Licensed Insurance Producer Salary

Updated April 6, 2023

Licensed Insurance Producer Salary Estimate

$66,026

$31.74 hourly

Entry level Salary

$44,000 yearly

$44,00010%

$66,026Median

$97,00090%

How much does a Licensed Insurance Producer make?

The average salary for a licensed insurance producer in the United States is $66,026. Licensed insurance producer salaries typically range between $44,000 and $97,000 a year. The average hourly rate for licensed insurance producers is $31.74 per hour.

Location, education, and experience impacts how much a licensed insurance producer can expect to make. Licensed insurance producers make the most in Washington, Wisconsin, Alaska, Massachusetts, and New Hampshire.

Research Summary.

The average salary for a licensed insurance producer is $66,026 in the US.
The average licensed insurance producer salary ranges between $44,000 and $97,000 in the US.
Hourly rates for licensed insurance producers in the US typically range between $21 and $46 an hour.
The average licensed insurance producer salary is $76,456 in Washington, $75,503 in Wisconsin, and $75,469 in Alaska. These are the three highest-paying states for licensed insurance producers in the US.
Berkshire Hathaway has the highest average salary for licensed insurance producers.
Finance is the highest-paying industry for licensed insurance producers in the US.

Highest Paying States For Licensed Insurance Producers

If both location and money are important to you, then you might want to check out moving to Washington, Wisconsin and Alaska, as these three states offer the highest salaries throughout the U.S. for licensed insurance producers. Quite opposite of that list is the lowest paying states, which are West Virginia, Oklahoma, and Louisiana.

State View
County View

Average Salary:

Licensed Insurance Producer average salary by State

Rank	State	Avg. Salary	Hourly Rate	Job Count
1	North Dakota	$69,256	$33.30	185
2	Wisconsin	$75,503	$36.30	678
3	Washington	$76,456	$36.76	1,063
4	Alaska	$75,469	$36.28	139
5	Nebraska	$70,154	$33.73	388
6	Minnesota	$70,937	$34.10	1,167
7	Alabama	$69,466	$33.40	733
8	Oregon	$73,401	$35.29	596
9	South Dakota	$72,162	$34.69	92
10	Rhode Island	$73,629	$35.40	74
11	New Hampshire	$75,036	$36.08	58
12	District of Columbia	$81,199	$39.04	122
13	Michigan	$65,664	$31.57	1,204
14	Massachusetts	$75,261	$36.18	226
15	New York	$73,946	$35.55	612
16	Delaware	$65,208	$31.35	233
17	Indiana	$66,965	$32.19	243
18	Iowa	$61,734	$29.68	644
19	Illinois	$66,080	$31.77	1,558
20	Ohio	$66,577	$32.01	370
21	Connecticut	$70,089	$33.70	115
22	Maine	$65,599	$31.54	66
23	Wyoming	$63,022	$30.30	83
24	Montana	$63,384	$30.47	176
25	Arkansas	$59,325	$28.52	456
26	Pennsylvania	$64,892	$31.20	424
27	Vermont	$64,829	$31.17	73
28	Kansas	$59,952	$28.82	555
29	New Jersey	$70,387	$33.84	197
30	California	$66,463	$31.95	3,769
31	Texas	$61,049	$29.35	3,467
32	South Carolina	$62,882	$30.23	227
33	North Carolina	$60,988	$29.32	1,432
34	Colorado	$63,994	$30.77	795
35	Kentucky	$61,987	$29.80	177
36	Arizona	$60,585	$29.13	832
37	Mississippi	$59,657	$28.68	249
38	Nevada	$58,284	$28.02	307
39	Idaho	$57,440	$27.62	269
40	Missouri	$56,833	$27.32	937
41	Tennessee	$57,183	$27.49	484
42	Utah	$57,745	$27.76	375
43	Maryland	$64,033	$30.79	202
44	Hawaii	$58,203	$27.98	105
45	New Mexico	$54,545	$26.22	315
46	West Virginia	$56,231	$27.03	86
47	Louisiana	$55,710	$26.78	381
48	Virginia	$58,803	$28.27	316
49	Oklahoma	$55,731	$26.79	139
50	Georgia	$54,739	$26.32	486
51	Florida	$52,438	$25.21	715

Highest Paying Cities For Licensed Insurance Producers

Rank	City	Avg. Salary	Hourly Rate	Job Count
1	Washington, DC	$81,271	$39.07
2	Seattle, WA	$77,174	$37.10
3	Milwaukee, WI	$75,662	$36.38
4	Boston, MA	$75,239	$36.17
5	Manchester, NH	$75,077	$36.09
6	New York, NY	$74,110	$35.63
7	Portland, OR	$73,092	$35.14
8	Saint Paul, MN	$71,047	$34.16
9	Richmond, CA	$70,733	$34.01
10	Newark, NJ	$70,381	$33.84
11	Omaha, NE	$70,374	$33.83
12	Bridgeport, CT	$70,224	$33.76
13	Fargo, ND	$69,862	$33.59
14	Richmond, IN	$67,539	$32.47
15	Columbus, OH	$66,591	$32.01	2

Licensed Insurance Producer Salary by Years of Experience

The salary for a licensed insurance producer can vary depending on the years of experience that a person has, from entry level to senior level. An accountant with 0-2 years of experience earns an average salary of $39,577, a mid-career professional with 3-6 years of experience makes $66,026 a year on average, and a senior level accountant with 7-12 years of experience enjoys an average annual salary of $77,114. 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.

Licensed Insurance Producer Salary By Experience Level

Experience Level	Avg. Salary	Hourly Rate
Entry Level	$39,600	$19.03
Mid Level	$67,700	$32.55
Senior Level	$77,100	$37.07

Licensed Insurance Producers Salary Details

Average Licensed Insurance Producer Salary Graph, Trends, and Summary

What is a Licensed Insurance Producer's Salary?

