Claims Adjusters

Job Summary:
Claims Adjusters also known as claim investigators or claim representatives first determine whether customers' insurance policies cover the loss when a policyholder files a claim. Then they estimate the amount of the loss. Adjusters often visit the property to assess the damage for themselves. They interview the people making the claims and gather information about the property that was stolen or damaged. They also gather information about people who were hurt. If there are police or hospital records, adjusters copy and read them. Once they have gathered the necessary information, adjusters analyze it. They may contact insurance agents or claimants to get additional information or verify it. Adjusters write reports outlining the facts of claims and explaining their decisions. When claimants are not happy with the money they receive, adjusters negotiate with them. They attempt to find payments that are acceptable to insurance companies and claimants. However, these negotiations are not always successful and cases sometimes go to court in which case, adjusters talk to lawyers before the hearings. They may testify in court.

Qualification:
Many claims adjusters have a bachelor's degree. There is no single program of study that prepares you for this occupation. However, your major may determine the insurance area you work in. For example, those who study architecture or engineering may work with industrial property damage claims.

Salary Range:
Nationally, the median wage for insurance adjusters and examiners is $3,540 per month ($20.40 per hour). Half of all insurance adjusters and examiners earn between $2,730 and $4,620 per month ($15.74 and $26.66 per hour).

Wages vary by employer and area of the country. The worker's level of experience, education, and responsibility also affect wages.

Prospects:
Experienced adjusters and examiners may become supervisors. Some adjusters become self-employed. They contract with insurance companies to settle claims for them.