What is the average salary for an insurance agent?

How Much Does an Insurance Sales Agent Make? According to the BLS, the median annual salary for insurance agents was $49,990 in 2016. The best-paid 10 percent made more than $128,070, while the lowest-paid 10 percent made less than $27,430.

Similarly, how do insurance agents make their money?

Auto & Home Insurance Commissions. Insurance agents who sell auto and home insurance typically get paid based on the written premium of the policy. Typically, the percentage earned as commission ranges between 5-20%. When a policy gets renewed, the agent earns commission again, although sometimes at a lower rate.

How much does a car insurance agent make a year?

According to U.S. News Money, the average yearly salary for insurance agents was $48,210. The lowest paid agents earned $26,030 per year, and the highest paid agents earned more than $100,0000 per year. Location also factors into what an insurance agent earns.

How much does an insurance agent make an hour?

Insurance Agent Hourly Wages. What is the average hourly pay rate for Insurance Agent? How much does a Insurance Agent make an hour? The median hourly wage for a Insurance Agent is $23, as of May 30, 2018, with a range usually between $21-$26, however this can vary widely depending on a variety of factors.

How much do entry level insurance agents make?

Entry-Level Insurance Sales Agent Salary. An Entry-Level Insurance Sales Agent earns an average salary of $32,829 per year. A skill in Field Sales is associated with high pay for this job.

How many hours a week does an insurance agent work?

Some sales agents meet with clients during business hours and then spend evenings doing paperwork and preparing presentations to prospective clients. Most agents work full time, and about 1 in 5 work more than 40 hours per week.

How much does an Allstate agent make per year?

The typical Allstate Insurance Agent salary is $35,964. Insurance Agent salaries at Allstate can range from $20,100 – $127,000. This estimate is based upon 62 Allstate Insurance Agent salary report(s) provided by employees or estimated based upon statistical methods.

How much does a life insurance agent make an hour?

Insurance Agent Hourly Wages. What is the average hourly pay rate for Insurance Agent? How much does a Insurance Agent make an hour? The median hourly wage for a Insurance Agent is $23, as of May 30, 2018, with a range usually between $21-$26, however this can vary widely depending on a variety of factors.

What do you have to do to become an insurance agent?

Basic Requirements. You need a high school diploma or equivalent and an insurance license from your state to work as an insurance agent. The licensing requirements vary between states but they typically require that you take an insurance course plus pass an exam given by your state.

What is the average salary for an insurance underwriter?

An Insurance Underwriter receives an average salary of around 48000 – 72000 depending on seniority. Insurance Underwriters earn a salary of Sixty Five Thousand Three Hundred dollars on a yearly basis. Insurance Underwriters can expect the most salary in Connecticut, where they earn job pay of close to $76700.

What is the job description for an insurance agent?

INSURANCE JOB DESCRIPTION INDEX. Sell life, property, casualty, health, automotive, or other types of insurance. May refer clients to independent brokers, work as independent broker, or be employed by an insurance company.

How much does a life insurance agent make a year?

Sellers typically receive more than 5% commissions each time they sell one. That doesn’t mean most life insurance reps make massive incomes. According to the Bureau of Labor Statistics, the 2012 median salary for insurance agents was a modest $48,150 (the average salary was $63,400).

How much does a car insurance agent make a year?

According to U.S. News Money, the average yearly salary for insurance agents was $48,210. The lowest paid agents earned $26,030 per year, and the highest paid agents earned more than $100,0000 per year. Location also factors into what an insurance agent earns.

How much do insurance agents get paid?

The most recent government data regarding the average income of American insurance agents was compiled in 2012. According to that data from the Bureau of Labor Statistics: The median annual wage for insurance agents was $48,150. The highest paid 10% of insurance agents earned more than $116,940 annually.

How does it work to be an insurance agent?

While the agent collects commissions, they do not collect a salary from the companies they represent. On average, independent agents work with thirteen property and casualty and six life and health insurance companies on a regular basis. Independent agents own and control their accounts, policy records, and renewals.

How much do auto insurance agents get paid?

Most agency commissions are 8-16% of your insurance payment. So, if your car insurance cost you $1000 for 12 months’ worth of coverage, the agency that sold you that insurance would receive $80 to $160 as compensation for the sale.

How much money does a property and casualty insurance agent make?

Property and Casualty (auto, home and business) insurance agents typically earn anywhere between 7% and 20% commission on each policy sold. If you forced us to come up with a solid number, we’d say 12% is what you can expect on average. Example: $1,000 auto insurance policy at 12% commission would net you $120.00.

How do you become a car insurance agent?

Part 2 Gaining Your License

  • Figure out the licensing requirements in your state. Nearly every state requires that auto insurance agents be licensed.
  • Study for your licensing exam. Once you’ve figure out your state’s requirements, spend a lot of time studying for the exam.
  • Learn about your state’s exam.
  • Take the exam.
  • How much does an insurance adjuster make a year?

    Entry level salaries for staff adjusters average about 40k. But an independent adjuster can make a lot more than $100,000 in a good year, especially handling catastrophe claims. But an independent adjuster can make a lot more than $100,000 in a good year, especially handling catastrophe claims.

    How much money can you make as an insurance broker?

    Because high salaries — as seen in securities, commodities and employee benefits — can skew this number, median wage is often a better indicator of base salary. Half of all insurance brokers earned $47,450 a year or less — a $15,000 difference from the national average.

    How do I become a licensed insurance agent in Texas?

    How to Get a Texas Insurance License

  • Complete a Pre-licensing Course. If you would like to sell insurance in Texas, you must pass a licensing exam.
  • Pass a Licensing Exam. Making Exam Reservations.
  • Get Fingerprinted. Fingerprinting is available at the testing center.
  • Apply for a License.
  • How much can you make as an insurance underwriter?

    The median annual wage for insurance underwriters was $69,760 in May 2017. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $41,800, and the highest 10 percent earned more than $123,660.

    How much does the average insurance agent make in Texas?

    Salary Range. According to the BLS, 321,780 people worked as insurance agents nationwide as of May 2011. The average annual wage for these agents was $62,970, or $30.28 an hour. The top 25 percent could make $72,490 or more, with the top 10 percent reaching six-figure salaries of $115,300 or higher.