Which Claims Adjusters Make The Most Money?
Claims adjusters are the ones you work with when something goes wrong with your home, property, boats or vehicle(s). They are responsible for evaluating damages and negotiating settlements with policyholders, maintaining a strong understanding of insurance policies and regulations, and having excellent communication and negotiation skills.
Property, home, auto and boats are just four of the many areas in which an ACA can work. The salary range for this growing field varies and is dependent on a few factors such as area of expertise, employer, location and longevity in the field.
Catastrophe Claims Adjusters
Catastrophe claims adjusters are highly skilled professionals who are called upon to investigate and process insurance claims following natural disasters such as hurricanes, earthquakes, and wildfires. These adjusters are typically in high demand after major catastrophic events, and they can earn a substantial amount of money due to the specialized nature of their work.
According to the Bureau of Labor Statistics (BLS), the median annual wage for accredited claims adjusters, examiners, and investigators was $67,680 in May 2020. However, catastrophe claims adjusters can earn much more than this, with some earning salaries well into six figures.
Senior Claims Adjusters
Senior claims adjusters are experienced professionals who have been working in the field for several years. They are responsible for handling complex claims and supervising the work of other claims adjusters. Senior claims adjusters typically have strong negotiation skills and can resolve disputes with policyholders and other parties involved in the claims process.
According to Payscale, the average salary for a senior accredited claims adjuster is $72,000 per year, with top earners making more than $100,000 per year. Salaries can vary depending on the industry.
Auto Claims Adjusters
Auto claims adjusters investigate, and process insurance claims related to car and motor vehicle accidents. They must have a strong understanding of automobile mechanics and regulations, as well as excellent communication and negotiation skills.
In May 2020, the Bureau for Labor Statistics reported the median annual wage for accredited claims adjusters, examiners, and investigators was $67,680. However, auto claims adjusters can earn more than this, with some earning salaries of $100,000 or more.
Property and Casualty Claims Adjusters
Property and casualty claims adjusters investigate, and process insurance claims related to property damage and liability. They must have a strong understanding of property damage assessment and liability regulations and excellent communication and negotiation skills.
According to the BLS, the median annual wage for claims adjusters, examiners, and investigators was $67,680 in May 2020. However, property and casualty claims adjusters can earn more than this, with some earning salaries well into six figures.
The short- and long-term earning potential for accredited claims adjusters can vary depending on your location, industry and specialization. Catastrophe claims adjusters, senior claims adjusters, auto claims adjusters and property and casualty claims adjusters are all among the top earners in the field.
For more information on how to earn your 6-20 ACA designation and join this growing field, we invite you to call our Clermont, Florida office at 1-800-309-2459 or read more about the accredited claims adjuster certification process on our website.
In Florida, once you pass our ACA exam and earn your 6-20 accredited claims adjuster designation, you can apply to the state for your all-lines adjuster license. This will enable you to work on home insurance claims, auto and RV insurance claims and property insurance claims. You would have the flexibility to work as a staff claims adjuster or an independent insurance adjuster.
Ready to take that next step? Give our office a call today, 1-800-309-2459.