How to Become a Successful Independent Insurance Claims Adjuster

There are a few jobs in the world that it is just obvious they will always be in high demand. Nurses and doctors. IT technicians. Accountants. But who would think to put insurance claims adjusters on that list? The truth is that the demand for Insurance Adjusters, Examiners, and Investigators is expected to continue to rise. Estimates suggest there will be 24,340 new jobs that need to be filled in the United States alone by 2029. That represents a 0.94 % annual increase over the next few years. So, why will insurance claims adjusters always be in high demand? Let’s take a closer look at some of the reasons why this industry has such stability. 

A key reason that insurance claims adjusters will always be in high demand is because of what they do. Simply put, as long as there are insurance claims, there will be adjusters to manage those claims. Every claim needs a liaison to work directly with the policyholder and provide the insurer with a recommendation. The insurance claims adjuster compares the policy provisions to the details of the claimant’s loss to determine the validity of the claim. Then, they determine what the payout should be.

Insurance claims adjusters who work with property claims are called in by the insurers after property damage. They contact individual policyholders after suffering damage to their property like fires or floods. These losses are specific to that person’s belongings. 

Some property adjusters work on CAT claims. These are property damage claims in situations where there has been a catastrophe, like a hurricane or a tornado. The claims adjuster works on several claims in the affected region, usually all at once. This typically requires travelling to the site of the disaster to meet with policyholders and assess damage in person. 

Insurance claims adjusters who work with auto claims deal with vehicle accidents through car insurance policies. They investigate the nature of the vehicle(s) damaged and any injuries. The adjuster determines the amount of coverage applicable to the loss and negotiates with the policyholder to finalize the payout of the claim.

Many independent insurance claims adjusters work on both property and auto insurance claims, especially at the beginning of their careers. This allows for a broad opportunity to secure work. Over time, many adjusters find they end up specializing in specific types of claims. Sometimes they choose these deliberately because they like the work required. Other times adjusters simply find that they are called upon by insurers to do certain types of work more frequently. 

There are three varieties of insurance claims adjusters based on who hires them.

1. Company adjusters work full-time for one insurance company. They work in-house, adjusting claims and earning a salary. They tend to earn less than the other types of adjusters ($45k to $80k). Still, they choose this route because of the security that comes with the salary and benefits packages. 

2. Independent adjusters work for several different insurers. We recommend registering with more than 20 different insurers to ensure ongoing work and high commissions. The potential earnings are upwards of $300k/year, with most averaging between $80k and $150k. The insurance companies hire these independent adjusters to work the same types of claims as their in-house company adjusters, but on a contract basis. The independent adjuster works as a liaison between the insurer and the policyholder, but they work for the insurance company. 

3. Public adjusters work for policyholders. Claimants hire these independent adjusters directly when they are dissatisfied with the insurance company’s offer to settle their claim. They negotiate with the insurer, but they work for (and get paid by) the policyholder. 

Insurance claims adjusters always work as a liaison between the insurance company and the policyholder. 

There is no question that there will always be insurance claims, so the industry is stable. But is there a current demand for more new independent insurance claims adjusters? The answer to this is a resounding “yes,” and here’s why. 

Many insurance claims require the attention of a field adjuster. This is someone who goes to the scene of the damage to make an assessment. Although technology is making climbing on roofs less necessary, many still consider a certain level of physical fitness a requirement for these assignments. 

Right now, 63% of insurance adjusters are 44 years old or over. That means that many are retiring out of the industry altogether soon or are choosing to move into desk adjuster jobs. Desk adjuster jobs tend to have more remote work on smaller claims that do not require on-site assessments. 

In addition, new estimation and assessment technology are being used by insurers across the nation. As these insurance companies require that adjusters use these programs, many younger, more tech-savvy adjusters find they get more work. While it is difficult to compete with those who have more experience in other industries, this new technology makes it easier for new people to do better, sooner. 

We can’t know exactly what climate change will do around the world. But experts suggest that even subtle changes in climate can make a difference in both property and auto insurance claims. Higher winds, more frequent and severe storms make for more property damage and car accidents nationwide. 

There is no question that the insurance industry itself is stable. Insurance companies continue to sell policies to policyholders. Claims continue to come on for any kids of loss that is covered by insurance. And as long as there are claims, there must be adjusters. Exactly how claims will be adjusted as technology moves ahead is bound to change in the future. Still, there is certainly no shortage of work. 

Contact us for more information about how you can become an independent insurance claims adjuster in just a few weeks. No college degree required.