What Does A Claims Adjuster Do?
Do you know a good paying job that does not require a degree? Are you wondering what an insurance claims adjuster is, or what does an insurance adjuster really do? Well, most people don’t know what an adjuster is, or what they do. Some don’t even know they exist! Yeah, really!
We are going to explain everything you need to know about the work that a claims adjuster does in the following article. Ready? Let’s start!
Let’s assume a scenario. If you ever get into a car accident and you have your car insurance, you will surely call the insurance company and let them know about your loss.
Now, they will either send you to an adjuster or they will put you in touch with someone who can call an adjuster. An adjuster will take a look at your insurance policy and then he or she will take a look at your damage, and will look if the policy covers the damage.
There may be some cases like if an Uber driver has limited liability on their car and did not put its car in business policy, the insurance will not cover that if an accident happens. Another thing that an adjuster will look at is the contract which is ‘how much they will owe you for your damages’. Because there is a maximum amount that they will pay. Some areas, like in the state of Georgia will have 25%-50% limits in the policy.
This means that if you have an accident that caused property damage, they will pay you $25,000 for that property damage. If you have hurt somebody, they will pay you $25,000 with a total of $50,000 for all personal injury damages in that accident. This means, if you hurt five people in the other car or if you have five people in your car including yourself that were injured, each of them will be paid $10,000 but you will be on the hook for an extra five.
But insurance is good because who has a thousand dollars stored in the bank, right?
The thing you need to do as an adjuster is, you will look at the policy and you will look if the policy covers the damages. The insurance covers more than cars. Homes have policies, businesses have policies, and farms have policies. Even the crops have policies. The machines in the factories have policies, the ships that sail have a policy. Policy, policy everywhere, but all those exist for a reason.
There are also medical policies. For instance, your son is in a football game and breaks somebody’s arm, those other parents might sue you or ask you for the damages done to their son. Insurance can help you with that too! The insurance helps when a storm happens and ice is rolling and you slip and fall.
There is nothing in the USA that happens without insurance! Even if somebody hits his car without insurance, to your insured car, you will be benefited here also. Isn’t that amazing!?
How Much Do Claims Adjusters Get Paid?
This is the question that mainly people ask. Trust me, you’re not alone. This is the real deal after all.
Typically, adjusters make $25 an hour and property adjusters tend to make $37 or $50 an hour. Similarly, if you work in an outdoor field you will make more and they have a rating scale for that.
That’s why, so many people want to become an adjuster because the money is really good and the barriers of entry are relatively low, which means you don’t have to go to college. Although some companies do require some kind of degree or experience, almost every state requires an exam. And that’s where people tend to get tripped up because the exam is not that easy to pass.
Almost 40% of the people pass in Texas. In Georgia, the percentage of people who pass the exam is 64%. Also, some states require a designated home. But Georgia is the best option because the pass rate is better here. It is much easier to get the Georgia exam or the Georgia license. In Florida, you have to book an appointment and there is a fingerprinting that you have to do, as well.
In some states, you have to take the 40 hours course also. There are too many scenarios in the Florida exam and there are too many ways to get in it. But in Georgia there are only three steps:
- Take 40 hours course and pass the exam
- Get your license
- Start your work
CAN YOU BE A CLAIMS ADJUSTER?
An adjuster is the face of the company. It is a good paying job that does not require a degree. When a home suffers a loss or when somebody is involved in a car accident, the company wants someone with good customer service and good customer handling. They want someone who can handle their customer very professionally so that the customer stays with them after a loss. An adjuster will look at the policy and the policy will determine everything. Sounds like something you can handle properly? If yes, then surely you can be an adjuster!
We hope this article have helped you a lot. If you want to know more, read this article and watch the video below: