What Does an Insurance Claims Adjuster Do | Career Insights
table of contents
- types of loss adjusters
- claims adjustment process
- work environment
- job prospects
- similar occupations
- police reports
- witness statements
- photos of an incident or property damage
- statements from everyone involved in an incident
- appraisers and appraisers
- brokerage clerks
- compliance officers and inspectors
- cost estimators
- credit analysts
- fire inspectors
- insurance underwriters
- employees of insurance policies
- loan clerks
- tax issuers
- title examiners
types of insurance claims adjusters
There are a few different types of insurance claims adjusters, and each would influence what the day-to-day job looks like.
company or staff adjuster
A firm or personal adjuster works full-time for an insurance adjusting firm exclusively. Typically, these positions mean that you are salaried and receive benefits from the company, such as a pension, life and health insurance, and continuing education training. Company and staff adjusters respond to claims from the only insurance company they work for. These are often home and personal auto claims.
Independent adjusters work as contractors for various insurance companies or third-party administrators. they often work with catastrophe claims and will travel to affected areas after major weather events or emergencies.
Independent adjusters are sometimes referred to as “catastrophic loss adjusters” because they are the ones on the ground after major weather events and emergencies.
Public insurance adjusters work directly on behalf of policyholders. They help companies or individuals file insurance claims if a proposed settlement appears inappropriate on the part of an insurer. Public adjusters are generally contract workers rather than salaried.
how to become a claims adjuster >>
day job as a claims adjuster
Regardless of what type of insurance claims adjuster you are, you will do some investigative work. Once an insurance claim is filed, a claims adjuster is called in to take over the process. They gather information and details to find out what happened in the incident and find a fair settlement price.
Some of the information a claims adjuster collects during their investigation includes:
Each type of adjuster has different goals when conducting their research. for example, a public adjuster wants to get paid as much as possible to the insured, while a business/personal adjuster or an independent adjuster works in the interest of the insurance company.
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Are claims settlement jobs stressful?
Working as a claims adjuster can be stressful, especially during difficult times like natural disasters. communicating and negotiating with someone who has recently lost all of their possessions can be demanding and difficult.
Claims adjusters may work from home, work in an office, or work in a hybrid environment depending on their role, employer, and subject matter of the claim. When investigating a claim, most adjusters will need to travel to conduct their investigation, especially if the claim involves property damage.
What hours do claims adjusters work?
Working hours for claims adjusters vary considerably. A company or staff adjuster for an insurance company may regularly work 9-5 hours and rarely on weekends; Independent or public adjusters are more likely to work irregular hours to accommodate clients’ schedules and conduct investigative work.
Public and independent adjusters, in particular, may have to work more than 40 hours a week during catastrophic events. however, there will also be times during the year when your workload is much less. As contract adjusters, they have more control over how much they want to work than company or staff adjusters.
While being a company or personal adjuster is a steady 40-hour-a-week job, freelance and public routes offer more flexibility. if it’s peak season, you could work more than 40 hours a week, but you could work much fewer hours during off-peak hours.
claims adjuster salary
Salaries can vary from state to state, however, the average base salary for a claims adjuster in the United States is around $65,000. the more experience a person has, the more money they can expect to make as a claims adjuster.
job outlook for claims adjusters
Currently, there are 349,400 claims adjuster jobs in the United States. From 2020 to 2030, more than 25,000 jobs are expected to be available each year. these vacancies should provide interested persons with sufficient opportunities to become claims adjusters.
There are many positions that are similar to being a claims adjuster. some of them are within the insurance industry and some are in other industries such as finance. Jobs that are similar to a claims adjuster include:
start as an insurance adjuster
To become an insurance adjuster, you will need a minimum education of a high school diploma or its equivalent. Although some insurance companies may require a bachelor’s or associate’s degree, it is not required to enter the profession in all cases.
In some states, you will also need to have an adjuster’s license. Even if you don’t live in a state that requires a license, you can decide to get a license from another state, called a designated home state license, so you can work across the country.
The Home State Designated Adjuster license is available to individuals who are residents of a state that does not license appraisers, or individuals who are business appraisers and reside in a state that only licenses independent appraisers and want to designate a non-resident adjuster state as their home state. When licensed in another state under the designated home state exemption, adjusters may adjust claims in the designated state and in any state that has reciprocity with the designated state.
For example, a 70-20 Florida Nonresident Designated Home State Adjuster license provides non-Florida residents with the opportunity to designate Florida as their “home state” and Florida employment claims along with many other states.
Which states require an appraiser’s license? >>
If you get a license, you will need to maintain that license with continuing insurance education. Each state has unique requirements, so it’s best to check your state insurance department’s website for specific details.