The majority of people know what insurance is, but may not understand its importance and how vital the careers are that come with it. Insurance is big business in today’s world, available for everything from cars, boats, planes, data, and even body parts.
Insurance policies result in insurance claims and that is where you come in as the potential claims adjuster. You may be asking yourself “what are the benefits to a career in the field of insurance adjusting?”. Continue reading to see a list of benefits you may find applicable.
1. Money
If you are interested in pursuing a career as an insurance adjuster, one of the most frequent questions asked is “how much money do adjusters earn?” The answer may surprise you. With the benefit of being a recession proof industry, insurance claims adjusters, with the right tools, can make upwards of six figures even if they are just starting out.
To give you an idea of the earning potential with an adjuster’s salary, look at hurricane claims. On a $15,000 claim an adjuster may take home between $400-$600. If you do three to four claims a day, six days a week, you are looking at over $10,000 a week. Depending on the fee schedule and loss amount, some claims can pay upwards of $1,500.
As you become more experienced you will garner more demand for your services and in turn better fee schedules.
2. Flexibility
Working as an insurance adjuster offers you freedom and flexibility, unlike most careers. As an independent adjuster, you are offered the freedom to choose the claims and companies you work with. You can be on a roster for multiple adjusting firms and handle claims from various insurance carriers.
With this amount of freedom and flexibility it means you can process claims when you see fit. With proper time management, you can balance your professional and personal life by creating your own schedule. If claims are managed in a timely manner, including investigations and all paperwork, you are free to be as flexible as you want with your scheduling.
3. Recession Proof
In the present economic climate, job stability has become an ever-growing necessity for employees across all industries. Most recently, the Covid-19 shutdown saw three million fewer people employed than before the pandemic. Loss occurs regardless of economic conditions, which in turn creates continuous opportunities for adjusters. A career in insurance adjusting provides much needed stability for employees and peace of mind for customers suffering loss that their claims will be managed in a timely fashion.
Insurance is a vital piece to our society. Individuals and businesses alike rely on it and lending institutions require it. Accidents and storms happen regardless of economic status, and with those accidents comes a plethora of adjusting jobs.
4. Help People in Time of Need
An overwhelming sense of pride and self-fulfillment can come from aiding others in times of great need. A career as an insurance adjuster can be enjoyable and rewarding in that sense.
As an adjuster you are given the opportunity to help people that have just suffered loss due to damage or theft. These unique situations place the adjuster as the point of contact for those affected. It is the adjuster’s job to collaborate with the victims to inspect the loss, assess damage, and help them recover.
5. Career Independence
Have yet to find a career that does not make you feel trapped? Or confined to a cubicle all day? Do you desire a more fulfilling career? Or one that offers more independence? A career as a claims adjuster can offer career freedom and independence that few others can match.
The lifestyle of a claims adjuster is not your typical 9-5 job where you punch in then punch out. This career offers diverse options for you to find what works best for your situation. You can tailor your schedule to fit your needs. You can choose what claims you work, schedule your inspections, and set your own time aside for paperwork and resolution. Provided you are completing your claims in the appropriate time frame, you are in control.
If you are searching for a rewarding career with great pay in a recession proof industry, insurance adjusting may be your answer. Insurance adjusting will provide you with career freedom and independence that few others can match.
6. Few Barriers to Entry
Insurance adjusting offers a lucrative career with few barriers to entry. For many people, spending years and countless dollars on an education to obtain a college degree is not a feasible path. This often leads to crippling debt and uncertainty that, despite a degree, employment may not be guaranteed after graduation.
Without an expensive degree, a career as an insurance adjuster offers a more appealing option. Most states only require a few conditions; be over the age of 18, hold a valid driver’s license, and pass a background check. You can then investigate licensing options, training, tools, and equipment you might need on the job. All this combined would be far less than the cost and time it would take to complete a typical four-year college education.
Cost Comparison
| Four Year College Education | Insurance Adjuster | |
| How Long Does It Take? | Four Years | Four Weeks |
| How Much Will It Cost? | Average cost of attendance for a student living on campus at a public 4-year-in-state institution: $102,828 | Rough estimate for start up including license, fees, and basic equipment: $5,000**Not including vehicle, cellphone, and laptop |
7. Travel
Catastrophes occur from coast to coast. Forest fires, floods, hailstorms, ice storms, and hurricanes are common occurrences and cause millions in damage each year. For the insurance industry, catastrophes like these mean the mass deployment of insurance adjusters from all over the country. For many, this gives the opportunity to travel the country and live the adventure of life on the road.
When disasters hit, adjusters are immediately deployed to the affected areas to assess damage and jumpstart the recovery process. Deployments are all different, some can last weeks while others, months or even years. It all depends on the severity of the damage and the amount of claims that need to be processed. As an adjuster, you are a vital component to the rebuilding process for those affected by catastrophes. The insured depends on the adjuster to relay the damage to the insurance companies so they can be rightfully compensated.
Most adjusters will fly or drive to their deployment and then book lodging. Most common forms of lodging would be hotel, motel, Airbnb, or stay with friends along the way. It is common for couples to travel the country together working claims as a team. Not many careers let you travel the country with your significant other, but CAT adjusting gives you the freedom to do so.
8. Work in Different Environments
Adjusting offers you flexibility that is unmatched by most others. As mentioned before, you are in control of determining the hours and days you work, but you can also determine the environment you work in.
As an insurance adjuster, you can choose if you would like to work from home or in the field. Desk adjusters have the responsibility of reviewing field adjusters documents, determining if the policy covers the damages, and occasionally issuing payment. Desk adjusters may also handle claims over the phone or via email. Field adjusters travel to the loss location, interact with the insured, and document all damages.
Adjusters have the freedom of choice to work claims locally or on the road. If staying close to home and family is important, or a necessity, working locally is the best option. Adjusting also gives you the option to travel the country, and work when you would like or when needed. Desk adjusters are able to work from just about anywhere, given they have access to the internet. Field adjusters that have connections with a broad range of firms may be able to pick up claims here and there to keep a cash flow going while traveling.
9. Interesting and Challenging
Once you have some experience under your belt as an insurance adjuster, you can choose from a wide variety of interesting paths. These options extend far beyond catastrophe claims into areas that might surprise you.
There is rewarding work as workers’ compensation adjusters and liability adjusters. Workers’ compensation adjusters look into claims to determine whether a claim is valid or fraudulent. Liability adjusters are responsible for investigating accident scenes, interviewing witnesses, and performing investigations for trials to determine who was responsible for the damages incurred.
There are also opportunities for specialization within the career scope. Examples of specialization in adjusting are aviation, marine, heavy machinery, and data security. The world of claims adjusting has a variety of interesting and challenging paths that you can choose to pursue.
A career as an insurance claims adjuster is an exciting new opportunity that you may be interested in pursuing. You have just been presented with a list of reasons why you should choose this career path. As you embark on this interesting and challenging journey Adjuster Media will be there to assist.
