How Much Do Insurance Claim Adjusters Make – Claims adjusters investigate insurance claims to determine the extent of a company’s liability insurance. Claims adjusters may handle property claims involving structural damage, and/or liability claims involving personal injury or third party property damage.
A claims adjuster reviews each case by speaking with the claimant, interviewing any witnesses, researching records (such as police or medical records), and inspecting any property involved.
How Much Do Insurance Claim Adjusters Make
Claims adjusters verify a policyholder’s request for funds from an insurance policy. They determine a reasonable amount for settlement. These claims can be of any type, from personal injury to property damage. In property damage claims, the insurance adjuster’s primary role is to conduct a detailed investigation of the claim by:
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For example, if a homeowner files an insurance claim because a tree fell on their home, a claims adjuster will interview the plaintiff (homeowner), along with witnesses, and inspect the property to determine the extent of the damage and the cost of repairing the property. The claims adjuster then submits documentation to the insurance company explaining the incident and a recommended claim amount (how much money the insured will receive from the insurance company to repair the property).
Once the investigation is complete, the adjuster will then be able to determine the amount of the insurance company’s potential liability to its insured. Perpetrators often try to convince property owners to accept less money than their claim is worth.
Becoming a claims adjuster is not usually a career path that many people think about, but it is an industry with a high career demand. Typically, insurance claims adjusters require at least a high school diploma, although an associate’s or bachelor’s degree may be preferred. From there, individuals need to study for and pass a licensing exam.
Some states require a certain number of hours of training to be completed beforehand. From there, insurance adjusters need to complete continuing education credits to maintain their license. In California, licensed independent insurance adjusters must complete a minimum of 24 hours of continuing education, each two-year licensing term.
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For example, in Florida, insurance claims adjusters must take and pass the Florida Adjuster Exam from an approved vendor. The state also requires adjusters to complete 24 hours of continuing education every two years.
Claims adjusters have a very stable career: there is always a demand for this role, and even in times of recession, there will always be a need for adjusters to come in and assess the damage caused by natural disasters to individuals, businesses, and companies. Plus, becoming a claims adjuster is pretty easy if you’re willing to put in the work and pass a licensing exam.
Additionally, claims adjusters have a lot of freedom in their work. It’s definitely a mobile job, but claims adjusters do everything from estimating storm damage to paperwork, consultations, inspections, and more. This is truly a job that you can build on to focus on what you like and rent out the parts you don’t. Especially if you are an independent claims adjuster, you can choose how you charge for the work and how you get paid.
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Claims adjusters work for insurance companies. They may work directly for an insurance company, or they may be a freelance adjuster hired by an insurance company to handle certain claims. In either case, they will not have your best interests in mind, because their company is an insurance company. We recommend that you consider hiring your own independent claims adjuster, who works to protect your interests in a claim. Your own claims adjuster will do everything possible to minimize your losses. The lack of conflict of interest between the adjuster and the insurance company benefits the plaintiff.
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If you have an accident, the best thing you can do is provide a detailed description of all the items lost and be sure to create an inventory of the home, especially through photos and videos. Get your own repair estimate, and be sure to do your due diligence.
According to Indeed.com, the average salary of a claims adjuster in the US is $61,465 per year. However, a claims adjuster’s salary will depend on how many claims they work on at once. Some people estimate that adjusters can earn thousands of dollars a week.
Being an insurance adjuster is a relatively flexible job, but the process of negotiating and communicating with parties who often experience difficulties can add stress to the job.
This depends on the state; each state will issue different guidelines for insurance adjusters to respond to claims.
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The offers that appear in this table are from partnerships that receive compensation. This compensation may influence how and where listings appear. does not include all offers available on the market. Average claims adjuster salary$51,116 To create our salary estimates, start with data published in publicly available sources such as the US Bureau of Labor Statistics (BLS), Foreign Labor Certification Data Center (FLC) ) Show more
The average claims adjuster salary in the United States is $51,116. Claims adjuster salaries typically range between $40,000 and $64,000 per year. The average hourly rate for a claims adjuster is $24.57 per hour. Claims adjuster salaries are influenced by location, education, and experience. Claims adjusters earned the highest average salaries in New Jersey, California, Alaska, New York, and Connecticut.
The average salary of claims adjusters in New Jersey, California, and Alaska is the highest in the US. The lowest average claims adjuster salaries in the states are Tennessee, Delaware, and South Carolina.
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A claims adjuster with 0-2 years of experience earns a starting average salary of $31,309. A mid-career accountant with 3-6 years of experience earns an average of $51,116 per year. A senior level accountant with 7-12 years of experience enjoys an average annual salary of $81,395.
Claims adjuster salaries at Merchants Insurance Group and Mercy Health are among the highest salaries according to our latest salary estimates. Additionally, the average salary for accountants at companies like TALENT Software Services and AIG is very competitive.
New Jersey pays the most Claims Adjusters in the United States, with an average salary of $60,790 per year, or $29.23 per hour.
You know whether you are being paid fairly as a Claims Evaluator if your salary is close to the average salary in the state where you live. For example, if you live in California, you should expect to be paid closer to $59,527 per year.
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Yes, insurance adjusters make a lot of money. However, this really depends on the type of insurance adjuster who specializes. As a frame of reference, insurance adjusters can earn anywhere from $30,000 per year to $100,000 in just one hurricane season. .
Yes, being a claims adjuster is a great career. In fact, being an insurance claims adjuster is one of the most profitable careers you can have in the US in recent years, according to the Bureau of Labor. Becoming a claims adjuster can pay very well, but it requires a lot of effort and can be stressful.
The claims adjusters who make the most money are independent catastrophe insurance claims adjusters (CATs). After a natural disaster, working as a CAT can earn you around $100,000 for 6 to 9 months of work. “Expert verified” means our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board consists of a panel of financial experts whose aim is to ensure that our content is always objective and balanced.
Written by Cate Deventer Written by Cate DeventerArrow Right Former Writer & Editor, Insurance Cate Deventer is a writer, editor, and insurance professional with more than a decade of experience in the insurance industry as a licensed insurance agent. Connect with Cate Deventer on Twitter Twitter Connect with Cate Deventer on LinkedIn Linkedin Cate Deventer
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Edited by Angelica Leicht Edited by Angelica LeichtRight Editor Arrow, Credit Cards Angelica Leicht is an editor at CreditCards.com. He has more than a decade of experience as a writer and editor, with a particular emphasis on personal finance content for more than half of his career. Angelica Leicht
Reviewed by Mark Friedlander Reviewed by Mark FriedlanderRight Arrow Director of corporate communications, Insurance Information Institute Mark Friedlander is director of corporate communications at III, a nonprofit organization focused on providing consumers with a better understanding of insurance. Connect with Mark Friedlander on Twitter Twitter Connect with Mark Friedlander on LinkedIn Linkedin About our review board Mark Friedlander
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