"Insurance Adjuster Salary | How Catastrophe Adjusters Get Paid"
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- เผยแพร่เมื่อ 5 มิ.ย. 2024
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Wondering how much you can make as an independent insurance adjuster? I break down exactly HOW catastrophe adjusters get paid and what sort of income you can expect to earn as a new and experienced property adjuster handling claims.
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Here's what I'm NOT hearing much of on TH-cam regarding claims adjusting. First, you should enter this field with eyes wide open and know what it's going to take to succeed starting out. Too many people hype the great money and the advantages of being an IA, but either rarely or never bring up what it's going to take to actually start getting calls from the agencies. I think some excellent points to make to someone considering a career in CAT claims adjusting would be:
1. You aren't going to immediately start making all those big bucks for a long time (unless a Cat 4 or 5 hurricane just hit the U.S.); it's going to take a while to build up experience to the degree that you'll be called on a regular basis (the 5, 10, 15, and 20+ year veterans are going to be called first, every time).
2. You're going to need 5-7 licenses, minimum, to even be considered for a call (your home state license, then the other five "big state" licenses that are in so much demand - like Texas, Florida, Indiana, etc.); add in a must-have State Farm license, a preferred flood license, then Xactimate training ($) and subsequent certification ($), and so on. You'll be looking at close to a thousand dollars (or more) in certs, classes, and fees before you're "ready" to be marketed. Many people just starting out have these in hand and are *still* waiting to get called for work. *Experience* is king - not certs and licenses.
3. You'll have spent a LOT of money getting these licenses, certifications, and training before you ever begin making money as an IA.
4. Before your first deployment, you're going to FIRST need to save up at least three months of living expenses, along with shelling out a significant amount for tools, shoes, equipment, lodging, gas, etc, etc.
5. Even after getting licensed, with zero experience you may not get a call for a deployment for weeks or even months, until someone decides to take a chance on you. You'll need your regular job in the meantime.
6. You may have to get a lowly job (i.e. low-paying) as a photo-taker, staff claims adjuster, ride-along volunteer, etc, just to know what to do when you actually get called to a site. Let's face it, a claims adjuster license doesn't tell you how to mark a roof for hail damage or how to evaluate drywall for water damage.
7. Getting into the IA field is a lot like starting college; the tuition and fees will be breathtaking. But ultimately, if you can hold out long enough financially and wait long enough until you get enough calls to change careers, it will pay off.
8. Unless you personally know a claims adjuster, it's going to be difficult getting specific answers to a lot of questions you have. You can't just call up an insurance company and get a claims adjuster on the phone to talk to you. Realize this and know that it's going to take a while and a lot of online research to figure out everything you need to do and obtain to get started, so don't get frustrated.
1. You aren't going to immediately start making all those big bucks for a long time (unless a Cat 4 or 5 hurricane just hit the U.S.); it's going to take a while to build up experience to the degree that you'll be called on a regular basis (the 5, 10, 15, and 20+ year veterans are going to be called first, every time).
- yes absolutely true. Once they're all deployed, the newbies will have to step up. Big events equal big deployments.
2. You're going to need 5-7 licenses, minimum, to even be considered for a call (your home state license, then the other five "big state" licenses that are in so much demand - like Texas, Florida, Indiana, etc.); add in a must-have State Farm license, a preferred flood license, then Xactimate training ($) and subsequent certification ($), and so on. You'll be looking at close to a thousand dollars (or more) in certs, classes, and fees before you're "ready" to be marketed. Many people just starting out have these in hand and are still waiting to get called for work. Experience is king - not certs and licenses.
- I will always maintain that an adjuster can have all the certs and licenses in the world, but their first deployment is their REAL resume.
3. You'll have spent a LOT of money getting these licenses, certifications, and training before you ever begin making money as an IA.
- yes 100% It's not a get-rich-quick career at all.
4. Before your first deployment, you're going to FIRST need to save up at least three months of living expenses, along with shelling out a significant amount for tools, shoes, equipment, lodging, gas, etc, etc.
- amen. Save up a pile before even considering this.
5. Even after getting licensed, with zero experience you may not get a call for a deployment for weeks or even months, until someone decides to take a chance on you. You'll need your regular job in the meantime.
- also amen. Newbs can get started in auto claims at iapath.com and be working right away.
