â–¼16%
$64,274
Avg. Base Salary (USD)
/ year
Avg. Base Salary (USD)
10%
$45k
MEDIAN
$64k
90%
$93k
The average salary for an Insurance Underwriter is $64,274 in 2024
Base Salary
$45k - $93k
Bonus
$1k - $14k
Profit Sharing
$357 - $12k
Commission
$10k - $20k
Total Pay
$43k - $99k
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What is the Pay by Experience Level for Insurance Underwriters?
What Do Insurance Underwriters Do?
Insurance Underwriter Tasks
- Analyze new and renewal business, data, claim history, loss experience, and outcome of liability decisions.
- Underwrite, submit, approve or pend coverage amounts and premiums, and present decisions to management.
- Monitor existing policies for compliance with company guidelines.
- Manage underwriting territory and select new business based on analysis of their profitability.
Find your market worth – how it works:
How do Insurance Underwriters Rate Their Jobs?
Based on 122 responses, the job of Insurance Underwriter has received a job satisfaction rating of 3.64 out of 5. On average, Insurance Underwriters are highly satisfied with their job.
Common Health Benefits for a Insurance Underwriter
Medical
84%
Dental
77%
Vision
71%
None
15%
Gender Breakdown for Insurance Underwriters
Female
62.6%
Male
37.1%
Prefer to self-define
0.2%
This data is based on 420 survey responses. Learn more about the gender pay gap.
FAQs About Insurance Underwriters
What is the highest pay for Insurance Underwriters?
Our data indicates that the highest pay for an Insurance Underwriter is $93k / year
What is the lowest pay for Insurance Underwriters?
Our data indicates that the lowest pay for an Insurance Underwriter is $45k / year
How can Insurance Underwriters increase their salary?
Increasing your pay as an Insurance Underwriter is possible in different ways. Change of employer: Consider a career move to a new employer that is willing to pay higher for your skills. Level of Education: Gaining advanced degrees may allow this role to increase their income potential and qualify for promotions. Managing Experience: If you are an Insurance Underwriter that oversees more junior Insurance Underwriters, this experience can increase the likelihood to earn more.