The average salary for an Insurance Producer is $36,462.
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What Do Insurance Producers Do?
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 excelle…Read more
Insurance Producer Tasks
- Sell insurance policies to businesses or individuals.
- Utilize referrals, phone calls, mailings, and other forms of advertising to generate new customers.
- 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.
Job Satisfaction for Insurance Producer
Popular Employer Salaries for Insurance Producer
The top respondents for the job title Insurance Producer are from the companies State Farm Insurance Company, Allstate and Farmers Insurance Group. Reported salaries are highest at Arthur J. Gallagher & Company where the average pay is $49,132. Other companies that offer high salaries for this role include Allstate Insurance Company and Farmers Insurance Group, earning around $33,832 and $30,752, respectively. Farm Bureau Insurance of Michigan pays the lowest at around $26,500. State Farm Insurance Company and American Family Insurance Group also pay on the lower end of the scale, paying $29,654 and $30,000, respectively.
Insurance Producer Job Listings
What Are Popular Skills for Insurance Producers?
Skills in Insurance and Customer Relationship Management (CRM) are correlated to pay that is above average. Skills that pay less than market rate include Customer Relations, Customer Service and Sales.
What is the Pay by Experience Level for Insurance Producers?
An entry-level Insurance Producer with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $29,255 based on 89 salaries. An early career Insurance Producer with 1-4 years of experience earns an average total compensation of $32,376 based on 710 salaries. A mid-career Insurance Producer with 5-9 years of experience earns an average total compensation of $37,943 based on 288 salaries. An experienced Insurance Producer with 10-19 years of experience earns an average total compensation of $41,475 based on 284 salaries. In their late career (20 years and higher), employees earn an average total compensation of $50,214.
Pay Difference by Location
Employees with Insurance Producer in their job title in Philadelphia, Pennsylvania earn an average of 42.6% more than the national average. These job titles also find higher than average salaries in New York, New York (37.1% more) and Chicago, Illinois (37.0% more). The lowest salaries can be found in Las Vegas, Nevada (3.7% less) and Phoenix, Arizona (0.3% less).
Years of Experience
This data is based on 1,527 survey responses.