Salary Ranges for Insurance Claim Representatives
After a flood, car crash, robbery, natural disaster or other property loss, contacting an insurance company is usually one of the first tasks on the list after ensuring family member safety. Insurance companies send their claims representatives to evaluate the potential loss, and these professionals are trained to examine, calculate and process payments for the policyholder. Salaries for insurance claims representatives range as widely as the potential damages they inspect.
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The Salary Range
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Although the national average insurance claim representative salary was established as $58,780 in the U.S. Bureau of Labor Statistics' 2009 Occupational Employment and Wages report, this figure is comprised of a range of numbers from salaries across the country. The highest paid insurance claim representatives in the profession's 90th percentile earned approximately $85,810 per year. At the other end of the range, representatives earned $34,820 at the bottom 10th percentile.
Targeting the Range
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Salaries were the highest on the East Coast. The District of Columbia led the nation with insurance rep salaries of $77,180. New Jersey placed second, with salaries of $67,190. In third place was Louisiana, paying $63,630. New York and Vermont followed at $63,310 and $63,300,respectively.
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Range Specialties
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The BLS report singled out several industries paying above-average salaries to their insurance claim reps. The securities and commodity brokerage industry earned top honors, with wages of $71,950. The natural gas distribution industry also paid a higher salary, at $68,960. Both the rail transportation industry, at $66,250, and the federal executive branch of the government, at $66,000, ensured their representatives higher-than-average salaries.
Staking a Claim
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There is no single specific path toward beginning a career and earning a salary as an insurance claim representative. Unlike other professions, no degree or years of schooling are required. Some employers may hire candidates with just a high school diploma and perform on-the-job training or match the new hire with an experienced mentor. Prospective claim representatives may pursue post-secondary schooling through short-term certificate or two-year associate programs, taking courses such as finance, economics and accounting.
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