6. You may have to get a lowly job (i.e. low-paying) as a photo-taker, staff claims adjuster, ride-along volunteer, etc, just to know what to do when you actually get called to a site. Let's face it, a claims adjuster license doesn't tell you how to mark a roof for hail damage or how to evaluate drywall for water damage.
- a license definitely doesn't do tell you how to handle a claim (ironic). But adjustertvplus.com does. Watch free for 7 days and if you think it sucks, cancel and pay nothing.
7. Getting into the IA field is a lot like starting college; the tuition and fees will be breathtaking. But ultimately, if you can hold out long enough financially and wait long enough until you get enough calls to change careers, it will pay off.
- amen to this as well. A person has to have faith that this is REAL. It is real. But the money only comes with very hard work and hanging in there longer than the next person.
8. Unless you personally know a claims adjuster, it's going to be difficult getting specific answers to a lot of questions you have. You can't just call up an insurance company and get a claims adjuster on the phone to talk to you. Realize this and know that it's going to take a while and a lot of online research to figure out everything you need to do and obtain to get started, so don't get frustrated.
- you can reach out to me - I've been a cat property adjuster since 1999 - at adjustertv.com/contact Shit's busy right now and firms are looking for fresh talent. Let's do this.
Is this a fake comment lol
Thank you for sharing this
@@PPCCO. lol right
Good! I was starting to re-watch old videos lol. Thanks Mat, you are great.
You're welcome!
Great information! My husband and I are looking into doing this together! Thanks for sharing
Glad it was helpful! Feel free to reach out if you've got specific questions: adjustertv.com/contact
Hey! Just wanted to leave a comment to thank you for these videos. My company has me on a three LOB rotation in Prop/WC/GL as a desk adjuster. I finished my prop rotation back in Dec but always wanted to see perspective of a field adjuster.
Very good video. Thanks!
Your videos are so helpful! Im new to all this and I've already reached out to the major 4 AI firms and many more! Im in south Florida so hurricane season it's technically over but now im just applying for local jobs to gain experience and be able to pay for additional certifications. Also thanks for the podcast info :)
You got it! Also check out iapath.com for Chris's podcast as well.
Howdy! What would happen if there’s no damages to the property as far as getting paid? If the amount you get is based off of the amount of damages and there’s no damages or damages below the deductible amount ( let’s say under $1000 ) is your pay still based off that?
Edit: never mind I re watched and you answered that question lol. Great video!
Lemme tell ya brother. OneCall claims was DUMPING claims on me during Harvey. It was my first deployment, my supervisor didn't know what to think of me at first, after a while I just couldn't keep going. If you do your job well and (during Harvey) adjusters were dropping like flies) they will give you the work. I started with 2 claims a day, after a couple weeks clocking around four. But after MONTHS of being on deployment you start to get tired, I was handed a lot of "Re-inspections" after a while and I just couldn't do it anymore. It was a great experience, I loved it, but being (the guy) has some serious downsides.
@@Joshua-le1vn I dont no.
@@Joshua-le1vn a few reasons. I moved to Michigan. Really and truly I did claims during CAT’s. Kind of just fell out of it with Covid. Still love it though. I can’t drive through a neighborhood without looking at roof pitch. I just got exhausted, your entire day from breakfast to bedtime prayers becomes scoping and writing. In a family full of insurance professionals it seems to be the same story. The money is good but it is a very demanding field.
Hello! Where can i get my insurance adjuster license? Thank you
How frequently, or on what time basis, can a deployed CAT IA expect to be paid while in the field?
can you get your license and get a job as an insurance adjuster if you have a petit theft misdemeanor that happened in 2018 when I was 19 years old? Im 23 now and I have not had any offense since and I have a college degree from University of Florida
Hi Matt! For people just starting out in this industry, how much money would you say they need to have saved in order to survive the “newbie” stage of this career ?
As much as possible, but no less than 6 months of living expenses plus training, travel, and first storm expenses probably totaling at least $5k. To be safe.
What license do you need to do cat claims?
Just run across your vid by accident. I spent 34 years adjusting claims. I worked Hurricanes Andrew, Katrina and many more wirh names that are forgotten. I have worked as an independent and staff. First there are 2 kinds of adjusters. You have Santa Claus adjusters and you have Grinch adjusters. I retired 12 years ago. I loved the job but management became to much to tolerate.
Hi Alan. Who is typically more successful in the industry? Santa Claus adjusters or Grinch adjusters?
