Insurance Adjuster

Insurance adjuster jobs offer enough variety to keep things interesting, an excellent ratio of office and fieldwork, and a highly competitive salary. Furthermore, in 16 US states, you’ll only need a high-school diploma or GED to qualify for this job, while in others, you’ll also need an easy-to-obtain license. As an adjuster, you can work either as the staff member of a major insurance company or, if you prefer more freedom, as an independent contractor.   

Coupled with high job satisfaction and a stable outlook, this career has a lot to offer. If we’ve piqued your interest, check out the top adjuster jobs below or read on to learn more about this profession. 

The Latest Claims Adjuster Jobs 

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What Is an Insurance Adjuster?

An adjuster investigates claims and determines how much an insurance company owes to the party that suffered damage. They might work directly for the insurer, work for a company as a contractor, or be hired by customers who think they were treated unfairly.

They most often investigate property damage or minor car crashes, but dealing with health-related claims is not unusual. When handling claims, an adjuster typically does the following:

  • Interviews witnesses
  • Reads official reports
  • Investigates accident scenes
  • Consults with experts
  • Consults the insurance policy to determine what’s covered

Once the insurance claim adjuster completes their investigation, they’ll decide if the claim is valid and what the payment should be. After that, a claims examiner will take over. Their role is to review the entire case, making sure that all parties have followed the proper protocols and that the final verdict meets the insurance company’s guidelines.

An adjuster may work directly for the insurance company (Staff Claims Adjuster) or for an independent enterprise that the insurance company contracts (Independent Claims Adjuster).

How to Become an Insurance Claims Adjuster

The first step is to complete the required education, which is typically a high school diploma or GED equivalent. Many employers prefer candidates with an associate’s or bachelor’s degree, but it’s not officially required to become licensed. 

Once you’re done with that, you’ll likely have to take a course and pass an exam to become a licensed insurance claims adjuster. However, 16 states at the moment don’t require adjusters to have any special permit. Nonetheless, if you want to operate in a state that requires a license, it’s optimal to pass the exams in your home state first. 

After a time, you’ll probably need to take additional courses to achieve license renewal credits. Continuing education (CE) credits can be obtained either by studying online coursework or attending live classes. On some occasions, you can even earn credits by training employees, publishing articles on insurance, or giving lectures.

How Much Do Claims Adjusters Earn? 

According to Payscale.com, the average annual salary of an adjuster is $51,785. A novice adjuster typically has a salary in the $35K range, while an industry veteran can make about $75K per year. In addition to that sum, bonuses, profit sharing, and commissions can all amount to $10K annually but are typically in $3K–$6K range.

Compared to other insurance jobs, a claim adjuster earns considerably more than agents and sales representatives, but they are beaten out by underwriters, insurance fraud investigators, actuaries, and financial analysts.

When contrasted with the entire US working population, an adjuster earns $4,725 more than the overall national average, and $13,357 more than the median value for the same level of education.

Insurance Adjuster Job Satisfaction and Outlook

According to the survey by ClaimsJournal.com, job satisfaction among adjusters is astonishingly high. Out of all the independent adjusters who participated, 88% said that they relish working for their current company. When it comes to staff adjusters, that number was 84%. Additionally, 91% of those in management positions reported they enjoy working in the insurance industry. 

These results are somewhat surprising given that insurance adjuster jobs often require long hours since the majority of insurance companies are understaffed. According to the same survey, 38% of adjusters reported working 41 to 45 hours weekly. 

Additionally, the majority of people employed in the industry aren’t worried that economic shifts or advancing technologies might increase the chances of them losing their job. 

Recent research by the Insurance Information Institute also confirms that claims adjuster jobs will continue to be plentiful. In 2018, employment in independent claims adjusting rose by 2.6% compared to 2017. 

However, there are some reasons for concern. The majority of adjusters are a little older, aged between 51 and 60, and some even postpone their retirement to stay in the industry. It seems that millennials and Gen Xers are not thrilled by a job that mostly consists of working in a cubicle, handling far too many files every day.

However, they might be missing out. With high job satisfaction and a decent outlook, insurance claims adjuster jobs are worth investigating. And the fact that some companies allow you to work from the comfort of your home after the first year is the cherry on top. 

Bottom Line 

Out of all jobs in the insurance industry, that of an adjuster is perhaps the highest paying and most exciting compared to how much education and extra training it requires.

Additionally, people from various backgrounds can enter this profession, and within the field, there’s enough variety to cater to multiple needs. For instance, if you like a more outdoorsy job, a career as an independent auto adjuster might be the one for you, whereas if you’re more of a stay-at-home (or office) type, you might like working as a staff adjuster. 

The outlook for insurance adjuster jobs is also positive, and satisfaction is high, meaning insurance jobs will appeal to many in the foreseeable future.