Roadmap to Becoming an Independent Insurance Adjuster
It’s true. Starting your career as an insurance adjuster is one of the surest ways to make 6 figures a year. But if you’re looking to get started, you don’t want to feel lost at sea. Fortunately for you, there are a lot of awesome tools out there like the Roadmap to Becoming an Independent Insurance Adjuster course that can help you find success! This course was designed to provide you with insider info on what it takes to get started in the industry, and the steps taken to reach over $100,000 in just 12 months.
What an Insurance Adjuster is and what they do
Many people think that an insurance adjuster is someone who takes your statement after a car accident and decides how much to pay you. In reality, an insurance adjuster is a highly trained professional who has the ability to work anywhere in the world.
Insurance adjusters are responsible for investigating and resolving property, auto, and casualty claims. They are often hired by insurance companies to investigate the damage done to an individual’s property or vehicle.
An insurance adjuster must be able to quickly assess the situation, determine what needs to be done and develop a plan of action to fix the problem.
Some of an insurance adjuster’s responsibilities include:
- Collecting evidence from the scene of an accident or other incident
- Interviewing witnesses, taking photographs, and documenting any damage.
- Making sure that victims receive proper medical treatment if needed.
- Contacting repair shops and other experts as needed.
- Determining fault in a claim situation.
- Negotiating settlements with claimants or their attorneys.
The insurance claims industry is one of the best-kept secrets for financial opportunity.
Ever heard of the insurance claims adjuster?
No? I’m not surprised. It’s one of the best-kept secrets in the world of careers. But if you’re looking for a new job, or simply want to earn more money and improve your life, consider this: The average insurance adjuster earns $80,000 to $130,000 per year and is almost always paid on a fee-for-service basis, meaning you get paid for every file you close. If you’re working as an independent adjuster, you can make as much as $500 a day or more when responding to large losses!
For example, during the peak of the 2017 hurricane season, adjusters were making $65,000 to $100,000 in one month.
Licensed adjusters can get paid as low as $16 per hour, also adjusters working at a desk can earn over $1,000 per day. Field adjusters can earn close to $100k in one month inspecting homes after a hurricane. This doesn’t mean you will make only $16 an hour starting out and it also doesn’t mean you will make $100k per month on your first assignment
The opportunity to earn money is there and it’s just waiting for someone like you.
Earn 6-Figures With No College Degree or Previous Experience
Insurance adjusting is a recession-proof career
Insurance adjusting is a high-paying career that you can enter with a relatively small investment. The field is also growing, which means it’s a great time to enter the profession.
The work of an insurance adjuster is to investigate insurance claims. This includes going out to the location of a claim and inspecting the damaged property. Adjusters might also interview witnesses and parties involved in the claim in order to determine what happened and how much should be paid out by the insurance company. Then they write up their findings and make a recommendation to the insurance company about how much ought to be paid out on the claim.
Adjusters may also negotiate with claimants and attorneys during this process, as well as manage their own caseloads (although those who are just getting started might not have responsibility for multiple claims at once).
Insurance adjusters must be licensed by the state in which they work, which generally means passing an exam after completing some formal training. A college degree isn’t required, but a background in business or law can provide valuable expertise for this type of work.
While many people think of insurance adjusting as a temporary career — something you do only until something better comes along — it can actually be quite lucrative if you are able to attain your license early on.
The key to success in an insurance claims career is education and training
The insurance industry is experiencing an adjustment talent shortage. Insurance companies are having a tough time filling positions for field adjusters, property appraisers, and total loss specialists. If you’re considering transitioning into this career field there is no better time than now to get started.
The key to success in any career is education and training. With the right knowledge, you can avoid the pitfalls of learning on the job. In the insurance claims adjusting business, you will be expected to quickly acquire a broad-based knowledge of accounting, property law, and insurance policy coverage.
If you’re just starting out in your career as an adjuster it’s important that you first complete one of the many online courses offered by insurance adjusting schools. These courses will provide you with a foundational knowledge of insurance policy coverage, common terms and definitions, insurance policies, and law.
Next, depending on your interest, area of specialty, or location, you may want to consider taking several more advanced classes that will give you an edge over other candidates applying for jobs at various insurance companies
Adjusters must go through a licensing process.
Licensed insurance adjusters are responsible for settling a variety of property and casualty claims. These claims involve situations in which a policyholder suffers the loss of personal property or physical damage to an insured vehicle or building. As part of the claims process, licensed insurance adjusters interview claimants, inspect the damaged property, and determine liability to negotiate a settlement that is fair for both the policyholder and the insurance company.
Insurance adjuster licenses are issued by state departments of insurance. Each state has its own requirements for licensing, but most include passing an exam, completing a certain amount of continuing education courses each year, and renewing the license periodically. State licenses are not transferable between states; an adjuster who moves must apply for licensure in the new state if he wishes to continue working as an adjuster there.
Adjusters who settle claims after major disasters such as hurricanes and floods must complete additional training through FEMA (the Federal Emergency Management Agency). This training is offered free of charge through local community colleges or other agencies designated by FEMA.
Adjusters have lots of opportunities to earn extra money
It is a fact that adjusters are paid more during the busy season. So if you work on a per-day basis, you can make much more money in a short period of time.
If you work for companies that pay by the claim, then your income will be limited by how many claims you can handle and complete in an efficient manner. So if you want to make more money as an adjuster, then it is important to learn how to handle a high volume of claims and complete them efficiently.
Adjusters often have lots of opportunities for overtime, particularly during storm season. Each major hurricane presents a surge in claims volume that can last for weeks or even months. The same is true for tornadoes and other severe weather events.
Even an average thunderstorm can mean a busy day for an adjuster, because it may impact hundreds or even thousands of policyholders. During an emergency, people who want to file claims want to do so immediately, so insurers often prefer to send adjusters on-site as quickly as possible.
In addition to overtime pay, adjusters sometimes get extra income through commissions and bonuses. These are earned through meeting or exceeding performance benchmarks, such as the number of claims processed per month or the accuracy rate with which they’re settled. Some companies also offer bonuses based on individual and team performance.
Adjusters can work anywhere they want
As an independent adjuster, you can go anywhere in the US and make big money. The only limiting factor is how much time you want to spend on the road. This means you can get paid while traveling to beautiful tropical locations like Hawaii or the Bahamas.
Final Thoughts on Insurance Adjusting
Start your insurance adjusting career now! Stop waiting. Don’t fall victim to the “dream killer” that comes with fear of the unknown. You will succeed in this career if you are willing to work hard, but more importantly, you can succeed because you can become a trusted advisor to your clients and exceed their expectations. Most of all, you will change their lives in ways they never thought possible — and that is awesome! If you have any questions or thoughts, please feel free to leave them below in the comments section. I am happy to help anyone who wants to start a new career, even if it is not in insurance adjusting because there are so many rewarding careers out there for those who are willing and ready to take action.
About the Course Creator
In the last 5 years as an Insurance Adjuster, Stephen Storey has worked on 20+ different assignments all across the United States and Canada. He’s handled thousands of claims ranging from hail damaged roofs, to flooded out Ferrari’s.
He has also earned over $100k each of the years that he has been an Independent Insurance Adjuster and he want to show you how you can have a profitable career as in the Independent Insurance Adjusting Industry.