As a collective group, we have used quite a few insurance lead services over our time. With technology driving constant change, we are seeing new vendors enter the market every day. There are plenty of lead services out there to avoid so our focus will be highlighting the services that we recommend. Below is our current list of the top insurance lead providers for January 2020.
Pro Tip: Take advantage of our negotiated best in industry discounts and free lead match offers to test new vendors at bargain rates.
Recommended Lead Services
Insurance Lead Buying FAQs
There are a lot of factors to consider when selecting lead sources. In turn, a lot of questions have been asked since InsuranceLeadsGuide went live in 2009. While most of the answers can be found throughout this site, below is an aggregated list of frequently asked questions.
Frequently Asked Questions
- Which lead company is the best?
- How much do insurance leads cost?
- Do these companies provide fresh leads?
- What exactly is an insurance lead?
- Do these companies sell shared leads or exclusive leads?
- How do these companies generate insurance leads?
- What happens if I get a bad lead?
- Can I buy leads for niche insurance products?
- What kind of return on investment should I expect if I buy leads?
Which lead company is the best?
In short, it depends. There is no simple answer to this question because lead sources and quality can vary from provider to provider based on many variables. The primary factors involved are product line and location.
The best lead sources are quality consumer insurance websites that generate high-intent traffic from search engines. This consumer lead generation traffic can vary based on changes to local and global search algorithm changes.
The best strategy is to select the top lead providers based on your needs to see who has the best coverage in your area.
How much do insurance leads cost?
Lead costs vary from provider to provider based on product line and distribution.
In general, a shared insurance lead will cost anywhere from $5 to $25 based on product lines and filters.
Shared leads should be delivered in near real-time and ideally sold to 4 or fewer lead buyers (which the case with vendors listed here)
Exclusive insurance leads typically cost $25 to $100 or more based on product line and delivery medium.
Exclusive leads are sent to only one buyer with live call transfers coming at a premium over exclusive web-based leads.
While cost is a primary concern with new lead buyers, we suggest giving lead cost minimal consideration when testing a new lead provider.
The reason for this advice is because the lead cost is only part of the equation when choosing a lead company. Lead quality is just as vital.
Agent Smith buys 20 life insurance leads from Lead Company A for $20 per lead and writes four policies.
Agent Smith buys 40 life insurance leads from Lead Company B for $10 per lead and writes two policies.
In each example above Agent Smith invested $400 in insurance leads. While the $10 leads might have seemed like the better choice up front, after testing the lead sources, Agent Smith realized the leads with a higher price point from Lead Company A were more profitable and required less overall time to work.
Do these companies provide fresh leads?
Yes. The companies listed on this page sell fresh leads that are delivered almost immediately after the consumer requests a quote.
Other viable lead sources on the market offer aged leads at a lower price point. While aged leads can be a valuable component of an insurance lead acquisition strategy, we have found live leads to be the best overall value for marketing spend because of the ability to engage with consumers while their intent is at its highest.
What exactly is an insurance lead?
An insurance lead is the contact information of a prospect that has shown interest in being contacted regarding an insurance product.
The term “lead” however, is regularly used loosely to the benefit list services. Data providers that sell contact lists often use the term “lead” in advertising copy to make their product appear to be a better value in comparison to lead services.
These data lists are not actual leads because the contacts listed have shown no intent or interest in being contacted about an insurance product. While a targeted list can be an excellent source for direct mail and telemarketing, the contacts listed are not leads.
Most of the companies listed on this page sell shared insurance leads. Some of the providers also sell exclusive insurance leads via web form or live call transfer.
How do these companies generate insurance leads?
The best insurance lead providers generate leads from high-quality consumer insurance websites that rely on search engine traffic (organic or paid). The lead provider or affiliate partners may own these websites.
It is best to avoid the providers that utilize incentive-based advertising, spammy telemarketing, interruption-based marketing focusing on an extremely low price point and those that allow false contact information to pass through. These low-quality lead generation sources are very apparent when contact is made.
To scale and filter leads in near real-time all providers will have some bogus leads get through. Lead buyers should be able to get credit back for any bad leads delivered.
Lead companies that consistently deliver leads with no interest in insurance, mention winning a prize or don’t have a recollection of requesting a quote are likely to have poor affiliate controls or are intentionally leveraging spammy lead generation sources.
What happens if I get a bad lead?
Leads that contain obviously fake information or have no knowledge of requesting a quote should be easily credited back to the lead buyer.
Beware of lead services that make lead crediting overly complicated or require credit requests for more than 15% of leads delivered.
Can I buy leads for niche insurance products?
Yes. In most cases, leads are available for niche products.
Some lead services have niche product lines available by default. With others, you may still be able to acquire leads for a niche product line through the use of filters.
All of the services listed on this page offer filters across many data points allowing buyers to target specific prospects.
Below are a few commonly requested lead types that can found by applying filters to a primary line. Please keep in mind that highly targeted filters will result in much lower lead delivery.
|Primary Line||Niche Lines With Filters|
|Life Insurance||Final Expense, Mortgage Protection, Annuities (in some cases)|
|Health Insurance||Medicare, T65, Cancer, Group Auto, LTC|
|Auto Insurance||SR-22, Multi-Policy, Classic Car, Truck, RV, Recreational Vehicle|
|Home Insurance||Condo, Vacation Property, Renters|
|Commercial Insurance||Fleet, Truck, Group Health|
What kind of return on investment should I expect if I buy leads?
There is no easy answer to this question. Return on investment and close rate are relative to a lead buyer’s product knowledge, sales experience, follow up process and speed to respond to an incoming lead.
With a firm grasp on all of the above, the general close rate to target is somewhere around 10% with shared insurance leads. Depending on your product line and commission structure you may be able to close at a much higher rate or turn a profit at a lower close rate. We published a simple lead ROI calculator to help crunch the numbers.
It is crucial that new lead buyers factor the channel in comparison to all other marketing and lead generation methods. We have found good lead companies to be the best overall value. Finding a good lead company for your product line and territory requires some testing, but it well worth the effort.
A final profitability tip regarding all lead acquisition channels is to focus on exceptional service and adding more-than-expected value to the clientele you already have. There is no better source of new leads.
If each new client averages one additional client via word of mouth referral, you will be profitable as long are you can break-even with your lead sources. A service focus will also ensure a higher renewal rate which is a significant profitability component when recurring commissions are involved.
Ready to get started?
Head back to the top of the page to view our recommended lead companies.
The list above is by no means comprehensive of the good insurance lead services online. Our current lead vendor list focuses solely on internet shared lead services.
We make regular updates so please check back. For update notifications via email (and get subscriber-only content), please subscribe to our mailing list.