Insurance Producer Salary

Salaries for Insurance Producers in the United States average out at around $35K annually, but Cleveland employers pay the most, offering approximately $63K on average. Insurance Producers can also look forward to large paychecks in cities like Houston (+44 percent), Boston (+37 percent), Seattle (+36 percent), and Chicago (+26 percent). Respondents to the PayScale salary survey provided the data for this report.
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$21,804 - $61,185
(Median)
$22K
$35K
$61K
MEDIAN: $35,470
10%
50%
90%

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$9.88 - $18.37
(Median)
$9
$13
$18
MEDIAN: $13.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$21K$42K$63K
Salary
$21,804 - $61,185  
   
Bonus
$0.00 - $11,608  
Profit Sharing
$120.80 - $7,152  
Commission
$0.00 - $22,980  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$21,775 - $62,856  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 466
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$11$22$33
Hourly Rate
$9.88 - $18.37  
   
Overtime
$0.00 - $28.78  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$22K$44K$66K
Bonus
$0.00 - $11,608  
   
Commission
$0.00 - $22,980  
Profit Sharing
$120.80 - $7,152  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$21,775 - $62,856  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 280

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Job Description for Insurance Producer

Insurance producers are licensed and trained in sales and customer service, and they are responsible for selling insurance and insurance-related products to prospective clients. Additionally, insurance producers must ensure that the policies they offer comply with all insurance regulations, maintain a knowledge of all commercially available products and monitor all clients' insurance policies to be sure that the highest level of service is provided. Insurance producers must also maintain excellent relationships with current clients, which may help secure new client referrals; this includes resolving any client issues and claims quickly and efficiently.

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Insurance Producer Tasks

  • Process the paperwork to enroll customers in policies and calculate premiums.
  • Explain insurance policies to customers and help them customize policies to fit their needs.
  • Sell insurance policies to businesses or individuals.
  • Utilize referrals, phone calls, mailings, and other forms of advertising to generate new customers.

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Popular Employer Salaries for Insurance Producer


The biggest paychecks can be found at Allstate — the median salary there is $35K; however, employees are subject to a wide range in pay, with the lowest salaries sitting near $19K and highest ones in the neighborhood of $52K.

Farmers Insurance Group offers the lowest pay, with a median salary of just $24K. The pay scale doesn't vary widely, either; compensation ranges from $20K to $44K.

Popular Skills for Insurance Producer


Job skills reported by Insurance Producers are limited. Those who have experience with Sales, Insurance, and Customer Service can expect to be compensated well for these skills. Skills that seem to negatively impact pay include Customer Service. For most people, competency in Customer Service indicates knowledge of Insurance.

Pay by Experience Level for Insurance Producer

Median of all compensation (including tips, bonus, and overtime) by years of experience.


For Insurance Producers, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. Salaries for the relatively untried average out to around $32K, but survey participants with five to 10 years of experience earn a significantly higher median of $39K. Insurance Producers who work for 10 to 20 years in their occupation tend to earn about $41K. Veterans who have worked for more than two decades do tend to make the most in the end; the median pay for this group is $45K.

Pay Difference by Location

Related Job Salaries

United States (change)

Experience Affects Insurance Producer Salaries




National Average
$35,000


Skills That Affect Insurance Producer Salaries

Sales
up arrow 2%

National Average
$35,000

Insurance
up arrow 1%

Customer Service
up arrow 3%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 156 votes.

Gender

Female
70 %
Male
30 %

Years of Experience

Less than 1 year
4%
1-4 years
47%
5-9 years
23%
10-19 years
19%
20 years or more
7%

Common Health Benefits

medical benefits Medical: 39% dental benefits Dental: 27%
vision benefits Vision: 20% employee benefits None: 59%