Becoming an Insurance Adjuster

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Becoming an insurance adjuster typically requires a four-year degree and two years of training. It is a difficult profession that requires a lot of investigation and legwork. Investigate the validity of insurance claims as an insurance adjuster with information from a financial adviser and insurance broker in this free video on insurance.

Part of the Video Series: Insurance Tips & Facts
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Video Transcript

This is John Pinelli, financial representative, talking to you today about how to become an insurance adjuster. To become an insurance adjuster, typically, you would have to obtain a four-year degree. After that, you might have to participate in two years or even more of training because insurance adjusting is a very difficult profession and requires a lot of investigation and legwork involved in that. Now, in doing insurance adjusting, you can either work on the behalf of the insured or you can work on the behalf of the insurance company. When you're working on behalf of the insurance company, what you might be doing is investigating a lot of claims. So you may be questioning the insured, checking out their residence if it was a homeowners policy. You could be asking questions to police officers, anybody who would've been involved in witnessing the claim or handling the claim or understanding how the claim happened, occurred, et cetera. You'd be basically doing a lot of investigation to determine if that claim was actually a good claim. If you're working on the claims adjusting side for...on the behalf of the insured, you may be on the independent side. You may be working for a small company who specializes in this type of adjusting, or you may be out on your own. And typically, the way that would work is if the insured had been denied the claim, the insurance adjuster would come in and do a lot of investigation. They would potentially ask questions of the insured, ask questions of people who may have witnessed the potential claim, provide a lot of documentation, et cetera so that they could help to ease the claim and allow the claim to receive some sort of compensation. Now, if the...if the adjuster is working independently, typically what would happen is the insured or the person filing the claim would pay the adjuster a certain fee, usually around 10 percent, for the services of helping them make that claim and receive that money. If the claims adjuster's working for the insurance company or affiliated or a subsidiary of the insurance company, they may be just on a salary and wouldn't be paid on a commission type of basis, although they could. But typically, they would be doing a lot of the same things, just on the other side of the coin and to ensure that the claim is, in fact, valid or to prove that it's not valid. So this has been John Pinelli, financial representative, talking to you today about how to become an insurance adjuster.

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