What is an Independent Insurance Adjuster Job?
An independent insurance adjuster job is a career in which an individual inspects and evaluates claims made by insurance policyholders. These professionals work as independent contractors and are hired by insurance companies to investigate and report on the validity of claims made by policyholders.
What Usually Do in this Position?
The primary responsibility of an independent insurance adjuster is to investigate and evaluate claims made by insurance policyholders. They often have to visit the site of an accident or damage to assess the extent of the loss and determine the amount of compensation that the policyholder is entitled to.
They also have to communicate with the policyholders, witnesses, and other individuals involved in the claim to gather information and evidence. Based on their investigation, they prepare detailed reports that are used by the insurance company to determine the validity of the claim and the amount of compensation that should be paid.
Top 5 Skills for Position
- Strong analytical and problem-solving skills
- Excellent communication and interpersonal skills
- Attention to detail and accuracy
- Ability to work independently and manage time effectively
- Knowledge of insurance policies and regulations
How to Become This Type of Specialist
To become an independent insurance adjuster, you need to have a high school diploma or equivalent. Some employers may require a bachelor's degree in a related field such as business, finance, or accounting.
You also need to obtain a license from your state's insurance department to work as an insurance adjuster. The licensing requirements may vary from state to state, but generally, you need to complete a training program and pass an exam to obtain the license.
It's also important to gain experience in the insurance industry by working in entry-level positions such as claims adjuster or insurance agent before pursuing a career as an independent insurance adjuster.
Average Salary
According to the Bureau of Labor Statistics, the median annual salary for insurance adjusters, examiners, and investigators was $67,680 as of May 2020. The salary range for independent insurance adjusters may vary depending on their level of experience, location, and the type of claims they handle.
Roles and Types
Independent insurance adjusters can specialize in different types of claims such as property damage, liability, workers' compensation, and auto insurance claims. They may also work with different types of clients such as insurance companies, self-insured businesses, and government agencies.
Some independent insurance adjusters may also specialize in handling claims related to natural disasters such as hurricanes, floods, and wildfires. They may work on a temporary basis in areas that have been affected by these disasters to help policyholders file claims and receive compensation.
Locations with the Most Popular Jobs in USA
The states with the highest employment levels for insurance adjusters, examiners, and investigators as of May 2020 were:
- Texas
- California
- Florida
- New York
- Illinois
What are the Typical Tools
Independent insurance adjusters typically use a variety of tools and technologies to perform their job duties. These may include:
- Mobile devices and apps to collect and transmit data
- Measuring tools such as laser measuring devices and tape measures
- Cameras and video equipment to document the damage
- Computers and software to manage claims and prepare reports
- Communication tools such as phones and email to stay in touch with clients and other stakeholders
In Conclusion
Independent insurance adjusters play a crucial role in the insurance industry by ensuring that policyholders receive the compensation they are entitled to. If you are interested in pursuing a career in this field, it's important to have strong analytical, communication, and problem-solving skills, as well as a solid understanding of insurance policies and regulations. With the right training and experience, you can build a successful career as an independent insurance adjuster.