| IADAVE - 3/20/2024 10:14
17% of what I pay in premium is not a huge amount. My agent probably spends a couple hours a year talking to me. On the surface that looks like good money.
Then if one figures that they probably spend as much time doing my paperwork as I do filling it out. Suddenly it is not so lucrative.
If they get 17% of the total premium, that is better. They still have insurance to pay, advertising and office expense though.
I got the 17% from a post further up. Another post said 10%.
Crop commissions on MPCI policies is far, far from 17%. It is based on gross premium, not farmer paid premium, and it fluctuates every year. Margin Protection and Private Products (Hail, Wind, Replant Option, buy-up programs) all pay a higher percentage commission than your base MPCI policy does. |
Crop Insurance
