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Case Study · Insurance Brokerage · Google Ads

One account since 2022, more phone calls every year since 2023.

A Lower Mainland insurance brokerage we rebuilt in 2022 and still run. Client withheld by NDA. Every number below comes from the live Google Ads account, January 2022 to October 2026.

$3.7M
Ad spend stewarded
82,900
Phone calls from ads
19,100+
Website quote forms
−43%
Average cost per click
TL;DR
Brief
A Lower Mainland insurance brokerage with strong walk-in business and almost no digital pipeline. Goal: predictable inbound from Google Ads, without lighting up the budget on broad-match clicks. The answer was patience plus aggressive intent shaping.
The Situation · May 2022

A respected brokerage with almost no digital pipeline.

An established brokerage with a strong referral base and a loyal walk-in flow. They were not in trouble. They were in stasis. Every year looked like the one before.

Their previous Google Ads account had been managed by a generalist agency on a percent-of-spend model. Broad-match keywords, near-zero negative-keyword work, no conversion tracking beyond “click on phone number”. The account was spending real money, and nobody could say which clicks turned into customers.

What we inherited at kickoff:

The state of the account

A thin campaign structure built on broad-match keywords, many of them irrelevant (“insurance jobs vancouver”, “icbc claim form”, “life insurance for dogs”). No negative keyword list. No conversion tracking inside Google Ads itself, just a phone number swap that fed everything into one bucket.

The owner's diagnosis was correct: “We're paying for a lot of clicks that aren't even our customers.”

We're paying for a lot of clicks that aren't even our customers.

The first month was almost entirely demolition. We turned off every broad-match keyword, replaced them with phrase and exact match variants, built a first negative-keyword list from search-term reports, and rebuilt conversion tracking from scratch: calls, forms, and call-duration thresholds (a 12-second call is rarely an opportunity).

Then we waited. Soft-launched the new build with a capped daily budget. The first thirty days were quiet on purpose. We were learning what the account actually looked like when the broad-match noise was gone.

Angarum Media griffin, Google Ads performance for an insurance brokerage
The work · Google Ads, since 2022
The Timeline · 2022 to 2026

Phase by phase, what the year looked like.

The account didn't do anything dramatic in any single quarter. It just got slightly sharper every ninety days, quarter after quarter.

2022
The Cleanup Year
Demolition + rebuild, with spend paused for a few weeks mid-year while we rebuilt tracking. The negative-keyword list starts from zero. Full year, including the months before we took over: $512K spend, 15,300 phone calls, $2.43 average cost per click.
2023
The Compounding Year
Search-term mining becomes routine. First A/B tests on ad copy ship. New campaigns split out by line of business (home, auto, commercial, life). Average cost per click drops to $1.39. Spend: $781K. Phone calls: 9,560.
2024
The Performance Max Year
Tested Performance Max for home + auto. Audience signals fed in from the now-large customer-list audience. Performance Max underperformed for commercial; we shut it off and kept Search. Average cost per click hits its low at $1.15. Spend: $670K. Phone calls: 12,700.
2025
The Volume Year
Spend scaled up, and calls grew faster than spend. Spend: $954K. Phone calls: 22,200, up 75% on 2024. Average cost per click: $1.41.
2026 · through October 9
The Scale Year
23,100 phone calls in nine months, already more than all of 2025, on $781K of spend. Average cost per click: $1.38. Cost per phone call: about $34, down from $82 in 2023.
Lifetime · January 2022 to October 2026
The Aggregate
$3.7M stewarded. 82,900 phone calls from ads. 19,100+ website quote forms. Average cost per click down 43%, from $2.43 to $1.38. The account never went viral. It just got patient.
Begin Your Royal Road

Build something made to endure.

The first charters were carved in clay to outlast the hands that shaped them. We build brands and demand systems on the same principle: clear, considered, and made to last.

Begin a Project
The Results · Lifetime

The aggregate since 2022.

82,900
Phone calls from ads
Jan 2022 to Oct 2026
19,100+
Website quote forms
Site forms only
$34
Cost per phone call
2026, down from $82 in 2023
$3.7M
Ad spend stewarded
Jan 2022 to Oct 2026
Average cost per click, year over year
$2.50 $2.00 $1.50 $1.00 $2.43 $1.39 $1.15 $1.41 $1.38 2022 2023 2024 2025 2026*

Pulled from the Google Ads Avg. CPC column · calendar years · 2026 through October 9

How this compares

Next to the industry average for insurance search ads.

