Average Insurance Underwriter Salary
$111,000 yearly
$53.45 hourly
Updated August 18, 2021
$77,000
10 %
$111,000
Median
$159,000
90 %
What Is The Average Insurance Underwriter Salary?
The average insurance underwriter salary is $111,176 per year, or $53.45 per hour, in the United States. People on the lower end of that spectrum, the bottom 10% to be exact, make roughly $77,000 a year, while the top 10% makes $159,000. As most things go, location can be critical. New Jersey, Maryland, Pennsylvania, New York, and Illinois provide the highest insurance underwriter salaries.
PercentileascdescAnnual SalaryascdescMonthly SalaryascdescHourly Rateascdesc
90th Percentile
$159,000
$13,250
$76
75th Percentile
$134,000
$11,167
$64
Average
$111,176
$9,265
$53
25th Percentile
$91,000
$7,583
$44
10th Percentile
$77,000
$6,417
$37

Average Insurance Underwriter Salary By State

The darker areas on the map show where insurance underwriters earn the highest salaries across all 50 states.

Average Salary

Insurance Underwriter average salary by State

StateascdescAvg. salaryascdescHourly rateascdesc
Alabama
$66,380
$31.91
Alaska
$68,511
$32.94
Arizona
$62,676
$30.13
Arkansas
$50,434
$24.25
California
$65,582
$31.53
Colorado
$51,841
$24.92
Connecticut
$85,136
$40.93
Delaware
$86,767
$41.71
District of Columbia
$89,106
$42.84
Florida
$76,913
$36.98
Georgia
$80,218
$38.57
Hawaii
$73,362
$35.27
Idaho
$50,769
$24.41
Illinois
$87,077
$41.86
Indiana
$66,738
$32.09
Iowa
$59,129
$28.43
Kansas
$71,422
$34.34
Kentucky
$67,044
$32.23
Louisiana
$58,882
$28.31
Maine
$71,337
$34.30
Maryland
$91,668
$44.07
Massachusetts
$79,250
$38.10
Michigan
$83,928
$40.35
Minnesota
$59,574
$28.64
Mississippi
$50,919
$24.48
Missouri
$48,163
$23.16
Montana
$50,147
$24.11
Nebraska
$45,780
$22.01
Nevada
$61,131
$29.39
New Hampshire
$77,743
$37.38
New Jersey
$95,726
$46.02
New Mexico
$50,592
$24.32
New York
$88,619
$42.61
North Carolina
$76,202
$36.64
North Dakota
$69,721
$33.52
Ohio
$75,423
$36.26
Oklahoma
$70,746
$34.01
Oregon
$62,392
$30.00
Pennsylvania
$90,194
$43.36
Rhode Island
$84,042
$40.40
South Carolina
$70,729
$34.00
South Dakota
$56,814
$27.31
Tennessee
$72,527
$34.87
Texas
$51,569
$24.79
Utah
$42,750
$20.55
Vermont
$70,701
$33.99
Virginia
$78,816
$37.89
Washington
$61,194
$29.42
West Virginia
$76,877
$36.96
Wisconsin
$65,677
$31.58
Wyoming
$46,787
$22.49

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Highest Paying Cities For Insurance Underwriter

0 selections
CityascdescAvg. salaryascdescHourly rateascdesc
Fort Lee, NJ
$95,603
$45.96
Philadelphia, PA
$92,092
$44.27
Bethesda, MD
$91,359
$43.92
New York, NY
$89,734
$43.14
Chicago, IL
$88,002
$42.31
Hartford, CT
$83,867
$40.32

The largest raises come from changing jobs.

See what's out there.

Average Insurance Underwriter Salary Over Time

Compare salaries for individual cities or states with the national average.

Location
    YearascdescAvg. salaryascdescHourly rateascdesc% Changeascdesc
    2021
    $111,000
    $53.45
    -0.5%
    2020
    $112,000
    $53.74
    +3.0%
    2019
    $108,000
    $52.14
    +3.9%
    2018
    $104,000
    $50.11
    +1.3%
    2017
    $103,000
    $49.47
    +0.7%

    Average JOB Salary by Field

    Closer

    Avg. salary: $26,013

    The duties of a closer depend on one's line of work or industry of employment. Typically, their responsibilities revolve around liaising with clients to ensure that they understand and adhere to all terms of the agreement, completing all requirements and necessary documents, and maintaining records of all transactions. A closer must also monitor the regular payments of clients to ensure their compliance with the agreement, answer any inquiries, perform follow-up calls, and address any issues or concerns, resolving them promptly and efficiently.
    7,605 Closer Jobs
    Credit Officer

    Avg. salary: $118,909

    A credit officer is responsible for evaluating financial documents and account statements to determine the eligibility of an applicant for a loan option. Credit officers communicate with the applicant to discuss the loan process, explain the terms of service, and provide them alternative options that would fit their payment ability and loan needs. They create financial reports and recommend the qualified applicant to the manager for approval. A credit officer should have excellent communication and analytical skills, ensuring that the loan policies adhere to the federal and state regulations.
    60,217 Credit Officer Jobs
    Loan Administrator

    Avg. salary: $40,845

    A Loan Administrator is a person that takes care of all the documentation part of the loan process. Loans require a lot of documents and requirements, and a loan administrator is a person that helps the client accomplish all these requirements. It is also their job to help clients resolve issues and problems during the loan process. A Loan Administrator is a crucial and hectic job. The one qualified for this position must be good at handling pressure, be good at resolving issues, handle complaints, and communicate with people.
    53,121 Loan Administrator Jobs
    Commercial Loan Officer

