An insurance adjuster (or insurance claim adjuster) is someone who investigates insurance claims to determine how much (or if) an insurance company should pay when damages or losses occur that are covered by their insurance policy. They determine how much an insurance company should pay when a person makes a claim based on the circumstances and the terms of the policy.
Insurance claim adjusters can either be in-house reps or independent people hired by your insurer or even the policyholder. They investigate insurance claims related to bodily injury, medical bills and property damage among others. Insurance adjusters help decide on a fair settlement, by:
• Speaking with the insured party
• Assessing damages
• Speaking with witnesses
• Reading reports by public officials
Insurance adjusters gather evidence such as photographs, statements from people directly involved in the events related to the claim and opinions from relevant experts. The insurance adjuster will make a recommendation based on this information about the amount the insurer should pay to provide a fair settlement. The work can be interesting and varied and there is opportunity to specialize in specific areas of insurance (marine, aviation, personal and so on).
If you want to become an insurance adjuster you must have completed a high school diploma or GED equivalent. An associate or bachelor’s degree is more attractive to some employers but is not required.
In many states you will need take a course and pass a licensing exam to become an insurance adjuster. While there are states where this is not required it is best to become licensed so that you can work throughout the country. You can do this by applying for a DHS (Designated Home State) license if you work in a state that does not require a license. You nominate a state where it is required and gain your license there for the purposes of accreditation. You will also have to undertake continuing education (available online) to gain credits which are used when renewing a license.
A career in insurance adjustment is an interesting and varied one and is relatively well paid. It is not unusual for insurance adjusters to make more than $100,000 in relatively junior role and the more experience an adjuster has, and the larger the claims they work on, the more money they can make ranging into the high six figures. While insurance adjusters can work 9 to 5 jobs they can also work on contract or on a success fee basis making the role highly flexible.
