Do you have a background in real estate, construction or property management? You might find becoming an insurance adjuster to be a rewarding and exciting career change.
You can choose to learn auto adjusting or property adjusting. This article will focus on becoming an insurance claims adjuster.
Although it is helpful to have a degree in insurance, it is not required. What is required is that you get licensed by your state, and complete pre-licensing training for claims adjusters. Each state has different rules, regulations and requirements, so you will need to visit your state’s website to get all of the details.
Reciprocal Licenses
Some states have what is called a ‘reciprocal license’ agreement; Texas and Florida, for example, are reciprocity states.
Reciprocity is where a state recognizes another state’s license . This means that insurance claims adjusters holding a license in one state, generally as a resident, can get licensed in other states without having to complete that state’s exams or requirements.
You must submit an application, per their requirments, however. You don’t automatically get licensed in the reciprocal license states. The Texas adjuster license is good to have, because 30 different states recognize this license. Once you have earned your Texas adjuster license (which can be done online or in person), you simply make application to the different states, pay your fee –and you can get that state’s license without having to take the specific state exams.
Working As an Independent Claims Adjuster
You will work out of your home, running ‘local claims’ and in catastrophe situations, such as hurricanes.(CAT duty)
You will need a reliable pickup truck, a ladder, laptop computer, cell phone–and an RV travel trailer is a good idea for cost savings. If you are deployed after a hurricane, for example, lodging may be difficult to find and will certainly be expensive. A small generator is also a good idea, along with extra fuel containers.
You will be climbing your ladder and getting onto roofs, for residential hail claims and hurricane claims. If you are not physically able to do this, or you are afraid of heights, you want to work with a partner who is able to do this.
Strong customer service skills will help. Dealing with people who have suffered loss due to hurricanes, fires, tornadoes, etc. can be challenging. You will also be dealing with the insurance field personnel and learning the state-specific policy details.
Getting deployed into your first big storm can be very stressful and you will work long hours, 7 days a week, until your claims are scoped. Some employers insist that you stay in the storm area until your claims are completely closed and paid; others may let you inspect the damage, take photos and scope notes…and then head back home.
You will create claims estimates using industry-specific software. The most widely used software is called Xactimate. Learn to use this software early in your adjuster career and you will have many more opportunities for work.
Insurance Adjusters -What Can I Earn?
This varies widely. If you are a staff adjuster for an insurance company, starting pay may be $35K up to $60K. Commercial claims adjusters can earn $50K per year and over $100K per year as staff adjusters. Again, it depends on many factors. You definitely want to be skilled with Xactimate software , which will help.
As an indendent adjuster, your pay in a storm is directly tied to how fast and efficient you can work the claims. As your experience grows, so will your claims adjuster income.
Resources for Becoming and Insurance Adjuster:
==>Get Xactimate training here<==
Insurance Adjuster Pre Licensing Training Online
