Employer name has been removed to protect anonymity. Bureau of labor statistics an insurance agent makes an average of 50 600 per year as of 2018.
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An aig insurance broker in the salt lake city ut area area reported making 9 per hour.
How much insurance agents make. Insurance premiums are paid for policies that cover healthcare auto home life and others. 1 000 auto insurance policy at 12 commission would net you 120 00. Life insurance renewal rates are typically 1 to 2 percent or zilch after three years.
There are also other compensation factors to think about when considering a job offer such as overtime pay bonuses and benefit packages. The position s pay can vary drastically with the lowest 10 earning less than. And while there are many things to go into how much you specifically can expect to make there s really good data for average salaries for insurance agents by state across america broken down by.
According to the u s. Without fail in surveys across basically every demographic the number one most important aspect of a job for most people is the salary how much do insurance agents get paid where i live. If you forced us to come up with a solid number we d say 12 is what you can expect on average.
For auto and home insurance renewals agents make a 2 to 15 percent commission most are in the 2 to 5 percent range. An insurance broker makes money off commissions from selling insurance to individuals or businesses and most the commissions they make are between 2 and 8 percent of premiums depending on state regulations. Property and casualty auto home and business insurance agents typically earn anywhere between 7 and 20 commission on each policy sold.
Below are the most recent insurance agent salary reports. The national average salary for an insurance agent in the united states is 79 965 per year with a salary range between 17 000 per year and 188 000 per year. Your insurance agent could also be making money every year you renew the policy.
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