    Avg. salary: $60,150

    Commercial loan officers are financial professionals who are responsible for assessing and processing business loan applications at financial institutions. These loan officers must advise clients about their suitable loan and credit options while consulting with managers on credit policies, credit lines, and procedures. They are required to obtain and assess the financial information of applicants that includes their financial statements and credit histories. Commercial loan officers must also collaborate with other financial institutions to set up loan packages for extensive loans.
    76,673 Commercial Loan Officer Jobs
    Mortgage Banker

    Avg. salary: $91,346

    A Mortgage Banker is specialized in offering financing to buy homes or refinance previous mortgages. They work as part of a banks loan department.
    29,552 Mortgage Banker Jobs
    Mortgage Consultant

    Avg. salary: $40,263

    A mortgage consultant is a professional who helps customers and businesses identify the best option for mortgage deals based on their financial resources. To maintain an excellent relationship with clients, mortgage consultants must possess a broad knowledge of the company's products to answer all the clients' queries and concerns. They help clients gather and analyze documents that are required for loan approval and create accurate mortgage information. They also develop relationships with banks and real estate agents to help promote bank mortgages for clients.
    22,887 Mortgage Consultant Jobs

    Insurance Underwriter Salaries By Years Of Experience

    The salary for an insurance underwriter can vary depending on the years of experience that a person has, from entry level to senior level. Data on how experience level affects total compensation is provided by the Bureau of Labor Statistics (BLS) as part of their National Compensation Survey, which is based on factors such as knowledge, complexity, contacts, and environment.

    Which Companies Pay Insurance Underwriters The Most?

    If you want to get paid the most as an insurance underwriter, being employed by a company such as CRC Insurance Services or National Union Fire Insurance Company of Pittsburgh, Pa. would be a smart choice, as they are the highest paying companies in this field. Additionally, companies like Swiss Reinsurance America and Swiss Re also report highly competitive salaries for insurance underwriters.
    Company

    Recently Added Insurance Underwriter Salaries

    Location
    CompanyascdescJobascdescLocationascdescDate AddedascdescSalaryascdesc
    Input 1, LLC
    Insurance Loan Underwriter
    Insurance Loan Underwriter
    Los Angeles, CA
    08/14/2021
    $39,653
    08/14/2021
    Allsearch Recruiting
    Regional Executive Underwriter-P&C Insurance Firm-Base To 90K
    Regional Executive Underwriter-P&C Insurance Firm-Base To 90K
    Roseville, CA
    08/10/2021
    $50,000
    08/10/2021
    Randstad Us
    Insurance Underwriter Coordinator
    Insurance Underwriter Coordinator
    Saint Paul, MN
    07/16/2021
    $39,653
    07/16/2021
    Input 1, LLC
    Insurance Loan Underwriter
    Insurance Loan Underwriter
    Los Angeles, CA
    07/14/2021
    $39,653
    07/14/2021
    Input 1, LLC
    Insurance Loan Underwriter
    Insurance Loan Underwriter
    Dallas, TX
    07/14/2021
    $39,653
    07/14/2021
    Wells Fargo
    Collateral Underwriter 3-Insurance Review Team
    Collateral Underwriter 3-Insurance Review Team
    Minneapolis, MN
    07/11/2021
    $51,100
    07/11/2021
    Wells Fargo
    Collateral Underwriter 3-Insurance Review Team
    Collateral Underwriter 3-Insurance Review Team
    Charlotte, NC
    07/11/2021
    $51,100
    07/11/2021
    Wells Fargo
    Collateral Underwriter 3-Insurance Review Team
    Collateral Underwriter 3-Insurance Review Team
    Chandler, AZ
    07/11/2021
    $51,100
    07/11/2021
    Wells Fargo
    Collateral Underwriter 2-Insurance Review Team
    Collateral Underwriter 2-Insurance Review Team
    Chandler, AZ
    05/26/2021
    $41,800
    05/26/2021
    Wells Fargo
    Collateral Underwriter 2-Insurance Review Team
    Collateral Underwriter 2-Insurance Review Team
    Charlotte, NC
    05/26/2021
    $41,800
    05/26/2021

    Average Insurance Underwriter Salary by Demographic

    Insurance Underwriter Gender Pay Gap

    male-income
    Male Income
    $80,693
    female-income
    Female Income
    $70,346
    Median Insurance Underwriter Income by Race
    Hispanic or latino insurance underwriters have the highest average salary compared to other ethnicities. Black or african american insurance underwriters have the lowest average salary at $68,850.
    $81,000
    $78,000
    $75,000
    $72,000
    $69,000
    $66,000
    Unknown
    White
    Black or African American
    Asian
    Hispanic or Latino
    Ethnicityascdesc
    Salaryascdesc
    Unknown$74,456
    White$77,016
    Black or African American$68,850
    Asian$78,189
    Hispanic or Latino$79,084
    Average Insurance Underwriter Salary by Education Level
    Insurance underwriters with a Masters degree earn more than those without, at $78,411 annually. With a Bachelors degree, insurance underwriters earn a median annual income of $70,346 compared to $55,664 for insurance underwriters with an High School Diploma degree.
    $83,000
    $77,000
    $71,000
    $65,000
    $59,000
    $53,000
    $47,000
    High School Diploma or Less
    Master's Degree
    Bachelor's Degree
    Some College/ Associate Degree
    Educationascdesc
    Salaryascdesc
    High School Diploma or Less$55,664
    Master's Degree$78,411
    Bachelor's Degree$70,346
    Some College/ Associate Degree$52,154