WordStream by LocaliQ publishes Google Ads benchmarks by industry every year. Here is this account in 2026 next to the Finance and Insurance averages.

MetricThis account, 2026Finance & Insurance average
Average cost per click$1.38$3.39 2026 report
Cost per conversion$14.63$74.44 cost per lead, 2026 report
Conversion rateabout 9.4% estimated2.55% 2025 report
Cost per phone call$34Not reported

Read this as a rough guide, not a scoreboard. The benchmarks come from US search campaigns, and this account runs in the Lower Mainland, where currency and auction prices differ. Every account also counts conversions its own way. We estimated the conversion rate from spend divided by average cost per click.

One number moved the wrong way: cost per conversion rose from $12.18 in 2024 to $16.03 in 2025, then came back to $14.63 in 2026. Cost per phone call, the number the owner watches, has fallen every year since 2023.

Sources: WordStream by LocaliQ, Google Ads Benchmarks 2026 and Google Ads Benchmarks 2025.

Begin a conversation

Tell us your category and what a good year looks like.

We'll come back inside one business day with whether the approach above applies to your account, and what to expect quarter by quarter.

The Playbook

What we'd do again, in any account.

Three moves that aren't glamorous and aren't in most agency decks. They built this account.

01

Negative-keyword discipline as a weekly habit

Every week, the team pulls the search-term report and adds new negative keywords. New junk searches show up every month, so the job never ends. The work is boring. The savings compound.

02

Brand defense before brand attack

Branded campaigns went live early in the rebuild, not as an afterthought. Competitors can bid on your name, and your own branded clicks are the cheapest ones you will ever buy. Pay for them before someone else pays more to send that searcher to a comparison site.

03

Cost per call as the North Star

No vanity metrics: no impressions, click-through-rate, or ad position. The owner sees one number: cost per phone call, week over week, on one dashboard. The simpler the dashboard, the less an agency can hide. If it rises two weeks running, we explain why before being asked.

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About this case study

Plain answers. Pulled from the account.

How do insurance agents generate leads?
The most reliable channel is Google Ads on high-intent search terms (people actively looking for a quote), backed by conversion tracking and disciplined negative keywords. This brokerage's ads produced 82,900 phone calls from January 2022 to October 2026, and its website quote forms have collected more than 19,100 submissions.
How much do insurance leads cost?
Bought insurance leads often run $15 to $50 or more each and are resold to competitors. Leads you generate through Google Ads are yours alone, and they get cheaper as the account matures: this brokerage paid about $82 per phone call in 2023 and about $34 in 2026.
Does Google Ads work for insurance brokers?
Yes, when it is built on intent and managed tightly. Broad-match insurance keywords burn budget; phrase and exact targeting with disciplined negative keywords wins. This account has stewarded $3.7M since January 2022. Average cost per click fell from $2.43 in 2022 to $1.38 in 2026, and yearly phone calls grew from 9,560 in 2023 to 22,200 in 2025.
How long does it take for insurance Google Ads to work?
Expect a noisy first one to three months while tracking and negative keywords mature, then steady improvement. This account's cost per click dropped 43% after the 2022 rebuild, but call volume took longer: 12,700 calls in 2024, then 22,200 in 2025, and 23,100 in 2026 before October. The gains come from compounding, not quick wins.
How do these results compare to industry benchmarks?
Well ahead on cost. WordStream's 2026 Google Ads benchmarks put the average Finance and Insurance search click at $3.39 and the average cost per lead at $74.44. This account averaged $1.38 per click and $14.63 per conversion in 2026. The benchmarks come from US campaigns and every account counts conversions its own way, so treat it as a rough comparison.
Can you replicate these results for my business?
We can't guarantee identical numbers. Every category, brand and market is different. What is repeatable is the approach: documented strategy, weekly negative-keyword work, honest cost-per-call reporting, and zero markup on ad spend. The numbers come from running that for years, not weeks. Read the Google Ads practice or begin a conversation.