Auto Insurance Adjuster Salary
Auto insurance adjusters work with claims from customers who have insurance policies to protect against monetary loss involved with their vehicles. The adjuster determines whether the policy covers the loss and how much the company should pay. The average salary for a claims adjuster is more than $50,000 per year, according to the U.S. Bureau of Labor Statistics.
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Job Features
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Auto insurance adjusters investigate the validity of claims and authorize payments to policyholders. They handle claims filed after automobile accidents and in the case of other damage to vehicles covered by the policy, such as from storms or vandalism. Adjusters interview the policyholder and sometimes they talk with witnesses, and they inspect property damage or review estimates from repairers. The occupation of auto insurance adjuster usually does not have formal education requirements, but the U.S. Bureau of Labor Statistics explains that applicants with college degrees or related work experience should have the best opportunities.
Salary Range
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The Bureau of Labor Statistics includes insurance claims examiners and appraisers in its salary figures for insurance adjusters. The average salary for all these workers as of May 2009 was $28.26 per hour, or $58,780 per year. Those in the middle 50 percent of the earnings range had salaries of $43,300 to $72,130. The bottom 10 percent had salaries at or below $34,820, and the top 10 percent more than $85,800.
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Specifics
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The job search website Indeed.com shows more than 1,000 listings for auto claims adjusters throughout the country in January 2011. Posted salaries range from $38,000 to $75,000 per year. Full-time adjuster positions generally provide benefits packages with health and dental insurance, life insurance, a 401k or other company-matched savings plan, paid vacations and holidays, tuition reimbursement and employee discounts on insurance. Most require a bachelor's degree or equivalent work experience.
Outlook
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Little to no growth in this occupation is likely to occur for the foreseeable future, according to the Bureau of Labor Statistics. Although the number of auto insurance policies is increasing, claims are not, mainly because of safety improvements to vehicles and roads.
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