Got into this business to be an independent, and got scooped up immediately as a staff adjuster with pretty decent pay. Been stuck afraid to make a move because good job but would agree a lot to put up with and high stress work for Mr “Mayhem” here at one of the big 5 insurance companies
If your thinking about be a adjuster and still not sure about it do it its worth it I've been working 4 months this year and I'm already at 165k and will be at 200k before the end of next month.just work your ass off and want to be there you will be taken care of
@aundrethompson902 go to the independent firms and make your account on there portals and just put in your resume also start getting as many other states license all through the Midwest has large hail storms every your and also get the southern coast up through the east coast that's where all the hurricanes hit and don't say no to anything that you are offered do everything you can the more experience you get the more work you will get
My dad was an cat property adjuster for years before he retired. He made big money being frugal, working like a dog, going anywhere for work than nothing. He budgeted his money. Also he would run local day claims when home. I remember him saying when it was rodeo season the independent adjusters from the south would go to rodeo and not work. Than he would work and clean up. HIS WORK WAS MAINLY HURRICANE, WIND AND THE DREADED HAIL ROOF DAMAGE😊😊😊😊
7:06 Pretty realistic numbers in this video. I worked the California "atmospheric river storms" from Jan through April. A lot of minor fence damage claims and a few trees fell on houses claims. I worked 107 days; 333 inspections. If you divide, you will determine that as a slow adjuster, I only closed 3.1 claims per day. Grossed $130K so the average claim paid me $389. I stayed in hotels and rented a car. Expenses were about $25,000, so net about $105,000. I don't know what the CPA will figure, but I estimate I'll pay $20K taxes on that income, leaving me $85K after expenses and taxes. As a retired teacher, it's a nice addition to my pension, which is only about $30,000/year.
I wouldn't say that's necessarily "slow." 3 claims average a day is pretty good. For everybody else.. that includes days off, paper days, rain days, and days where he definitely closed more than 3 claims in a day. It's a good average.
@patmcm6119. I’m an elementary school principal 3 years from retirement. I was wondering how you found the transition from the classroom to adjusting. I’m trying to map out my exit strategy! Good luck to you. Sounds like it’s been a good fit for you.
I’m planning on getting started with the licensing process. Is it difficult to get started as an independent. I’ve heard it is difficult to get assigned with companies if you don’t have previous experience on your resume.
There's two main types of claims work for independent property claims adjusters: catastrophe and daily. Obviously catastrophe (cat) is bad weather and disasters. Daily is regular claims that happen all the time - kitchen fires, backed up toilets, etc. They are both incredibly lucrative. Cat is the easiest way to get into the industry and the best way to build chops as an adjuster since it's highly repetitive (50 hail claims are very similar to each other)
Hi! Thanks for your insight on this. My fiancé is getting his license and wanting to do cat. How soon do claims close? How long are you waiting for a payout after one?
I know my parents got into adjusting with 0 experience by applying with Alacrity, Eberls and pilots. They took some free courses and were put on roster and have been called for work from home gigs for past few years. Temporary usually 1-3 months . They only work from home and usually are mailed a computer and when done they send it back.
I’ve been at it 18 years, 50+ hurricanes and floods, working the flood side only. Living hell just means you’re on storm. It don’t change. How you face it, does.
SF I’m guessing your referring to San Francisco, if so how much work you get in the Bay Area. I’m wanting to get my license in property and auto. If you can shine some light. Also what’s the best practice to get started. Thank you
@@forceuser609 If you look at 50/50 as balanced, then yes. Some years are a whole lot better than others. Some years 80/20. Hotels and flights are just part of your expense. You’re running an on-the-road office, so it cost a Penny or two over a years time. As 1099 you can write your expenses off, as W2, you cannot any longer. Use to have 40-50k write-offs. Last administration took that option away. I recommend a CPA, and have had one for 18 years. It cost ya, but has always paid off in the end. I’m a Flood Adjuster only. There is big money in flood, if you stay the course, and are willing to work at an insane pace and provide a quality product. You can earn up to 200-300k. Some folks even more. Average year 100k…and you’re not closing 6 claims a day. This job is not for everyone. I have seen “mercenaries” come and go… by the hundreds. In short, Be smart, work hard, and you won’t really concern yourself with write-off/expenses. My motto for the last 18 years never changed…It is about the Policy Holder, and their loss, not my gain.
@@thetruth7046 thank you for this response, I’m really looking forward to starting, about to take my Texas exam, I want to do CAT, haven’t looked into flood but maybe I should. As someone from the auto industry if I even made 70K doing this I’d be happy, can’t imagine 100.
