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How Much are Insurance Broker Fees?

Insurance can be a costly expense, which explains why a lot of people are worried about finding the right insurance plan. No one wants to overpay for things they don’t need, which is why so many people work with an insurance broker to find the best possible policy to suit their needs. Working with an insurance broker can be a wonderful change, but it does come at a cost. The actual price may vary, but let’s explore what you can expect when paying insurance broker fees.

What You Need to Know

Insurance broker fees can be an unwanted expense, but they are a necessary one. To fully understand how these fees work and what you should expect, you’ll need to have a firm understanding of what these fees are and how they are priced out. 

What Are Insurance Broker Fees?

An insurance broker fee is a fee that is paid directly to an insurance broker as a part of your insurance agreement. These individuals can help you to find a valid policy that suits your needs, but not all policies are created equally. Some policies require direct interactions that others do not, particularly when you look at more custom policies. Since insurance brokers generally put in a significant amount of work to find good policies and the majority of brokers do not get a commission from the insurance company, the associated fee is their way of being paid for the work that they do.

How Much Do These Fees Cost?

The truth is that there is not a set price for insurance broker fees. The majority of individuals can expect to pay within a certain range. While the occasional insurance broker might charge a flat fee, the majority of insurance brokers are known to charge a percentage based on the overall cost of the policy.

When insurance brokers opt to take a percentage of a policy cost, there is still a range that will follow. Some insurance brokers charge lower amounts because they also earn a commission while others charge significantly higher amounts. The average person can expect to pay anywhere from 5% to 20% on the overall cost of their policy.

Beyond simply charging a percentage of the overall insurance premium, insurance brokers also expect ongoing payment for their services. The fee associated with insurance brokers is one that generally renews on an annual basis for the duration that the individual maintains their policy, which is something to keep in mind. 


The insurance world is one space that the average person shouldn’t navigate alone. Insurance brokers empower us to find plans that suit our individual needs and preferences, and that can take a fair amount of work. If you are looking for Denver insurance brokers to help you better understand which insurance policy is right for you, we are happy to help with a wide range of services aimed at helping you to get the coverage that you need!

Mountain Insurance

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