How Much Do Insurance Agents Make in New York?

If you're considering an insurance career in New York, earning potential is likely one of your biggest questions. The good news is that New York is consistently one of the highest-paying states for insurance agents in the country, thanks to its massive population, high property values, and complex insurance needs. Here's a realistic look at what you can expect to earn.

What Is the Average Insurance Agent Salary in New York?

According to the U.S. Bureau of Labor StatisticsSales Insurance Sales Agents.htm Ooh, the national median annual wage for insurance sales agents is $60,370. New York agents typically earn higher than this median, with statewide averages regularly reported above $70,000. Agents working in New York City and surrounding metro areas often command even higher incomes due to the concentration of high-value policies and commercial opportunities.

Keep in mind that "average" salary data includes both brand-new agents and seasoned producers. First-year agents typically earn less as they build their book of business, while experienced agents with established client bases and renewal income often earn well into six figures. For a more personalized estimate, our salary calculatorPre License What Could Your Insurance License Be Worth Resources lets you project earnings based on your license type and career goals.

How Does License Type Affect Your Earnings?

Your choice of license type has a significant impact on your earning potential. Life and Health agents often earn higher initial commissions but face longer sales cycles. Property and Casualty agents benefit from recurring renewal income — once you write a homeowners or auto policy, you earn a commission each time it renews. Many successful agents hold both P&C and Life and Health licenses to maximize their income streams.

Commercial lines agents — those who work with businesses rather than individuals — typically handle larger policies with higher premiums, which translates to larger commissions per sale. If you're curious about whether a P&C licensePre License Is Becoming A Licensed Property And Casualty Insurance Agent Worth It Resources is the right starting point for you, the renewal income model is one of its most attractive features.

How Do Commission Structures Work for New York Agents?

Insurance agent income is typically commission-based, though the exact structure depends on whether you work as a captive agent, an independent agent, or under a draw-against-commission arrangement.

Captive agents work exclusively with one carrier and often receive a base salary plus commission and benefits. This offers more income stability, especially in the first year, but typically comes with lower commission rates. Independent agents work with multiple carriers, earn higher commission percentages, and keep their book of business — but they're responsible for their own expenses, leads, and benefits.

Residual income from renewals is what makes insurance one of the most scalable careers available. As your book grows, renewal commissions create a baseline income that increases each year even without writing new business. Understanding these structures early helps you make smarter decisions about first-year expectationsPre License What Insurance Agents Actually Earn In Their First Year Resources and long-term career planning.

What Factors Affect Insurance Agent Pay in New York?

Several factors influence how much you'll earn as a New York insurance agent. Location matters — agents in New York City, Long Island, and Westchester County generally earn more than those in upstate markets, though cost of living is also higher. Experience level is a major factor, with agents typically seeing significant income growth between years one and five. Specialization in niche markets like commercial insurance, Medicare, or high-net-worth clients can also increase your earning potential. Finally, the strength of your client referral network and retention rate directly affects your renewal income over time.

How Does New York Compare to Other States for Agent Earnings?

New York ranks among the top states for insurance agent compensation, largely because of the volume and value of insurance policies sold in the state. The cost of living — particularly in the New York City metro area — is higher than most states, but so are policy premiums and commission amounts. States like California and Texas also rank highly for agent earnings, and each has its own licensing requirements and market dynamics. If you're weighing different states, looking at the best-paying insurance careersPre License What Are The Best Paying Jobs In Insurance Resources can help you think bigger about your long-term trajectory.