Claims Adjusting/Claims Adjuster/Public Adjuster
A Rewarding Career.
Helping clients in need
Join the growing and exciting field of insurance
In general, there are two types of adjusters (this course satisfies the requirements for both): Staff Adjusters who are salaried employees of an insurance carrier, and Independent Adjusters who are independent contractors working for adjusting firms (the focus of this course).
HOW MUCH MONEY DOES AN INDEPENDENT CATASTROPHE ADJUSTER MAKE? (Based on the "NINE HOTTEST JOBS " article in Parade Magazine. The fifth hottest job in America is insurance adjusting with data provided by the Bureau of Labor Statistics and industry sources”.):
Your income will depend to a large degree upon how much you want to make – which means how hard you work. Some companies pay a daily rate (normally $600-800/day), but during a catastrophe, most pay on a “fee schedule” (a fee based upon the total amount of each claim). It is not unusual to average $400-600 per claim, and an efficient adjuster can turn in upwards of 3-5 claims per day. That’s $1200 to $3000 a day. These are not exaggerated numbers. On the conservative side, depending on an individual's work-ethic, professional Independent Adjusters will make anywhere from $20,000 to $150,000 working between 2-5 months a year. Like any other profession, it depends upon the adjuster, experience, skills, education, capabilities, availability, common sense, attitude, their willingness to work, the company that you work for, and how one is evaluated and trusted by superiors.
Making over $1,000 a day as an independent adjuster working catastrophe claims is common and very attainable. In this way, a good independent adjuster can surpass six figures income in less than six months.
The average annual salary for claims adjusters nationwide is $73,000, according to the Claims Journal 2013 Job & Salary Survey. The survey results are based on responses from 647 participants in 46 states during April and May 2013.
20 Hour Property and Casualty - Adjuster -
Instructor-led Class $550.00 ( EXCLUDES Workers Compensation and Crop).
Includes hard copy manual and online practice examinations
An adjuster will frequently verify that coverage applies through an insurance policy, investigate liability for the damages caused, and make compensation based on the physical property damages.
Many homeowners reach a fair settlement with the staff or independent adjuster they are working with. In the event, they do not, they can hire a public adjuster. Public adjusters claim that many homeowners do not collect all the money to which they are entitled due to a lack of familiarity with the claim process. The use of a public adjuster may mitigate this risk and could help put the policyholder on a more equal footing with the insurance companies, which increasingly use experts to support their side of a claim settlement. Public adjusters charge for their services, the standard rate is 10% of your claim settlement. For example, if you suffer a $250,000.00 fire loss, the public adjuster fee for assisting you would be $25,000.00 This $25,000.00 is taken out of your claim settlement. The objective of a claims adjuster should be to protect the insured against not only financial loss, but also the cost of recovering it.
Course fees are NON-REFUNDABLE.
However, you have 365 days to complete your course.
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40 Hour Property and Casualty - Adjuster -
Self-study Class $500.00 ( includes Workers Compensation and Crop).
Includes electronic manual, hard copy manual and online practice examinations
20 Hour Property and Casualty - Adjuster -
Self-study Class $475.00 ( EXCLUDES Workers Compensation and Crop).
Includes electronic manual, hard copy manual and online practice examinations.
State Examination Fee - All Adjuster Exams - $75.00
You must enroll in one of the courses above and for the exam below:
An "adjuster" is an individual or firm (corporation, partnership, or other business entity), who for compensation as an independent contractor, or as the employee of an insurance company for compensation, fee or commission, investigates and negotiates settlement of claims arising under insurance contracts on behalf of the insurer.
Alabama Department of Insurance defines an adjuster as "an individual or firm (corporation, partnership, or other business entity), who for compensation as an independent contractor, or as the employee of an independent contractor or for fee or commission, investigates and negotiates settlement of claims arising under insurance contracts on behalf of the insurer."
- Responding to claims in a timely manner
- Filing paperwork
- Communicating with policy holders Investigate liability, assess damages - often required to operate a 50-pound ladder and must stand, walk, kneel, crawl, and perform other physical demands as they investigate damaged property
- Research, detail and substantiate each aspect of the claim, including building damage, contents, and extra living expense claims.
- Ensuring accurate procedures
- Computer Skills with a degree of proficiency.
40 Hour Property and Casualty - Adjuster -
Instructor-led Class $550.00 ( includes Workers Compensation and Crop).
Includes hard copy manual and online practice examinations
Specific duties include:
Adjuster Definition:
An "independent adjuster" is a person who, for compensation as an independent contractor or as an employee of an independent contractor, undertakes on behalf of an insurer to ascertain and determine the amount of any claim, loss, or damage payable under a contract of property, casualty, or workers' compensation insurance or to effect settlement of such claim, loss, or damage. Ala. Code § 27-9A-3.
Education and Licensing Requirements:
Approved Pre-licensing Course - after completing you are eligible to sit for the state insurance licensing examination).
Course modules:
- Cause and Origin
- Claim Documentation
- Insurance Ethics
- Insurance Fraud Awareness
- Introduction to Fire Losses
- Introduction to Property Claims
- Introduction to Water Losses
- Introduction to Windstorm Losses
- Property Investigation I
- Property Investigation II
- Property Subrogation
Qualifications:
Firms and individuals may become licensed adjusters.
Individuals must:
- Be 18 years of age or more.
- Must complete the required 20 or 40 Hour Pre-licensing Adjuster Course from an approved provider for the requested line of authority. Must take and pass the State final exam and then apply for the license.
- Effective April 1, 2015, all individual resident applicants seeking to become licensed as Adjusters, or who are adding a new line of authority to an existing Adjuster license, must have completed a Fingerprint background check. You should seek to get fingerprinted after passing the state exam and one day before applying for the license.
In accordance with the Beason-Hammon Taxpayer and Citizen Protection Act, Alabama is now required to verify the citizenship of ALL APPLICANTS. There are sixteen different identifiers, including your official driver’s license, any one of which can be used as proof. Your license will not be issued until this documentation is received. If information is not received within 10 days your application will be rejected. Please note: Fees paid are non-refundable.
NOTE: Non-resident individuals and non-Alabama firms must permit Alabama resident adjusters and Alabama firms to act as adjusters in their home state.Adjuster Lines of Authority for which a 20 or 40 Hour Exam must be taken.
Initial Licensing Process
Alabama Residents:
- Must have completed the 20 or 40 hour pre-licensing course and passed the state exam.
- Applicant must apply online. .
- License fee of $110 will be accessed along with a NIPR transaction fee of $5.00.
- A $5.00 NIPR transaction fee will be charged for each initial and renewal transaction on top of the required state fee, for all license types. NIPR FEES ARE NON-REFUNDABLE.
Effective 1-1-2015:
Any non-resident individual choosing Alabama as their Designated Home State for the Independent Adjuster license must take the appropriate prelicensing course and pass the appropriate Alabama Adjuster exam and complete the fingerprinting requirements.
Initial individual Independent Adjuster license is effective until biennial renewal would be due. Individual adjusters renew their license based on their birth month and birth year, odd or even. See Adjuster Renewal Process for details.