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Tony Ondrusek is founder and publisher of Insurance & Financial Advisor and IFAwebnews.com.

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While this article on IFAwebnews.com details a trend of consumers trimming their auto coverage because of the declining buying power of their income, a solution holds true for agents regardless of the line; life, health, commercial, auto or home.

I read an article last week (I do not recall the publication) that discussed how such a downturn in the economy could be the time to actually stabilize or increase your business.

Some of the tips included:

1. get in touch with your policyholders now, before they start to price shop

2. shop for your policyholders and find ways that you can save your policyholders money by changing carriers, or changing deductibles

3. get information to your clients in the form of newsletters, letters or reprints of articles from the paper or web; become their source for information, so that they consider you an important part of their trusted circle

4. talk to your clients about any changes that they foresee in their future; this will help you to determine what — if anything — you can do to assist them with upcoming life-changing events. It will also be a good indicator of future business with them

These tips are pretty basic, and not very specific, but they got me thinking about what I need to do to hang on to current business; perhaps they will get you thinking, too.