Life’s a gamble and one way to give ourselves an upper hand is with insurance affiliate programs. Insurance is a groan-inducing bill few will need to use. Yet, a bill people are thankful for when if the time comes.
Insurance is a requirement for most daily operations whether it’s driving a vehicle or operating a business. It protects us in those times of dire, medical and legal needs. One would think it easy to promote insurance programs due to its necessity – that’s half true.
Yes, insurance is a given but it remains a tough sell. It’s a multi-billion-dollar industry with equally deep pockets for advertising and marketing. You’re taking on a huge challenge adding high paying insurance offers to your website or blog. But, this is the type of promotion with massive paydays.
You’ll soon learn why insurance affiliate programs are among the hottest monetization methods.
What You Need to Know about Being an Insurance Affiliate
Insurance is a boring topic, we’ll give you that, but the amount of money exchanged should more than compensate for your addition of insurance programs on your blog. Remember, most insurance plans are a necessity. Simply introduce options, tout the benefits (and savings), and half the effort is done.
There are plenty of avenues to take with the insurance offers, too, including:
A legal blog could realistically touch on each of these topics. Niche-specific blogs, like a travel blog, would obviously promote travel insurance (though there are options for car and home). A business blog has a strong position to promote business insurance – it’s all aligned.
Most insurance affiliates make money by doing the following:
- Writing reviews
- Listing FAQs
- Rate feeds
Insurance affiliate programs include a wide selection of banners and copy to quickly add promotions to a site. Or, included in a marketing campaign. The better ones have recommendation engines and widgets to let visitors pick and chose plans from within an embedded section of the site.
Plans from Allstate, Netquote, Hiscox, Esurance, and others, give affiliates an opportunity to earn a commission for each referral inquiring about auto, motorcycle, renters, and business quotes.
Many insurance programs pay handsomely.
It’s not uncommon having a referral sign up for multiple offers in one go, either. A referral sent to purchase business insurance may opt for vehicle insurance, too, when factoring their fleet. The value proposition of combining coverage is one of the stronger points when promoting these insurance offers.
In all, it’s not an entirely thrilling topic for a blog or marketing campaign but it’s one few get fully involved in its promotion. Meaning, there’s a lot of opportunities for someone to create a magnificent insurance/legal blog.
The Insurance Market: By the Numbers
Insurance is about managing risks. If clients have a mix of smarts, luck, and self-consciousness then they’ll never need the insurance which is a big win for the insurance company. If they go through troubles, then the insurance company pays out.
Premiums are adjusted based on factors like age, sex, location, and more.
Many are willing to pay extra for fuller coverage (which increases profit margins for the company… and ultimately payouts for affiliates since those customers have high lifetime value).
Here’s what the industry looks like on paper:
- There are more than 5,977 insurance companies within the United States
- The net premiums of insurance topped $1.1 trillion in 2016
- 8% of insurance goes to life/health, 47.2% goes to property/casualty
- About 87% of drivers have vehicle insurance
- About 95% of homeowners have home owner’s insurance
- About 91% of people have medical insurance
There are several high-profile insurance brands most consumers have come to know. The difference in their offers isn’t entirely dramatic, though. You’ve noticed this when shopping for plans. Some price differences occur but what most look for is the scope of coverage per premium.
Basically, list any type of insurance program and you’ll have good offers and promotions.
It’s not uncommon to have people change their insurance providers every couple of years. This tends to happen due to rate increases and switching jobs. The retention rate for insurance companies is high (around 93-95%) but this does
give you access to millions
making regular switches.
Why You Should Promote Insurance Affiliate Programs and Offers
There are quite a few ways to include insurance offers:
- Recommendation site/service
- Embedded quote and policy tools
- Injecting links and creative into posts
- Pointing to brands in resource pages
You could dedicate an authority site to promoting insurance or niche down to specific needs. There are options for including promotions with existing posts and pages or tying them in as a follow-up or singular campaign based on user interest.
for insurance is the selling point.
You could talk about benefits and features of a policy. Compare price points and coverage. But, it ultimately boils down to A) do they need it? B) where can they get it, now. If A is answered Yes, then they’re already on the cusp of making a buying decision. Present them offers (B) and they’ll get it started.
There’s also the loss
that comes with not having coverage.
The fact you’re unable to operate a vehicle (legally) on the road without insurance makes it a strong selling point. Life and business insurance for tough and dangerous jobs are a given. Travel insurance is perfect for the cautious types visiting edgy locations. And, renters insurance is a must for the almost certain unexpected moments that come with apartment or homeownership.
It’s not an entirely exciting niche market… but it’s profitable.
Whether it’s Farmers or Geico, or American Family to Progressive, these are well-recognized brands you shouldn’t have trouble promoting. Conversions may prove difficult as with any affiliate efforts. But, we’re not seeing a lot of competition – this puts you in a great position to make big bucks in this niche.
How to Promote the Highest Paying Insurance Offers and Promotions
Insurance affiliates tend to take two actions:
- Integrate it with their site and topic
- Begin niche sites for a targeted industry
A business blog, for example, would have no issue adding promotional offers for business and car insurance to their site. They could talk about its importance and let the visitors consider the offers. The content could include reasons for switching or link deals to incentivize the referrals.
The alternative is niche
sites targeting topics like:
- Senior care
- Apartment rentals
- Health and wellness
The biggies are the health, wellness, security, and legal as these topics are heavily tied to emotion and logic. A health blog, for example, can do their usual content about better lifestyles and have no problems adding health insurance offers since it’s so closely aligned.
Promoting the highest paying insurance offers and promotions requires a shift in perspective.
Yes, you’re earning money with qualified referrals but the better way to think of it is how you’re helping
people secure their future and legacy. It’s about being healthy or covering legal instead of stating “you need this or else!”.
When you’re ready:
- Research and refine your target audience (ex. Small business owners)
- Create helpful content with powerful storytelling (this creates emotional attachment)
- Include comparisons and list posts detailing each of the insurance providers
- Blog or vlog insurance reviews touching on pricing, how-to, and customer service
- Talk heavily about the savings, how to switch, and the value of switching
… and become the expert in the industry.
Add a unique spin to the insurance market by making it personal. This contrasts the typical “boring” image of insurance sales. You could share personal stories involving accidents/incidents and how well the insurance company handled the situation.
Mix in the usual:
- Email newsletters
- Social media presence
- On-page SEO and backlinks
And you’ve got yourself a well-rounded insurance site/blog that’ll generate interest and inquiry about the promotions and offers.
Protect Your Life and Assets, Grow Your Value and Income
Insurance is a necessity, but challenges remain when promoting insurance affiliate programs offers.
The retention rate with the main companies like MetLife, Geico, Allstate, and Prudential is ridiculously high. Yet, every year people swap programs – and many more enter the market. A stellar site with helpful content explaining the options in layman’s terms would be most welcomed.
The insurance affiliate compensation is high, and the conversion rates are top-notch. We think you’ll love what you find in our insurance program directory. Look around, apply, and see how you can integrate these offers and promotions into your site (or make something new!).