@@catieandthebopeeps Grinch adjusters move up into management and hassle the Santa Claus adjusters usually. Its a thankless, long hours job but the payoff is the helping people in their darkest times. Especially Hurricanes. If you join the group you will be wirh an elite group of mostly fine people.
The grinch is trying to steal my joy
@@suhwateezea.214 squeeze back!!
@@alandavis9644 I'm trying but they're definitely widdling me down overtime. I've been in the game for 6 years but have been on a brutal losing streak lately.
Love the ending! Hahaha!
lol thanks Steph!
Any tips for someone graduating high school and looking to get into this?
Oh man. So many ways to go. In order to be good at this, a person needs some construction knowledge - whether that's gained through self-study or doing actual restoration work or selling for a restoration construction company. If you have a BA in something - business, for example, you could then jump straight into a career path at a major carrier and probably have a pretty nice early retirement from an upper level mgmt position.
Strictly speaking you can take the same IA career path as anybody else who's older and probably do just fine. Either way, you're in a great position for a long and lucrative career if you can stick with it.
I think for now, I would FOR SURE get started in auto claims. You can almost start immediately making money with it - iapath.com is where you should start. Feel free to email me if you've got questions: adjustertv.com/contact
BANGER
Yeah, man! Especially if you mean, "bangers and mash."
anyone can train me to become a adjuster? thanks
I'm from the phillippines
Hi matt. where did you get that estimate from? I might think the price is only for your area.. your estimate doesn't apply in my country at all. So maybe you should review the loss adjuster salary in other areas as well, such like in South Asia..
Btw, I really like watching your channel, because it's very motivating..
I know nothing about other countries besides the US and Canada. So I can only speak for those areas:)
Omg this is a amazing
Thanks, Ericka!
Do you hire/train?
Are you a video editor?? ;)
@@AdjusterTV lol. Nope
@@AdjusterTV I'm actually a video editor! Let's talk!
7 claims a day is a joke maby once a week if your lucky.
You need an A rating to get check writing privilege, even that it stops at 25k.
A new adjuster might get 5k check authority. This pushes everything back.
Your new adjuster will not make 100k+ a year without a rating.
I think a rating is really only for Allstate, isn't it? Also, what's so funny about 7 a day?
I made $100k my first year, without an A rating.
Matthew Flores as an independent or staff? Looking to where to start..
@@ov02002 Independent. Try Pilot, EA - Renfroe, Eberls, Pacesetters are good to start with.
Matthew Flores is this with no prior experience? I have no experience with much tbh. I’m a sped teacher who is burnt out and looking for a way out. Can I message you w some basic questions?
You know what kills me? How little we are trusted. I have tried to explain on some youtube videos "We aren't trying to cheat you, the more YOU get paid the more I get paid" and I just get a tsunami of contractors and homeowners belaying the insurance industry at large because they saw a video of some garbage adjuster on a roof arguing with a knowledgeable contractor. It's a matter of education, the average person, the insured, just doesnt understand how insurance works, or that they are protected by the law and they can ABSOLUTELY trust the adjuster or else the adjuster could face serous penalty.
I hate that the average American distrusts adjusters. I love this industry and it kills me that "we" try to be the best we can in the aftermath of the insureds loss but are painted as crooks.
Can we see some videos of you on the job or did you just read about adjusters and decide to try to make videos to get paid by TH-cam
Wonder if they would believe the " hey bud how that happen the wall " ?
A guy told me he did $100k a month in the Florida keys after hurricane Irma. So was he full of shit?
He likely was not full of it. He may not have done that for more than a month or two. But a lot of people made insane money on that event. It's real. But it's also not common so don't think that that kind of money is normal.
Adjuster TV thank you for your reply. I’m about to leave for my first deployment which happens to be rope and harness. Do you have any experience with rope and harness claims?
@@gabrielmcnulty8026 You mean steep and high? Typically you'll either help adjusters access high or dangerous roofs or you'll access the roofs for them and photograph and scope the roof. Pretty straightforward. You going with an IA firm or a ladder assist company like Hancock?
Adjuster TV Adjuster TV never heard of referred to as steep and high but I suppose it’s the same thing. I had to complete a course to get certified to use the rope and harness for insurance claims. I’m going with an IA firm. To my knowledge I will be working alone.
@@gabrielmcnulty8026 Are you doing only rope and harness? Or do you have full claims?