Insurance Adjuster Career Guide and Counseling

Question: Insurance Adjuster? I have a 94' Dodge Ram 1500 with a 318 v8 Magnum. It has running boards and a spray-in bedliner. I have added high proformance spark plugs, a K&N air filter and high proformance synthetic oil. What do you think is the value of my truck? Expecially in the eyes of an Insurance Adjuster. I need to make a claim but I dont want to lose my truck if it is a total loss. single cab, 2 wheel drive. Also has a long bed

Answer: Hiya: Things like oil, air filter, and spark plugs are not going to add a whole lot of value to your vehicle. When I explain this to people I usually explain that a vehicle is SUPPOSED to come with those things. Just like tires. A car is supposed to have them. If you have racing wheels on a..honda civic, let's say...then that can likely DECREASE the value in particular markets. If you have a fancy paint job - the vehicle is worth less in certain markets (like an elderly community - those people are not going to pay for racing wheels and a fancy paint job). The V8 engine would rank above a V6 but the mileage is going to be the big deal. A 94 vehicle with 40K miles is going to be worth more than a 94 vehicle (especially a truck) with 97K miles on it. Trucks are known for heavy duty work and the value depreciates a lot quicker. Anyway...you can go to www.nada.com and plug in your vehicle stats to come up with a pretty good idea of the value in your area. (Values can REALLY vary from state to state, btw). The adjuster is going to do a market search based on your vehicle stats. That means they are going to call dealers, check out the trading mags, call local sellers with vehicles advertised for sale.......They have to establish what your truck would be worth in your market. If you are in a farming community - it might be worth more. If you are in a cosmopolitan city - it would likely be worth less. Yeah, so.....that's about as clear as mud, right? :-) NADA should help you out. You can also ask your adjuster for the information they base their value on. BTW - if there is more than a few thousand in damages....it's likely a total loss. That doesn't mean you lose your truck though (if you are the titled owner). You always have the option of keeping it. (The adjuster would decrease the offer to you by whatever the salvage value is though. If the offer was $5000 and the salvage value was $500 and you wanted to keep the truck? You would get $4500 (less deductible if 1st party) and could keep the truck. Granted - In some states you'd have to get a salvage title and wouldn't be able to drive the truck legally until it was repaired and inspected......at least, that's the way it is where I've handled claims.) Still clear as mud? Hopefully not. Goodluck! ~jifr!

Question: What's the difference between an insurance adjuster and a Public adjuster in IN? What is the difference between an insurance adjuster and a Public adjuster in the State of Indiana? Are they just two different names for the same thing?

Answer: The insurance adjuster, works for a company, for a salary; or a private adjusting comany, that does freelance work for a company, for either a salary or commission or fee basis, depending on the type of claim. A public adjuster works for the insured, on a commission basis - they take a cut of your total claim payment, up to 30%, just like a "no win no pay" lawyer. They are NOT the same thing.

Question: How long does an insurance adjuster have to pay insured for there damaged personal property? I had a house fire, and filed a claim for structure and personal property. It has been one month sense adjuster has received my personal property info, and yet no check. Just a bunch of lies that the check is in the mail or supervisor needs to sign off. I was under the assumption Insurance companies had 14 days after agreed settlement to pay. Is this correct? I live in California.

Answer: I have never heard of any kind of 14 days rule. You may want to follow up with the adjusters supervisor. Since we don't know the particulars of your case- we can't provide you any hard and fast information.

Question: What classes/courses must you take to become an insurance adjuster? My mother was an insurance adjuster for Nationwide Insurance. I would like to follow in her footsteps and become one. Do I need to take any classes to become one?

Answer: Depends on what your state says. Go to your state insurance department website, and see what the requirements are to be licensed as an adjuster.

