Vehicle Insurance Agent
Commission Chart

Vehicle insurance is a must in India. As per the provisions stated in the Motor Vehicles Act, 1988, every vehicle which runs on Indian roads should have a valid insurance policy covering it. As such, vehicle owners have to buy vehicle insurance plans to legally drive their vehicles on Indian roads.

As vehicle insurance is mandatory, there is a great opportunity to become a vehicle insurance agent and earn attractive Vehicle insurance agent commission on the policies that you sell. As a vehicle insurance advisor, you can sell vehicle insurance policies and earn commission on the premiums paid by policyholders. The Government of India’s Insurance Regulatory Development Authority decides the vehicle insurance agents commission structure in India. Since many individuals own a two-wheeler or a car, you would be able to find ready customers to sell vehicle insurance policies.

Another alternative way to sell vehicle insurance policies is to become a Point of Sale Person (PoSP) . As a PoSP you would become an insurance intermediary and sell vehicle insurance policies. The benefits of becoming a PoSP are as follows –

• You can sell vehicle insurance policies of all leading insurance companies
• You can allow your clients to compare the different vehicle insurance plans offered by leading insurers and then choose a policy
• You can earn attractive POSP insurance agent commissions on every policy that you sell
• You can get complete online assistance from TurtlemintPro to sell insurance and to boost your career.

To become a PoSP with all you have to do is just follow the below-mentioned steps –

• Register online with TurtlemintPro
• Submit your KYC documents for completing the registration process
• Access online training modules designed by TurtlemintPro and learn the basics of insurance
• Appear for an online examination from the comfort of your home or office
• Clear the examination and get a PoSP certification

Once you become a PoSP you can easily sell vehicle insurance policies and earn commission on every sale.

When it comes to vehicle insurance, the most popular forms of vehicle insurance plans are car insurance and two-wheeler insurance plans. Another type of categorizing vehicle insurance plans is private vehicle insurance and commercial vehicle insurance plans.

Both Commercial Vehicles and Private Vehicles can be of two types- Third-party liability-only plans and comprehensive plans that are available in the market.

• Third-Party Liability-Only Policy

  Third-party liability only policy is the mandatory policy as per the rules stated by the Motor Vehicles Act, 1988. This policy covers the third party liability which is incurred when the vehicle causes the following damages –

  1. Kills a third party
  2. Physically injures a third party
  3. Damages third party property



In any of the above-mentioned instances, the vehicle owner faces a financial liability to compensate the third party for the damage caused. The third-party policy covers this financial liability and pays the liability incurred by the vehicle owner.

• Comprehensive Policy

  Third-party policies cover only third party liabilities. If the vehicle itself suffers any damage, the costs incurred on its repairs are not covered under third party plans. This is where a comprehensive policy comes into the picture. The comprehensive plan covers third-party liabilities as well as damages suffered by the vehicle itself.

  Under a comprehensive plan, vehicle damage due to the following contingencies are covered –

  1. Natural disasters like earthquakes, lightning, landslides, floods, storms, etc.
  2. Man-made disasters like riots, malicious acts, fire, theft, etc
  3. Damages suffered in transporting the vehicle



The damages suffered by the vehicle are covered under the head ‘own damage cover’ and third party liabilities are covered under ‘third party cover’. Comprehensive policies, therefore, have different premiums for ‘own damage cover’ and ‘third party cover’. Both the premiums are added together to arrive at the total premium for the plan.

Insurance agent commission can also be earned by selling commercial vehicle insurance policies. TurtlemintPro facilitates vehicle insurance plans for both Goods Carrying Vehicles (GCVs) and Passenger Carrying Vehicles (PCVs). Thus, TurtlemintPro gives you a wider choice of motor insurance policies which you can add in your kitty to expand your customer base.

The vehicle insurance agent commission payable to a vehicle insurance agent depends on the following four factors –

• Type of policy that is sold - Comprehensive plans have higher premium rates due to the scope of coverage that they provide. As such, higher vehicle insurance agent commission can be earned by selling comprehensive insurance policies. Third-party plans, on the other hand, have lower premiums and, therefore, pay lower vehicle insurance agent commission.
• Type of vehicle which is being insured -four-wheelers have a higher value than two-wheelers. As such, premiums for four-wheelers are higher than that of two-wheelers. The car insurance agent commission rate, however, is higher for two-wheeler premiums so that the agent can earn decent commissions by selling two-wheeler policies too.
• Age of the vehicle which is being insured -the age of the vehicle determines the insured value of the vehicle. The insured value affects the premiums and, thus, the vehicle insurance agent commission that you can earn.
• The amount of premium that is collected -the higher the amount of premium that you collect, the higher would be your premium.

Here is the maximum vehicle insurance agent commission that you can earn as a vehicle insurance agent by selling different types of vehicle insurance policies –