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INSURANCE ADJUSTER PAY OR CLAIMS ADJUSTER SALARY

Claims Adjuster Salary - Earn $60,000 or more per year

Insurance Adjuster Pay! Wanna know? …

Really! How much can be the Insurance Adjuster Pay or Claims Adjuster Salary? After reading this blog, you will know how much an Insurance Adjuster Pay and can calculate how much an Independent Adjuster can make per year?

When a disaster hits, the Insurance Adjusters are the professional loss experts, inspect damaged property and establish how much should the insurance company pay? The secret lies on how many claims Insurance Adjuster handle in a day.

 

How to determine Independent Insurance Adjuster Pay?

After the strike of disaster such as Florence Hurricane, the Insurance Adjusters inspect damages. You should understand that no guarantees can be given when it comes to independent adjusting.

The pay varies because of different factors. You may get paid on hourly or salary basis. Sometimes it will pay hourly, If working on salary, you need not to worry about CAT deployments pay changes. Typically, you will be expected to work that CAT at the same rate. However, bonuses are paid – sometimes. Whereas, Independent adjusting will pay be the percentage per claim.

Independent Insurance Adjuster Pay

Getting more you may want to get paid on fee basis that enables you to get a percentage of each claim.

Let us understand how it works?

If you work as a CAT Adjuster there will an hourly rate. In auto claim adjusting, there is s pay rate of $25/hour & you work 70-80 hours a week. For property field, its $37.25/hr w/ an overtime payment & you work 70-80 hours a week.

In property field (ropes and harness) you are expecting $42.50/hr with overtime payment and have to work 70-80 hours/week. Lastly, the Desk Adjuster gets $37.50/hour w/ 70-80 hours work in a week.

How Fee Schedule Works?

NFIP fee schedules demonstrates that if the claim reaches certain amount, the claim adjuster company would receive a fee, which is mentioned in the NFIP fee schedule. It will help to determine the Insurance Adjuster Pay.

 

Insurance Adjuster Fee Schedule

 

Normally as per FEMA, Average Flood Claim to be $52000 by NFIP and property claims most likely 80 % is generated from the roof claims. The adjustment work begins from identifying the roof that the firm changes or fixes. It could be a damaged roof, has ceiling leaking, or has rain gutters.

 

Insurance Adjuster Pay
Insurance Adjuster Pay

For example:

Average Property Claim Average Flood claim
If claim amount is $ 10000

Fee amount is $ 1035

(60 % will go to Adjuster and

40 % to Insurance Adjuster Firm)

As adjuster, you will get

1035 x 0.6 = $621 (Per claim)

If claim amount is $52000

Fee amount is 3.4%

(60 % will go to Adjuster, which is equal to 2.04 and

40 % to Insurance Adjuster Firm)

As adjuster, you will get

52000 x 2.04% = $1060.80 (Per claim)

 

Typically, you will be handling approximately three claims in a day, so you can figure out how much will an independent claims adjuster salary be?

 

Here is the link to a YouTube video of Ebahi, a Professional Independent Insurance Adjuster. She has very well explained how to calculate Insurance Adjuster Pay.

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Problems Becoming An Adjuster? These one-of-a-kind blogs were made by adjusters for adjusters. Especially, new adjusters who eagerly want to enjoy life by becoming an adjuster. 

"Becoming a claims adjuster is life-changing. It's no wonder it's been a well-kept career secret for centuries. My job is easy now. It's such a lucrative career and I love helping people."
Insurance adjuster training staff
Mari Clark
Major Adjuster