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Any idea how much an insurance agent commision is?

Discussion in 'Non-Vegas Chat' started by Joe, Jan 22, 2013.

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  1. Joe

    Joe VIP Whale

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    So I have all my insurance with AAA. Home owners, two cars and an umbrella policy.

    Ballpark, how much does an agent make on an annual commission of ~$1,400 per year.
     
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  2. tomrice44

    tomrice44 Newbie

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    Many variables. But a rule of the tumb is 10 to 15 percent. That is for independent agents. I am in the biz so I know. But often an agent has to cobroker a product with another for various reasons. Then they would both split. There are some companies paying more or less out there but as a norm its 10 to 15.
     
  3. Username

    Username VIP Whale

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    When I had a agent I called her and told her I could save $421 on our insurance policy (home owners and car insurance) if I went with my wife's group policy from work.....She said, let me get back to you.......she called 2-3 days later saying she could save me $200 from the policy I now had with her....huh, why didn't she do that without me asking....bottom line I went with my wife's group policy and never looked back.....
     
  4. S'AllGoodMan

    S'AllGoodMan High-Roller

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    I use Amica. No middle agents. You buy direct and deal directly with them. I've had them for years and they are great with customer service.
     
  5. UTE

    UTE Plastics

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    Insurance agents, like travel agents, are becoming unnecessary middle men. The company I deal with has no agents - and, coincidentally, has some of the lowest rates in the nation. Yet, it has a high customer satisfaction rating.

    Bill
     
  6. Joe

    Joe VIP Whale

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    For the heck of it, I did an on-line quote with Amica for auto and home. Both were higher than my current rates.
     
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  7. RC

    RC Low-Roller

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    Joe,

    What company is your insurer? I've been thinking that I'm paying too much and now I'm pretty sure that I am as I'm paying for a house and one car and the total is about the same as yours. Thanks
     
  8. Joe

    Joe VIP Whale

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    I've been with AAA for about 8 years now. Two cars, home and a 3 million umbrella policy.
    Cars are older (97 & 98) so we don't carry collision, but still have comprehensive. Damn deer running around!:poke:
    The umbrella is $238 per year
    The two cars are $540 per year
    The homeowners just jumped from $428 per year to $630.

    In December I filied my first ever homeowners claim. My cost $500 deductible, total bill $6,000+. But now my homeowner rate jumped up. F*ckers!

    My agent says he's looking into the increase and it shouldn't be related to the claim. Yea, right!
     
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  9. merlin

    merlin VIP Whale

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    I've been with amica for several years, great service and the best rates(for me). A friend has them and they actually called him after a hailstorm and asked if he had any damage. I have told others about them and they have received very high quotes as well, I think they dont want people from certain areas/or bad risks and quote accordingly.
     
  10. zamboni

    zamboni VIP Whale

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    I don't get how rates are based on credit ratings. Some millionaire with perfect credit could be the worlds biggest dipshit behind the wheel, hitting everything in sight, yet someone with poor credit might go years without an accident.
     
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  11. Joe

    Joe VIP Whale

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    I can't argue with your logic, but the rates do take credit scores into account. I remember when we moved back here our agent saying since our credit score is in the 800s, so we would be getting the best rate.

    Maybe the logic is that people with high credit scores are more responsible and that would also apply to driving? I have no clue, just taking a shot in the dark.:confused2:

    I did find this:
    http://www.esurance.com/insurance-resources/credit-score-myth
    and this:
    http://www.bankrate.com/finance/insurance/credit-scores-affect-car-insurance-rates.aspx
     
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