Independent Insurance Agency Owner Salary

There are over 13,143 independent insurance agent careers waiting for you to apply! Salary information comes from 408 data points collected directly from employees, users, and past and present job advertisements on indeed in the past 36 months. In the real world, “insurance agent” gets used as an umbrella term describing any licensed person in the agency, but the more specific definition describes the agent as the “principal” of the agency.

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The average salary for a agency owner is $94,505 per year in united states.

Independent insurance agency owner salary. How much does an insurance agent make in the united states? It doesn’t take a lot of revenue, but f. State farm insurance agency owners earn $250,000 annually, or $120 per hour, which is 114% higher than the national average for all agency owners at $68,000 annually and 116% higher than the national salary average for all working americans.

If you really want to be an agency owner, go independent. New independent insurance agent careers are added daily on simplyhired.com. Importantly, all of these jobs are paid between $18,234 (22.3%) and $48,288 (50.0%) more than the average insurance agency owner salary of $72,499.

So going independent will likely require a few years of experience in the industry, starting by working with an existing independent agency or buying one. But it’s not the starting capital that is the problem, it’s the staff. Producers/sales reported average increases in salary of 5.1 percent in.

For the full 2013 agency salary survey report, see the feb. However, independent agents work solely on commission. How much do insurance agents make in 2020?

The commissions for health, auto, and homeowners insurance range from about 5 percent of the premium to between 15 and 20 percent. 4360 wabash ave, springfield, illinois 62711. See salaries, compare reviews, easily apply, and get hired.

Independent insurance agency agents who work for an independent insurance agency selling products from selected companies typically earn a small salary and commissions, or a salary plus a bonus if the agency meets its goals. My wife and i are licensed and while she is working for a large national agency, i want to start my own group and work up. If you research average salaries for allstate agency owners online, then you’ll find a wide range of figures to think about.