How Independent Insurance Agents Are Paid

At Hanby Insurance, we love hearing your questions! One question we are often asked is how we are compensated. Some people assume that working with an independent agency like ours might cost more due to fees. That’s simply not true.

Paid by Commission

Just like agents who work exclusively for certain insurance companies, independent agents like us earn our money through commission. This means that when you buy insurance from us, you’re not paying anything extra for our services, just the cost for your policy!

How the Commission Works

Here is how it breaks down: whenever we sell you a policy, we earn a commission, usually a percentage of the premium you pay. For example, if you purchase a policy with a $1,000 annual premium and the carrier pays our agency 10% in commission, the agency would earn $100 for that sale. The exact commission rates vary depending on the type of insurance and the agreement that we have with the insurance company.

Call for Insurance Help

We’re Here to Help! If you’re looking for a quote or have any questions, please don’t hesitate to reach out! We’re here to help you understand your insurance options and make sure you’re getting the best value for your money. At Hanby, our goal is to make your insurance experience smooth and transparent, so you never have to worry about surprises!