Question: How do I get an insurance adjuster to consider paying me the same amount they would a body shop? Recent hail damage on my car. It is paid off and older. I was considering taking the cash-out option on the insurance claim and putting the cash into repairs. I received 3 quotes from reputable body shops and they ranged from $2100 - $2400. Just came back from a meeting with the adjuster (All State) and they offered $1380. He told me if I wanted more, take it to a body shop and All State would pay the difference to the body shop. Why, if All State will pay the body shop $2100 to repair my car, will they not give me a check for $2100? I know darn well that I've given them more than that amount over the last 10-years as a policy holder! To make it even more pertinent - one of the quotes is from their 'preferred' body shops! Can I appeal to the Texas Department of Insurance? Thanks in advance for helping a consumer compete and win against BIG Insurance companies!

Answer: I'm sorry but you're not going to get any help form the TX Dept of Insurance on this one. One of the basic premises of insurance is to cover damages or losses WITHOUT profit to the policyholder. Allstate is not doing anything wrong here and there is nothing for you to win. I'm pretty sure the state of Texas will tell you the same thing. Thousands of people each spring have hail damaged cars that they have no intention of repairing. The policyholder figures they can make some easy cash, even though they are not entitled to do that. The estimates that you received form the body shops included their profit. The body shop is permitted to profit from your damage, but not you. Allstate is offering you the lower figure because if you are not going to repair the car or are going to repair the hail damage yourself you are not permitted to make a profit. I suggest you take the $1380 because this is one fight you're not going to win. If you want you can call the TX dept of insurance at 1-800-578-4677 and talk to one of their investigators.

Question: How to become an auto insurance adjuster? I live in Georgia, and wanting some details on becoming an auto insurance claims adjuster, I currently work for an towing company have some experience in vehicles. also, how much money do they make?

Answer: The answer will vary depending on if you want to become an Adjuster (one who investigates liability) or an appraiser (one who only estimates vehicle damages. First off, either one can be a very stressful, thankless job. Depending on what company and location you could start as a trainee in the high 20's or low 30's. A good way to get into either position is to get a job as a trainee at a large insurance company. That is where you will get your best training and more importantly experience. Check with jobsites such as www.greatinsurancejobs.com or www.careerbuilder.com You might also check with any local vocational schools in your area as many of them are beginning to offer classes in becoming an adjuster. Good Luck

Question: What is your experience with a Public Insurance Adjuster? Two days ago we had a significant fire in our home. Much of the damage is heavy smoke throughout 95% of the home. There are also questions around structural damage to the crawl space below. While the insurance adjuster has been very nice up front, I do understand he does not work for us. I am looking to find those that have experience in hiring a Public Insurance Adjuster to protect my interests? Was the cost beneficial? Would you use another in the event of a catastrophe? What were some valuable services they gave you? What percentage of the settlement did you have to pay them?

Answer: there are definitely Pros ...... after retiring as a catastrophic claims adj with an ins. co. I freelanced for about 5 years, then decided I really, really meant it when I said I wanted to retire. The main reason people came to Independent adjusters is because their company adjuster was not working with them. If you have a problem with your adjuster, let them know. If you think there is more damage than they are allowing for, tell them that you are getting a contractor to come out and evaluate the damages. Depending on the company, sometimes they send an adjuster out with a tape measure and a calculator and they tell you it's going to cost "this much to fix it" sometimes ya just gotta get into some coveralls and start looking around. you need to make sure that your damages list(s) to the adjuster are as complete as possible. Sometimes it's easier to get as many of the family together as possible, and have them make a list independently.. everyone remembers differently.. my husband would never remember my spoon collection, and it's been hanging on the wall for years... lol Put the list together and make a final list.. you should have things pretty well covered. Don't forget, under replacement coverage, when the adjuster asks you when you bought it.. it doesn't matter.. when you replace it they reimburse you full price (new for old, with a paid receipt) they might give you actual cash value until you do replace it, but when they get the receipt they will pay you the difference. If collectible are involved... get on the 'net. contact other collectors. Every family has "born shoppers".... give them the list. I had an insured with a fire loss.. the wife was going through chemo at the time. she had neither the time or the energy.. I suggested to her that she find a decorating firm get me a couple of bids, we weren't going to pay for the same firm that did the white house, but I realized that she was going through some extraordinary circumstances. Contrary to popular belief, most adjusters want you to get what you paid for.. your life back. An independent is going to cost you about 5 - 10 %.

