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Insurance underwriter salary
Average insurance underwriter salary
$64,163
Understanding Insurance Underwriter Salaries
As of October 2025, the average salary for an Insurance Underwriter is around $64,163 per year. This figure can fluctuate based on various factors, including geographic location, years of experience, and specific industry focus. For instance, underwriters in metropolitan areas or highly specialized sectors often earn higher wages.
Experience plays a crucial role in determining salary. Entry-level positions typically start lower, but with increased experience, an underwriter may see their salary rise significantly. Reports indicate that those with over ten years in the field can earn upwards of $80,000.
Furthermore, certain states offer more lucrative opportunities. For example, states like New York and California often present higher salary ranges for underwriters due to their cost of living and demand for insurance services.
In addition to base salaries, many insurance underwriters may also receive performance bonuses and commission opportunities, further enhancing their overall compensation. This multifaceted understanding of salary dynamics helps current and prospective underwriters navigate their career paths and make informed decisions.
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Where can an Insurance Underwriter earn more?
Insurance underwriter salaries by experience level
| Experience level | Avg. salary | Hourly rate |
|---|---|---|
| Entry-level insurance underwriter | $37,000 | $17.79 |
| Mid-level insurance underwriter | $62,600 | $30.08 |
| Senior-level insurance underwriter | $109,000 | $52.39 |
Insurance underwriter salary estimates from across the web
Average insurance underwriter salary by state
The highest-paying states for insurance underwriters are Connecticut, Massachusetts, and Pennsylvania. The lowest average insurance underwriter salary states are Texas, Alabama, and Louisiana.
- State view
- County view
Highest paying states for insurance underwriters
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Delaware | $78,591 | $37.78 |
| 2 | Pennsylvania | $89,480 | $43.02 |
| 3 | Illinois | $80,479 | $38.69 |
| 4 | Connecticut | $91,270 | $43.88 |
| 5 | Ohio | $77,859 | $37.43 |
| 6 | Maine | $74,787 | $35.96 |
| 7 | North Dakota | $70,357 | $33.83 |
| 8 | Massachusetts | $90,818 | $43.66 |
| 9 | Vermont | $71,408 | $34.33 |
| 10 | New Jersey | $87,258 | $41.95 |
| 11 | New York | $87,021 | $41.84 |
| 12 | Rhode Island | $72,754 | $34.98 |
| 13 | New Hampshire | $83,529 | $40.16 |
| 14 | South Dakota | $63,759 | $30.65 |
| 15 | Kansas | $66,961 | $32.19 |
| 16 | Colorado | $68,189 | $32.78 |
| 17 | Indiana | $72,324 | $34.77 |
| 18 | Michigan | $69,795 | $33.56 |
| 19 | North Carolina | $70,530 | $33.91 |
| 20 | District of Columbia | $83,472 | $40.13 |
| 21 | Wisconsin | $71,660 | $34.45 |
| 22 | Iowa | $61,497 | $29.57 |
| 23 | Washington | $70,854 | $34.06 |
| 24 | Arizona | $58,248 | $28.00 |
| 25 | Minnesota | $66,660 | $32.05 |
| 26 | West Virginia | $61,419 | $29.53 |
| 27 | Montana | $59,526 | $28.62 |
| 28 | Wyoming | $55,329 | $26.60 |
| 29 | Georgia | $62,766 | $30.18 |
| 30 | Nevada | $57,214 | $27.51 |
| 31 | Kentucky | $59,835 | $28.77 |
| 32 | Oregon | $60,508 | $29.09 |
| 33 | Tennessee | $56,141 | $26.99 |
| 34 | Idaho | $54,396 | $26.15 |
| 35 | Missouri | $61,223 | $29.43 |
| 36 | Nebraska | $57,589 | $27.69 |
| 37 | Florida | $56,090 | $26.97 |
| 38 | Maryland | $64,104 | $30.82 |
| 39 | Virginia | $63,159 | $30.36 |
| 40 | California | $59,519 | $28.61 |
| 41 | Utah | $53,185 | $25.57 |
| 42 | Oklahoma | $55,608 | $26.73 |
| 43 | Alaska | $46,230 | $22.23 |
| 44 | Mississippi | $46,331 | $22.27 |
| 45 | Louisiana | $46,684 | $22.44 |
| 46 | New Mexico | $53,586 | $25.76 |
| 47 | Texas | $48,638 | $23.38 |
| 48 | South Carolina | $51,840 | $24.92 |
| 49 | Hawaii | $40,055 | $19.26 |
| 50 | Alabama | $47,339 | $22.76 |
| 51 | Arkansas | $49,427 | $23.76 |
Highest paying cities for insurance underwriters
The highest-paying cities for insurance underwriters are Hartford, CT, Braintree Town, MA, and Philadelphia, PA.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Hartford, CT | $91,598 | $44.04 |
| 2 | Braintree Town, MA | $90,903 | $43.70 |
| 3 | Philadelphia, PA | $90,085 | $43.31 |
| 4 | Fort Lee, NJ | $87,779 | $42.20 |
| 5 | New York, NY | $87,139 | $41.89 |
| 6 | Chicago, IL | $80,895 | $38.89 |
| 7 | Columbus, OH | $76,839 | $36.94 |
| 8 | Seattle, WA | $71,194 | $34.23 |
| 9 | Detroit, MI | $70,114 | $33.71 |
| 10 | Charlotte, NC | $68,328 | $32.85 |
| 11 | Centennial, CO | $68,137 | $32.76 |
| 12 | Saint Paul, MN | $66,770 | $32.10 |
| 13 | San Francisco, CA | $65,682 | $31.58 |
| 14 | Annandale, VA | $64,824 | $31.17 |
| 15 | Alpharetta, GA | $64,715 | $31.11 |
| 16 | Baltimore, MD | $64,373 | $30.95 |
| 17 | Kansas City, MO | $60,930 | $29.29 |
| 18 | Jacksonville, FL | $59,000 | $28.37 |
| 19 | Phoenix, AZ | $58,281 | $28.02 |
| 20 | Plano, TX | $50,293 | $24.18 |
Insurance underwriter salary details
An insurance underwriter's salary ranges from $35,000 a year at the 10th percentile to $116,000 at the 90th percentile.