Percentile	Annual Salary	Monthly Salary	Hourly Rate
90th Percentile	$97,000	$8,083	$47
75th Percentile	$80,000	$6,667	$38
Average	$66,026	$5,502	$32
25th Percentile	$53,000	$4,417	$25
10th Percentile	$44,000	$3,667	$21

Highest Paying Types of Licensed Insurance Producers

Job Title	Annual Salary	Monthly Salary	Hourly Rate	Job Openings
Geek Squad Agent	$31,924	$2,660	$15.35	28,603
Agent	$37,864	$3,155	$18.20	184,325
Marketing Agent	$40,384	$3,365	$19.42	112,353
Field Agent	$37,324	$3,110	$17.94	96,067
Lead Agent	$47,344	$3,945	$22.76	56,112
Insurance Sales Representative	$61,386	$5,115	$29.51	201,879

Here are the five companies hiring the most now:

Which Companies Pay Licensed Insurance Producers The Most?

The highest paying companies for licensed insurance producers are Berkshire Hathaway and S & L International according to our most recent salary estimates. In addition, companies like Alliance Co and Crum & Forster report highly competitive wages for licensed insurance producers.

Rank	Company	Average Salary	Hourly Rate	Job Openings
1	Berkshire Hathaway	$104,967	$50.46	4
2	S & L International	$72,675	$34.94
3	Alliance Co	$71,926	$34.58
4	Crum & Forster	$71,823	$34.53
5	Porch	$70,462	$33.88
6	Asurea	$67,774	$32.58	35
7	National Agents Alliance	$67,732	$32.56
8	Healthcare Solutions Team	$67,233	$32.32	3
9	SelectQuote Insurance Services	$65,647	$31.56	12
10	Assurance	$64,297	$30.91	77
11	Simplex Homes	$63,402	$30.48	3
12	Johnson Automotive	$63,051	$30.31
13	Concourse Hotel & Conference	$62,215	$29.91
14	Ibg Holdings LLC	$61,288	$29.47
15	Brown & Brown	$61,188	$29.42	111
16	EverQuote	$58,607	$28.18
17	Randstad North America, Inc.	$57,768	$27.77	23
18	National Indemnity	$51,204	$24.62
19	newton insurance	$50,596	$24.32
20	Concentrix	$49,090	$23.60

How Much Do Licensed Insurance Producers Make In Different Industries?

Licensed insurance producer salaries can vary depending on the industry. In fact, our data shows that the finance, insurance, and agriculture industries tend to offer much higher salaries for licensed insurance producers. For example, licensed insurance producers make a whopping average salary of $60,870 while working in the finance industry. Meanwhile, other people in this field are making $59,678 in the insurance industry and $58,106 in the agriculture industry.

Licensed insurance producers may want to avoid working in the professional industry as it offers the lowest average salary of $54,334.

Highest Paying Industries For Licensed Insurance Producers

Rank	Industry	Average Salary	Hourly Rate
1	Finance	$60,870	$29.26
2	Insurance	$59,678	$28.69
3	Agriculture	$58,106	$27.94
4	Professional	$54,334	$26.12

High Paying Licensed Insurance Producer Jobs

Licensed Insurance Producer Pay Trends

Average Licensed Insurance Producer Salary Over Time

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

Licensed Insurance Producer Salary By Year

Year	Avg. Salary	Hourly Rate	% Change
2023	$66,000	$31.74	+2.4%
2022	$64,500	$30.99	+0.7%
2021	$64,000	$30.78	+1.8%
2020	$62,900	$30.24	-0.6%
2019	$63,300	$30.41	+3.6%

Recently Added Licensed Insurance Producer Salaries

Company	Job	Location	Date Added	Salary
Markel	Insurance Property and Casualty Licensed: Sales/Service Positions Available	Richmond, VA	05/02/2023	$35,479
Kimenker Insurance Agency Inc.-Allstate Agency	Licensed Insurance Sales Producer	Las Vegas, NV	04/24/2023	$52,565
Markel	Insurance Property and Casualty Licensed: Sales/Service Positions Available	Nora, NE	04/22/2023	$35,479
Burley Insurance and Financial Services, Inc.	Licensed Insurance Producer	Bowie, MD	04/15/2023	$50,000
Tanya Rodriques-Farmers Insurance Agency	Experianced Property and Casualty License Producer	Longwood, FL	04/13/2023	$30,000
Colorado Farm Bureau	Licensed Insurance Producer	Colorado Springs, CO	04/12/2023	$80,000
Robin Byrd Agency	Licensed Insurance Sales	West Linn, OR	04/11/2023	$50,000
Farmers Ins-Jose C Falen LLC	Licensed Insurance Producer	Elmwood Park, NJ	04/11/2023	$25,000
Creekside Risk Management	Commercial Insurance Professional	Houston, TX	04/08/2023	$50,000
Creekside Risk Management	Commercial Insurance Professional	Houston, TX	04/08/2023	$50,000

Licensed Insurance Producer Salaries FAQs

What State Pays Licensed Insurance Producers The Most?

Washington pays Licensed Insurance Producers the most in the United States, with an average salary of $81,199 per year, or $39.04 per hour.

How Do I Know If I'm Being Paid Fairly As A Licensed Insurance Producer?

You know if you are being paid fairly as a Licensed Insurance Producer if your pay is close to the average pay for the state you live in. For example, if you live in Washington you should be paid close to $76,456 per year.

Have more questions? See all answers to common sales questions.

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Updated April 6, 2023