they completed the audit without me, and that amount is too much, I know they owe me money”

Question 5

Debtor: “Let me tell you something punk” You can go “PROFANITY LACED TIRADE FOR NEARLY 30 SEC

Question 6

Debtor: “And I know workers comp insurance and I know insurance better than any of you yankees at your law farm, so when I tell you I don’t gotta do an audit because I canceled my coverage after 4 months, you can take that to the bank Missy.”

Question 7

Debtor: I am already paying 3 to 4 Xs the amount with this workers compensation policy

Question 8

Debtor: I know I am not going to get sued over a couple thousand dollars.

Answer 8

We make our recommendations to our client on a case by case basis, and …….., but there are more consequences than defending a possible law suit, which includes but not limited to being placed in an assigned risk pool, where your Premiums are three to five times the normal amount. And if your current carrier becomes aware of your refusal to full resolve this open balance owed, it could impact your current coverage and your ability to obtain coverage in the future.

Question 9

Debtor: I canceled my policy and went to another insurance company within a couple months, so I know I am owed a refund.

Question 10

Debtor: ‘You said it can affect my other policies, current and future. How does that occur?”

Answer 10

If your current carrier becomes aware of this outstanding balance, they may elect to cancel policies or deny coverage for not paying prior insurance premiums.

Question 11

Debtor: “I am already in conversation with my State Farm rep about this past due balance”

Answer 11

You are correct, the policy is canceled. However, you did not pay for the time the policy was active. If you would have filed a valid claim at that time, per the T&C of your agreement, they would have paid out on your claim.

Question 12

Debtor: “I did not want to renew that”

ONLY EARNED PREMIUM OWED

Answer 12

My client was required to provide you what’s commonly referred to as a “grace period” of coverage unless they received a written notice of cancellation. Therefore, there was coverage provided beyond what you paid for so the balance is contractually due. Also, If you would have filed a valid claim at that time, per the T&C of your agreement, they would have paid out on your claim.

Question 13

Debtor: “I replaced that policy with another policy”

ONLY EARNED PREMIUM OWED

Answer 13

I understand, however, you still owe for a period of time our client covered you. Essentially, you received more coverage than you paid for. If you had duplicate coverage , you will have to provide proof of this replacement coverage by providing the declaration page and the LPR. I am afraid our client will not change the cancelation date without this proof.

Question 14

debtor “ I called my agent to cancel, and they were supposed to cancel the policy for me.”

Answer 14

I have no doubt you requested yhour agent to cancel your policy, but your agent cannot cancel coverage without you signing the LPR. If you did not sign the LPR form, than your coverage was canceled due to non-payment, which is usually afterf a 45-60 days grace period.

Question 15

Debtor: I had coverage at that time of the policy

Answer 15

If you had duplicate coverage , you will have to provide proof of this replacement coverage by providing the declaration page and the LPR. I am afraid our client will not change the cancelation date without this proof.

Question 16

Debtor “No Habla English”

Answer is the procedure if you run across this type of response.

Answer 16

More often than not, the debtor speaks English well enough to hold a conversation; therefore, it is a common stall tactic. However. There are times the debtor and the collection will benefit from a Spanish speaking collector. If you feel like the debtor will not or cannot communicate, then forward to Chris with the primary language box checked as Spanish.

Question 17

Debtor: My agent did not estimate my exposure properly

Answer 17

If your agent incorrectly estimated your exposure, than it would be reconciled at the end of the policy during the audit. If this resulted in a larger payment due after audit, Remember, the agent received the estimated revenue/payroll numbers from your company. It is also your responsibility to inform your agent if there are major changes in your sales/payroll.

Question 18

debtor: “company went OOB”

Answer 18

Very sorry to hear that, I know how challenging it has been to keep a business operating over the last couple of years.
Given these circumstances, our client has approved a settlement……..

Question 19

Debtor: “I sold the company” OR “ I am the new owner, the former owner is responsible for the bill.”

Answer 19

” I need proof of the active sale date, specs of the active sale bc the underwriter will not just cancel

Active Sale- were your creditors notified, was it an asset only sale or

Question 20

Debtor: “why should I pay the audit balance owed when I know the amount owed will decrease once the audit is completed.

Question 21

Debtor: Our company wants to comply with the audit first before we make a payment

For an assigned risk pool policy

Question 22

Debtor: We plan to comply with the audit

Answer 22

We appreciate that you want to comply with the audit, but consider this option first. Once the audit is revised from an estimated to an actual audit, a settlement will no longer be an option. What we are offering with this settlement is a certainty…….

Question 24

Debtor: My agent screwed up and did not add one of my properties,so I am not paying this balance.

Answer 24

This is a dispute you have with your agent And has nothing to do with our client. This is a separate matter altogether, and cannot be included in this collection.

Question 25

Debtor: My insurance Company overpaid a claim that we did not want them to cover in the first place.

Answer 25

When an adjuster is scheduled to review the claim, they take all evidence into consideration and your insurance company is obligated to resolve the claim per liability guidelines. This is done to protect the insured and the insurance company. The adjuster is the one that will determine what and how much gets paid on claim.