For insurance brokers in British Columbia?

For insurance brokers in British Columbia?

I just became an insurance broker for personal lines and autoplan. How much does the average person make per year and do I get commission for autoplan renewals?

Fred

If you have your own broker's office you will get agency commission on renewals. I suggest if you are a new broker, you will be working for somebody else. You likely have a level 1 licence, in which case you will probably start out in the neighbourhood of 9 or 10 dollars an hour. You need a level 3 insurance licence (you earn that by passing CAIB 1 (or Fundamentals of Insurance), 2, 3, and 4) to run your own office, or be a manager for somebody else. You need a level 2 licence (CAIB 2 and 3) to be able to work without supervision in an office, and to sell outside the office. Note, CAIB is not the only road to licencing, there are equivalents, but CAIB is the route I took.I retired as a broker in Manitoba. My base salary was $30,000. I received commission on every personal and commercial lines policy I wrote, and auto policies other than basic Autopac. I received commission on basic Autopac for clients I actually brought into the office. There was no limit to my commissions, and, in slow months, no minimum quota to meet. I did receive a commission cheque every month, so I did not too bad financially.There are many similarities between BC and Manitoba as far as auto and personal lines insurance.For new brokers, the greatest part of your salary is your base salary, and you may not even qualify for commission from the agency owner until you reach a certain level. After a few years experience, your commissions for writing business become an important part of your income.

Ask

insurance

Popular Q&A

How good is USAA auto insurance?
USAA is an incredible company for Auto Insurance, as well as banking, life insurance, and home/rental insurance.Personally, I have Auto / Credit Card / Life Insurance / Rental Insurance all through USAA.When I was involved in a car accident a few years ago, it took only one call to get everything...

How do I get my first legal job in Chicago?
When I graduated from a Chicago law school in 1993 I sent out 685 resumes and got 3 interviews. One of the interviewers came to reception area looked me up and down and said 'you won't fit in here', so I guess I only got 2 interview. Chicago is a tough area because we have so many law schools...

Where are good public auto auctions in southern California?
good public auto auctions ....I would venture to say there aren't a dozen good public auto auctions anywhere in the US.Good auto auctions don't have time to fool with the clueless public, many of whom do not even understand that they have to PAY for the car they just bought. They think the...

Auto Insurance for Son with Learner's Permit?
Honestly I don't know WV law, but the above answer isn't necessarily correct. I could drive with a permit in my parent's car without extra charge but the main thing is the plan. Make sure you check with your insurance and don't let them talk you into something. Just find out if you can give...

Should i have my g2 licence for sure to get my auto insurance?
With insurance your G1 is considered a learners permit. Obviously you know that you can only operate a vehicle with a fully licensed driver with you. A lot of online quoting systems are geared towards the norm so when you attempt to get a quote online and mention the G1 is it not configured...