Insurance Agent Salary in Andover, MN: $65,094 (2026)
Quick Answer:A full-time insurance agent in Andover, MN earns a median $65,094/year (≈ $31.30/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 41-3021). Once you factor in Andover's price level (1% below national, BEA RPP 98.5), that paycheck buys what $66,085 would nationally. Nominal pay sits 3.6% below the Minnesota state average.
Based on BLS state-level estimates · View source
Insurance agents in Andover, MN, can anticipate a median annual salary of $65,094 in 2026, which positions them slightly above the national median for the same year at $64,522. The salary range for this profession here varies significantly, with entry-level (P10) salaries starting at $42,452 and experienced agents (P90) earning as much as $100,896. These figures are drawn from estimates based on 2025 BLS data, which have been adjusted for the local cost of living. Notably, Andover's insurance job market reflects a mix of career paths, including captive agents from companies like State Farm and Allstate, independent agents operating through multi-carrier brokerages, and those in sizable commercial brokerage firms. The dynamics of these roles contribute to the salary variations seen, with opportunities for higher earnings predominantly present in commercial lines compared to personal lines.
About the Andover Market
Salary estimated from Minnesota average ($68,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $42,452 | $20.41 |
| Lower Range (P25) | $50,891 | $24.47 |
| Median (P50)(typical) | $65,094 | $31.30 |
| Upper Range (P75) | $83,320 | $40.06 |
| Top Earners (P90) | $100,896 | $48.51 |
Median Salary Position
0.89% above the national average
2026 Salary Percentile Distribution in Andover
In Andover, MN, the insurance agent salary spread from the 10th to 90th percentile is $58,444 (2026 est.). At $65,094, the local median is 0.89% above the national median of $64,522.
Salary Calculator
At 40 hours/week in Andover: You'd be in the lower-middle range
How Andover Insurance Agent Pay Compares
Andover median: $65,094/year (2026)
| Compared To | Median Salary | Andover Pays |
|---|---|---|
| Minnesota Average | $67,525 | -3.60% less |
| National Average | $64,522 | +0.89% more |
Insurance Agents in Andover, MN earn a median of $65,094 per year (2026 est.), which is 0.89% higher than the national median of $64,522 and 3.60% below the Minnesota state average of $67,525.
Cost-of-Living Adjusted Salary
Andover has a cost of living 1.50% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Andover, MN has a cost-of-living index of 98.5 (below the national average of 100). A insurance agent earning $65,094 nominally has purchasing power equivalent to $66,085 in an average-cost city — an effective 1.52% boost.
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2019 BLS Actual
$51,391
2025 BLS Actual
$62,832
2026 Current Est.
$65,094
2019–2027 Growth
+31.2%
Salary Trajectory for Insurance Agents in Andover (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.60% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $51,391 | Actual |
| 2020 | $52,642 | Actual |
| 2021 | $50,282 | Actual |
| 2022 | $58,373 | Actual |
| 2023 | $59,604 | Actual |
| 2024 | $64,547 | Actual |
| 2025 | $62,832 | Actual |
| 2026(current) | $65,094 | Estimated |
| 2027 | $67,437 | Projected |
Based on 7 years of BLS OEWS data for the Andover metropolitan area, the median insurance agent salary grew 22.3% from $51,391 (2019) to $62,832 (2025). At a 3.60% compound annual growth rate, salaries are projected to reach $67,437 by 2027 — a total increase of $16,046 (31.22%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Andover metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 3.60% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $42,452 – $50,891 |
| 3-5 years (Mid Career) | $50,891 – $65,094 |
| 5+ years (Experienced) | $65,094 – $83,320 |
| 10+ years (Top Earner) | $83,320 – $100,896 |
Agent salary ranges estimated from BLS percentile data. Individual insurance agent compensation varies by employer, certifications, and specialization.
Insurance Agent Job Market in Andover
The job market in Andover includes eight employed insurance agents, a relatively modest figure that reflects a niche yet stable demand for this role amidst local economic conditions. With a cost-of-living index of 98.5, agents in Andover may find their take-home pay goes further, particularly when considering the lower price point for housing and other expenses compared to national averages. Among the local employers, captive agents working with well-known companies are likely to secure more stable, albeit capped, compensation packages due to their structured commission models. However, independent agents can maximize their potential earnings by building a robust book of business and tapping into higher commissions offered in commercial insurance. Strategies to increase pay may involve pursuing advanced certifications such as CPCU or CIC, which enhance credibility and attract larger accounts. Understanding the regional market and client needs can also lead to improved compensation through tailored service offerings and retention of high-value clients.
More salary data for Andover, MN:
Frequently Asked Questions
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Written by Jordan Lee, MBA
Career Analyst
Jordan has over 10 years of experience in the insurance industry. He specializes in property and casualty insurance. He has worked in both agency and corporate settings.
Methodology & Data Source
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $62,832 for insurance agentsin the Andover metropolitan area. A 3.60% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Salary data for Andover is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 3.60%, derived from historical BLS wage trends for insurance agents (SOC 41-3021).
Compiled and verified by Jordan Lee, MBA, a licensed insurance agent with 10+ years of clinical experience. · View source data at BLS.gov