Matt:
In addition to the above, I have heard that some IA firms have an entry level tract assisting rope teams. If you do well with one of these teams, then you can enter the main line of the majority who have standby positions with many IA firms. The bottom line about this business is perseverance and being well-trained before it matters. Some people recommend getting a staff position first; that's probably the best way to learn the business, but the odds may not be good for landing one of these positions simply based on the number of candidates, relocation issues, etc.
I paid my own way during Wilma to get a start, and when people realized I was qualified, I ended up getting claims and then carried on. This is a business where you need a variety of different skills and experiences. The policy nuances are pretty complex, and that was a real challenge for me initially (still is)... what is covered and what is not and why. Some people are good with some aspects of the business - construction, policy, computer skills, work ethic, etc. Some are good with others. The best adjusters seem to be good at most all aspects. Education is the best way to reduce the weaknesses in some of these areas, and following the threads on this website is a real goldmine of information.
You may fall in a situation like many where you would want to maintain a job / career that pays the bills but allows you to break free when you want to work a storm. The problem is cuing up your non-storm workload with potential storm work, especially if you agree to work on a major construction project in your current job. I met people in Florida who have no problem leaving other commitments high and dry to work a storm, but that is a pretty shortsighted approach to life in my opinion. So cuing up your primary work flow is a difficult balancing act.
As a full time commercial real estate appraiser, I end up contracting smaller but quicker assignments this time of year. I cannot get bogged down with a major 4-6 week assignment starting July or August since that’s really the beginning of big storm season. Residential appraisers can change the spigot of their business pretty well, but they may lose clients if they are not available for an extended period, but that’s one business to consider as an offset to being a cat adjuster if being a contractor is too hit and miss. Daily claims is another good choice.
I think if one is on the staff tract until going out on your own, one still has to have some secure career other than being an IA, because if one makes the leap from a staff position, one still has to count on a lot of storm activity or good connections in the industry. The IA firms keep their most loyal people busy first, so you cannot count on being deployed until you are on the top of the food chain. This is really a challenging business; the industry either has too many or too few adjusters at any given time.
Here are my answers to your questions-remember I am not a novice as an IA, but others here have much more experience, so take it for what it is worth… as well as for what you are paying for the comments:
1. Will my education help me at all? it seems as if ive read that some companies require 4 year degrees, but i didnt know if that was just for staff adjusters or if that applied to independents as well, seems as if experience is more important.
Yes the construction background is very good and a 4 year degree is helpful. I know there are a number of IAs who do not have college degrees, but then others have masters degrees (even in divinity which is pretty interesting). It is a strange business with respect to the wide range education of the adjusters. The number 1 factor I think is experience, yet it is very difficult to get experience since you will not be deployed until a huge storm happens. So you have to be in for the long haul, and you have to figure out the business by reading alot and work hard when a storm hits.
2. After getting your License, what other training/licenses/certifications are the best to get and in what order should i get them?
This is kind of an economic question as to how much you want to do. I read about the person with 12 licenses and no experience, and I think he was steered in the wrong direction. I would affiliate with a major IA firm and get the certifications you already mentioned (State Farm, USAA, Citizens, etc.) I think that getting this done is the precursor to working many storms. Get as many as fast as possible, but I would not get over-extended in terms of state licenses. I have 6, and I don’t really want more now. Vale has a good reputation for specific training.
OJT is hard to come by, as you risk washing out during a time of high stress if you are not only trying to do good customer service but also learning how to adjust claims, xactimate, etc. The more prep training, the better you will do. If you search this website, you will find many specific discussions about various schools, training, etc. There is significant pressure in this business. You can imagine how people feel after a major life changing event like a hurricane, and the easy dog to kick is the insurance company and the insurance adjuster. So the better prepared you are, the better things will work out. Many people wash out in the first few weeks of a big storm.
3. Is the industry flooded with too many adjusters already? Seems like during my research theres alot of people trying to break in to the field. Is there room for new eager adjusters to make a living?
Yes- there are either too many or too few adjusters at any given time. In a big storm everybody is working; in other periods, some who are waiting for the next big storm are worrying about their IRS liens- no joke. Qualified people always seem to float to the top; it just takes time and humility learning lots of new stuff, but there are lots of adjusters who you will compete against / work with. Look for a good recent post on this website which discuses competing against Michael Jordan one on one. It's a good post. If you have a steady income with another job which has flexibility, you have the basics to survive the long haul as you accumulate experience unless you are blessed by a patron of an IA firm.
4. As an independent what type of insurance/bonds do you need yourself? Liability insurance, surety bonds, malpractice if there is such a thing for adjusters etc....
Good question- I work through an LLC, and I know my E&O appraisal insurance will not cover adjusting, so I am in a quandary on this one. I like the idea of the IA firm having good coverage, and I hope that works. I am not sure if my LLC will shield litigation when we are licensed and prepare claims as individuals. Frankly I doubt it, as it is easy to name a person in a lawsuit. Many people in the appraisal business keep assets in others (their wife’s) name. If you are named in a lawsuit, you will have to file an answer- that’s likely to be more than $5K. I’d bet probably between $10 and $20K.
This litigation risk is a new wrinkle I had not really factored in when I started. Kentucky and some other states require surety bonds, but they are really not going to help you; they are intended to help the insured. Some people here think that if you get E&O for adjusting, it may not give adequate coverage anyway. So, this is a risk of the business. I’ve read the Texas Wind litigation thread, and I’m curious to know the % of total claims that are being litigated. Good luck.