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The differences between personal lines underwriters and commercial underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a personal lines underwriter has an average salary of $69,706, which is higher than the $59,051 average annual salary of a commercial underwriter.
The top three skills for a personal lines underwriter include insurance policies, underwriting decisions and loss ratio. The most important skills for a commercial underwriter are real estate, customer service, and financial analysis.
| Personal Lines Underwriter | Commercial Underwriter | |
| Yearly salary | $69,706 | $59,051 |
| Hourly rate | $33.51 | $28.39 |
| Growth rate | -4% | -4% |
| Number of jobs | 19,754 | 31,908 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 75% |
| Average age | 44 | 44 |
| Years of experience | - | - |
A personal lines underwriter works at insurance companies to ensure that clients are eligible to receive insurance services. Their responsibilities include gathering and analyzing insurance applications, verifying client information, studying financial histories and occupational risks, and conducting interviews. They may also perform clerical support tasks such as preparing and processing documents, handling calls and correspondence, and updating databases. Moreover, a personal lines underwriter typically works in a team setting, which requires an active communication line for a smooth and efficient workflow.
A commercial underwriter is responsible for processing commercial loan applications, evaluating payment agreements and terms of service, validating customers' information, and requesting additional documents as needed. Commercial underwriters analyze the credit qualifications of an applicant, including financial history, account statements, and outstanding loan applications, if any. They identify potential credit risks for the loan request and advice the applicants for alternative loan options according to their needs and qualifications. A commercial underwriter responds to the applicants' inquiries and concerns regarding their loan applications and provides timely decisions for their requests.
Personal lines underwriters and commercial underwriters have different pay scales, as shown below.
| Personal Lines Underwriter | Commercial Underwriter | |
| Average salary | $69,706 | $59,051 |
| Salary range | Between $43,000 And $111,000 | Between $41,000 And $84,000 |
| Highest paying City | New York, NY | Olympia, WA |
| Highest paying state | New York | Washington |
| Best paying company | Capital Group | J.P. Morgan |
| Best paying industry | Insurance | Finance |
There are a few differences between a personal lines underwriter and a commercial underwriter in terms of educational background:
| Personal Lines Underwriter | Commercial Underwriter | |
| Most common degree | Bachelor's Degree, 64% | Bachelor's Degree, 75% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between personal lines underwriters' and commercial underwriters' demographics:
| Personal Lines Underwriter | Commercial Underwriter | |
| Average age | 44 | 44 |
| Gender ratio | Male, 43.1% Female, 56.9% | Male, 48.7% Female, 51.3% |
| Race ratio | Black or African American, 9.2% Unknown, 2.5% Hispanic or Latino, 9.8% Asian, 5.7% White, 72.5% American Indian and Alaska Native, 0.4% | Black or African American, 9.9% Unknown, 2.5% Hispanic or Latino, 9.3% Asian, 5.5% White, 72.4% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 9% |