Average Late-Career Insurance Underwriter Salary

$80,083
Avg. Base Salary (USD)
10%
$54k
MEDIAN
$80k
90%
$127k

The average salary for an Insurance Underwriter is $80,083 in 2024

Base Salary
$54k - $127k
Bonus
$2k - $26k
Profit Sharing
$1k - $31k
Total Pay
$47k - $145k
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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.
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FAQs About Insurance Underwriters

What is the highest pay for Insurance Underwriters?

Our data indicates that the highest pay for an Insurance Underwriter is $127k / year

What is the lowest pay for Insurance Underwriters?

Our data indicates that the lowest pay for an Insurance Underwriter is $54k / 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.