Question: what does a homeowners insurance adjuster do? Any help would be appreciated. Over the weekend, i had a pipe/hose break and flooded my kitchen overnight. I know we need to make a claim with homeowners insurance. They said they will send out an adjuster to survey damage. What do I tell this adjuster? Do I need to make a list of stuff damaged? Will he help me get the most money i need? Any one with any experience please help Thanks.

Answer: I can't give you specific information about your claim -- but I can give you some general info. You may want to contact your insurance agent with questions. If the claim is covered or not and how much is paid -- depends on the type of homeowner’s policy you have. If you have a standard HO3 policy with a replacement cost provision: this general info should apply. First off - it is ok to clean the water up. You have probably done this already. But if not-- go ahead and do it. The adjuster does not need to see the water on the floor. The adjuster will come out and inspect the damage. This will involve walking around the home, taking photos, measurements and notes. If the home has air registers in the floor and it is possible the water got in the register -- the adjuster may go under your home (if on a crawl space). The adjuster may want to take a recorded interview about what happened. What they are looking for - is information about the loss. It gives them an idea of what areas are damaged and if they can pursue the manufacturer of the hose (in case the hose failed because of a manufacturer defect). The adjuster may have some paperwork for you to sign. The adjuster may offer to send a water restoration company out. This is a really easy way to handle the claim. These are companies that specialize in fire and water restoration. They have all the equipment to dry the home out and to repair anything that is damaged. These companies are "turn key". That means they can act as a General Contractor and you don't have to hire a flooring guy, an insulation guy, a painter etc. You don't have to use one of these companies -- but it's worth considering. Makes the process easier on you because you have one repair guy to go. The restoration company will be able to handle the job from beginning to end and will work directly with the adjuster to get the repairs done. You would pay your deductible to the contractor. These water restoration companies can also - inventory any damaged items and clean/dry anything that is cleanable. If you chose to use a restoration company - the company will have you sign paperwork hiring them. They are actually working for you - but the insurance company pays. The insurance company owes to put back what you had. So, if you had vinyl flooring in the kitchen. That's what they will pay to put back. However, if you want to upgrade and put down tile --- you can do that. You just have to pay the difference between the cost of vinyl and the cost of tile. If you need to stay in a hotel while your kitchen is being worked on-- you can. Or if you need to eat out -- you can. However - a heads up on the eating out -- the insurance company will not pay the full bill for eating out. The loss of use coverage - pays for your additional expense. Had the hose never burst -- you would still have to eat. But- you probably would have cooked rather than eat out. So the insurance company would not pay the full bill of eating out. However, they would pay something toward the bill to make up the difference between the cost of eating out and the cost of cooking that meal at home. The adjuster's job is to try and put you back where you were before the loss -- not better off -- not worse off. When your adjuster comes out - just answer truthfully and ask any questions you have. That's what the adjuster is there for. You can also ask your agent. Good agents are always willing to help you as you go through the claims process.

Question: how can i become a insurance agent or insurance adjuster? I would like to start working for a Insurance office. Any type. Just need to know what type of education I need or type of classes I need to take to be able to work as a adjuster or agent.

Answer: To get licensed to sell insurance contact a local agent. Here is a directory of agents by zip code: http://www.insuremyhouse.com/agent.html They can tell you what exams are needed for your state. You can get test prep materials at Dearborn.com

Question: What happens to the remainder of an insurance check if the repairs are lower than the amount paid by adjuster? My insurance adjuster issued a check to my finance company for repairs to my home. The amount for repairs was less than the amount on the check. I was just curious what happens to the rest of the money.

Answer: You keep it! Just don't use this as an excuse, in the future, to fudge numbers when getting an estimate. That would be insurance fraud.