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What does an insurance claims adjuster do?

Sep 10

The insurance claims adjuster is a difficult job that can lead to a career in the insurance industry. Insurance claims adjusters are an integral part of the insurance industry. The need for adjusters is constant as more accidents and catastrophes occur daily.

TABLE DES CONTENTS

  • Claims Adjusters
  • Claims Adjusting Procedure
  • Work Environment
  • Hours
  • Salary
  • Job Outlook
  • Similar Occupations
  • Get Started

Types of insurance claims adjusters

There are several types of insurance claims adjusters. Each would have an impact on the day-to-day work.

Employer or staff adjuster

One insurance adjuster firm is the only employer of a Company adjuster or staff adjuster. These positions are generally salaried. You receive benefits from the company, including a pension, life and health insurance and continuing education training. Both staff and company adjusters handle claims for the insurance company they work for. These are often personal, and home insurance claims.

Independent Adjuster

Independent adjusters are contractors for several insurance companies or third-party administrators. They are often involved in catastrophe claims and travel to affected areas following major weather events.

Sometimes, independent adjusters are referred to simply as "catastrophe claim adjusters" because they are often the ones who are on the ground following significant weather events.

Public Adjuster

Policyholders directly employ public insurance adjusters. If an insurance company's proposed settlement is unacceptable, they can help individuals or businesses file insurance claims. Public adjusters are usually contract workers, not salaried.

Day-To-Day Work As A Claims Adjuster

No matter what insurance claims adjuster type you are, you will still perform investigative work. A claims adjuster is hired to handle an insurance claim once it has been filed. They collect information to determine the facts and negotiate a fair settlement price.

Some of the information that a claims adjuster gathers during an investigation are:

  • Police reports
  • Witness statements
  • Photos of property damage or an incident
  • All parties involved in an incident should give their statements

Every adjuster has a different goal when they conduct their investigation. A public adjuster seeks to maximize the amount paid to the insured. However, a company/staff adjuster, or independent adjuster, works for the company's best interests.

Are Claims Adjuster Jobs Stressful?

Being a claims adjuster is stressful, especially in difficult situations like natural disasters. Communicating and negotiating with someone who has recently lost everything can be complex and demanding.

Work Environment

Claims adjusters can work remotely, in an office or home, depending on their job, employer and claim subject. Most adjusters will have to travel for their investigations, mainly if there is property damage.

What hours do Claims Adjusters work?

There are many hours that claims adjusters work. An insurance company's staff adjuster may work 9 to 5 but rarely on weekends. Independent or public adjusters az work irregular hours to meet client needs and conduct investigations.

In the event of catastrophic events, public and independent adjusters may need to work up to 40 hours per week. There will be times in the year when their workload will be less. Contract adjusters have greater control over their work hours than staff or company adjusters.

Although a staff adjuster or company employee is a 40-hour-per-week job, there are more flexible options. Independent and public routes allow you to work when you want. You could work as many as 40 hours per week during busy seasons, but you can work much less during slower times.

Claims Adjuster Salary

Although salaries can vary from state to state, the average base salary for claims adjusters in the United States of $65,000 is the same. As a claims adjuster, the more experience an individual has will mean more money.

Outlook for Claims Adjusters

There are currently 349,400 jobs for claims adjusters. Over 25,000 new jobs will be available annually between 2020 and 2030. These opportunities should offer enough opportunity to be a claims adjuster.

Similar occupations

Many positions are similar to a claims adjuster. Many jobs are related to the insurance industry, while others are in finance. These jobs are closely related to claims adjusters:

  • Appraisers and Assessors
  • Brokerage Clerks
  • Inspectors and Compliance Officers
  • Cost Estimators
  • Credit Analysts
  • Fire Inspectors
  • Insurance Underwriters
  • Insurance policy clerks
  • Loan Clerks
  • Tax Emaniers
  • Title Examiners

How to get started as an insurance adjuster

An education minimum of a high school diploma is required to become an insurance adjuster. Although some insurance companies require you to have a bachelor's/ associate's degree to enter the profession, this is not mandatory.

You may also need an adjuster license in some states. You may be able to work anywhere in the country, even if you do not live in a state that requires a license.

They may also be able to use this license to designate another state as their home state. Adjusters can adjust claims in any state with reciprocity by obtaining a license from another state.