How Do Car Insurance Agents Make Money?
1305 POINTSview profileNeil SteinmanOwner, Orange County Health & Life Insurance,Insurance Agents are paid by the insurance carrier. It is important to note that the premium you pay is in no way affected whether or not you use an agent. The insurance prices are "set" and do not change whether you buy direct from the carrier or from an agent. So you're getting all of the experience and knowledge the agent has attained at no cost to you! Additionally, the agent becomes your "go to" person should you need help in the future. A good agent will also keep his/her eyes open for changes that occur in the marketplace that may affect you, as well as additional products that may protect you and your family. That's quite a lot of service and benefit for zero cost!Answered on May 4, 2014flag this answer
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasGreat question! In almost every case, an insurance agent makes a living off of the commissions on the products they sell. The insurance company pays the agent a percent of the yearly value of the policy they sell. They may get some small base salary or benefits, but the majority of the income will come from the policies that they sell. Thanks for asking!Answered on May 5, 2014flag this answer
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