What is an insurance underwriter's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $116,000 | $9,667 | $56 |
| 75th Percentile | $87,000 | $7,250 | $42 |
| Average | $64,163 | $5,347 | $31 |
| 25th Percentile | $46,000 | $3,833 | $22 |
| 10th Percentile | $35,000 | $2,917 | $17 |
Highest paying insurance underwriter jobs
The highest paying types of insurance underwriters are credit officer, senior credit analyst, and bank officer.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Closer | $29,291 | $2,441 | $14.08 | 7,560 |
| Credit Officer | $129,478 | $10,790 | $62.25 | 60,323 |
| Loan Administrator | $42,859 | $3,572 | $20.61 | 63,708 |
| Commercial Loan Officer | $70,876 | $5,906 | $34.07 | 91,582 |
| Mortgage Banker | $27,331 | $2,278 | $13.14 | 24,297 |
| Mortgage Consultant | $38,934 | $3,245 | $18.72 | 24,057 |
Top companies hiring insurance underwriters now:
Which companies pay insurance underwriters the most?
Insurance underwriter salaries at Citi and Chubb are the highest-paying according to our most recent salary estimates. In addition, the average insurance underwriter salary at companies like GPAC and Justworks are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | Citi | $111,008 | $53.37 |
| 2 | Chubb | $95,625 | $45.97 |
| 3 | GPAC | $88,756 | $42.67 |
| 4 | Justworks | $81,419 | $39.14 |
| 5 | MassMutual | $80,829 | $38.86 |
| 6 | American Family Insurance | $74,492 | $35.81 |
| 7 | Swiss Reinsurance America Corporation | $72,324 | $34.77 |
| 8 | UCA General Insurance Services | $71,281 | $34.27 |
| 9 | Jencap | $70,978 | $34.12 |
| 10 | Hylant | $70,540 | $33.91 |
| 11 | Brookstone Capital Management | $70,444 | $33.87 |
| 12 | kWh Analytics | $69,746 | $33.53 |
| 13 | KENSINGTON INVESTMENT GROUP INC | $69,727 | $33.52 |
| 14 | Northgroup Asset Management Company | $69,727 | $33.52 |
| 15 | TheGuarantors | $69,727 | $33.52 |
| 16 | The Independent Traveler | $69,683 | $33.50 |
| 17 | Fairmont Capital | $69,667 | $33.49 |
| 18 | Kore1 | $69,401 | $33.37 |
| 19 | Distinguished Programs | $68,772 | $33.06 |
| 20 | The Jonus Group | $68,397 | $32.88 |
Wage gap by gender, race and education
Insurance underwriter salary trends
The average insurance underwriter salary has risen by $9,795 over the last ten years. In 2014, the average insurance underwriter earned $54,368 annually, but today, they earn $64,163 a year. That works out to a 6% change in pay for insurance underwriters over the last decade.
Compare insurance underwriter salaries for cities or states with the national average over time.
Average insurance underwriter salary over time
Compare insurance underwriter salaries for individual cities or states with the national average.
Insurance underwriter salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2026 | $64,200 | $30.85 | +2.5% |
| 2025 | $62,600 | $30.09 | +0.9% |
| 2024 | $62,000 | $29.81 | -0.5% |
| 2023 | $62,300 | $29.98 | +3.0% |
| 2022 | $60,500 | $29.08 | +3.9% |
Recently added insurance underwriter salaries
| Company | Job | Location | Date added | Salary |
|---|---|---|---|---|
| Northwestern Mutual | Assoc Insurance Document | Milwaukee, WI | 06/30/2025 | $35,187 |
| Chubb | Underwriter, Commercial Insurance Specialty | San Francisco, CA | 06/20/2025 | $101,300 |
| Novatae Risk Group | Production Underwriter for E&S/Wholesale Insurance Company | Saint Louis, MO | 06/11/2025 | $75,000 |
| American Farm Bureau Federation | Crop Insurance Underwriter | Fargo, ND | 06/09/2025 | $60,000 |
| Novatae Risk Group | Assistant Underwriter for Wholesale Insurance Company | Jacksonville, FL | 06/08/2025 | $45,000 |
| Trustmark | Insurance Underwriter (Hybrid) | Lake Forest, IL | 06/06/2025 | $50,881 |
| Amwins Group | Associate Insurance Underwriter | Chicago, IL | 05/24/2025 | $55,000 |
| Teksystems | Life Insurance Underwriter | Naperville, IL | 05/24/2025 | $50,151 |
| Chubb | Underwriter, Commercial Insurance Specialty | Rochester, NY | 05/24/2025 | $92,100 |
| Chubb | Underwriter, Commercial Insurance Specialty | Rochester, NY | 05/23/2025 | $92,100 |
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