Car Insurance Agent Commission
Auto insurance agents earn between 15 and 20 percent per car insurance policy according to the wall street journal.
Car insurance agent commission - Commissions can range as low as 8 percent says bissett while 15 percent would be on the very high end in contrast life insurance agents make most of their money in the first year of a new policy. Well now you know. For example if your annual policy costs you 700 per year your insurance agent earns between 105 and 140 for your policy.
Home and car insurance agents typically receive a 10 to 15 percent commission on the first year s premium. This means the agent earns a percentage of the premium paid by the policyholder. Questions to ask your insurance agent including how much they stand to gain from you for the record my policies are handled by my 3 agents who focus on selling me the plans i need instead of pushing me to stuff like ilps or wl.
Such front loaded commissions can. The car insurance agent commission rate however is higher for two wheeler premiums so that the agent can earn decent commissions by selling two wheeler policies too. The insurance regulator had allowed insurance companies to pay up to 22 5 of total premium as the commission in 2 wheelers and 19 5 of the total premium for other vehicles such as cars and suvs to misps.
Calculating these premiums is necessary if the agent wants to know how much he will be paid. Insurance agent compensation is normally tied to commissions payable on policy premiums. Age of the vehicle which is being insured the age of the vehicle determines the insured value of the vehicle.
So how much commissions does your insurance agent earn from selling you that policy. The insured value affects the premiums and thus the vehicle.
