Adjuster Estimates

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Last Post 12/20/2011 12:45 PM by  Shotgun1053
how much staff guys make?
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jlouden
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01/13/2010 10:07 AM
FloridaBoy, grammar nazi tactics to "demonstrate" the lack of intelligence or suggestion that dude doesn't know what he's talking about is... well, stupid.

How much does a staff guy make? It depends. More than any other industry, Insurance Adjusters have a huge pay range because of the gray area when it comes to experience and skills that go into making one a successful adjuster that is paid well. If you want to be the best adjuster ever, working a staff is in your best interest. Especially if you are new. The adage that a shed tool grows rust and becomes dull when not being used couldn't be more applicable. You want multiple causes of loss? You want to settle and close claims? Be a staff guy for a few years, and get paid enough to satisfy your bills.

The thing about CAT work is that yes, it will be there. If you're in it to win it and make a long career out of this business, then it will serve you well to work a staff role and make less money than if you are an IA doing CAT work. Insurance companies become lax in their rules during a CAT deployment by bumping figures for Proof of Loss, reserve requirements, diaries, and cut out other processes in order to close files quickly. You know as well as I do that if you get into large losses (which is where the money is at, not through the typical view of CAT vs. Daily), you'll be able to adjust and process those files completely.

I will take issue with you getting paid for mileage. That is going to go away. Same goes for photos being paid out at $2/copy.
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JimGary
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01/13/2010 1:15 PM
Posted By Jeff L on 13 Jan 2010 10:07 AM
I will take issue with you getting paid for mileage. That is going to go away. Same goes for photos being paid out at $2/copy.

 

That is true, I have already seen firms offer "local" adjusters for every claims. Adjusters have a choice to take the assignment with no mileage, or stop getting assignments. There will always be a newguy that will take them to get their foot in the door.

I know the voices aren't real, but sometimes they're right!
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65Daily
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01/13/2010 1:28 PM
Posted By K ung Fu tzu on 08 Jan 2010 03:04 PM
It really depends on how many years you've been with the company. 40-50 is a good start with someone with 5 years experience latching onto a compay. I have friends that started with Allstate and State Farm in the late 80's making about 105-110k.

I gotta tell you, there's always a rumor floating around of a staff adjuster making six figures doing daily claims for an insurance carrier.  For example, I just met a contractor who's brother became a GA for USAA and currently makes $165K to cover a large region.  Whether 'K ung''s story is true or not, we'll never know.  Whether my buddy's story is true or not, I'll never know until I see the pay stub or get offered his job when he moves on.  I work as a 1099 adjuster at 65%.  To work an entire year getting an average of 40 claims a month is just right for me- its not the greatest, but I'm content.

Internal documents on pay grades for a carrier (in the top Fortune 100 list) that I worked for until 2002 paid $40-50K with a co. car & benefits for their field adjusters.  Their Unit Manangers (to oversee 30-50 personell for auto/casualty) only made upwards of 110K according to the memo.  To oversee adults acting like toddlers for that pay?  Err, not my cup of tea...  I've done the management route and am keenly aware as well as shocked at the kind of crap the average employee will pull.

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Joe60
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01/13/2010 2:35 PM

I believe that Olegred is dicussing the standard mileage rate for federal income tax deductions, with his .59. However the new rate is only .55 so he lost .04 per mile already. Besides, a deduction is simply money you did not earn, unless you would have spent it anyway.

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claims_ray
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01/13/2010 2:57 PM
He must know what he is doing he has a Masters Degree, obtained his AIC designation, is working on his CPCU, worked over 1100 claims in 2009, making $160k and the carriers are not laughing at him for asking for at least an $80k salary.

I forgot to mention that he cooks and washes windows as well.
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steve sanders
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01/13/2010 3:25 PM

Interesting note on the math. 1100 claims over a 12 month period means you would need to close on average 3 claims a day for everday of the year. All 365 days each and every day, no day off, no interruption in the work flow. Not saying it can not be done. Just interesting. Can anyone say Wilt Chamberlien like numbers. 

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claims_ray
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01/13/2010 3:51 PM
At an average of $145.45 per claim they couldn't have been very involved.
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jlouden
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01/13/2010 4:16 PM
1100 claims in 2009

I once caught a fish this big.
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jlouden
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01/13/2010 4:17 PM
*moves hands around in constant gyrating fashion*

THIS. BIG.
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Ktrue1200
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01/13/2010 6:50 PM

Flood certified with one and a half years of  experience?

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Ray Hall
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01/13/2010 6:53 PM

I think the days of a cat. adjuster closing 1500 roof claims is over. Too much paper work required today. 30-40 years ago it was possible with 4 black poloroid shots, hand written estimate with tape and a hand written bill. This was the day you could close 10-15 per day and work 6 months a year on hail only and make an average of $90.00 per file on straight down large hail. The computer has really slowed me down.

Today if you get 40 files a month from several vendor's and average a bottom line of $150.00 net to you, you have the best job in the state. The best IA's in Houston may average $80.000 gross commish per year.

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Ray Hall
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01/13/2010 7:01 PM

I agree getting paid for auto expense and digital photos is now given away to get losses. If an IA works 480 losses per year he will drive about 30,000 miles in a metro area and much more in a rual area.  His cost to lease xactimate is $6.66 per file if he is on the best deal. The new price list in a metro area(no milage allowed, no photo,s allowed) for one of the largest carriers in the US on ANY  hail, wind, tornado F-1 to F-3 and any other physical damage pays the street adjuster on 60% for a loss of $9,999.00 $138.40 per file. Assume you get 30 and go home . If you are one of the best you will get 100-200. Hmm that is getting rich, but better than driving nails. The way to keep score is how many files did you work this season. Therefore if you can not GET 1,000 files per season its a very bad year.

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Bobabooey
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01/13/2010 8:20 PM
I agree Ray. I have argued with people until I was blue in the face that computers have hurt this business. You could have a Ray hall looking at 15 a day or you can micromanage 3 guys with 6 months experience Looking at 5 each with a computer. Back in the day they hired a pro and paid him q lot of money for the job. The pro had a lot of freedom because everything he did was not viewed by 5 different people via computers. Now they will hire anyone who can climb a ladder.
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Olegred
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01/13/2010 8:29 PM
Sorry, pals, I just really had a nice year. That is it. I am not going to reply to those who doubt the veracity of my words, it is not the point of this little discussion. The point is, basically, just to find out what the salaries are for staff guys, and so far it's 50-60 a year to start. So, who makes 100k and more among staff folks? General Adjuster? Managers? I am just trying to find a guaranteed job with 100k + and move towards it. Maybe I can make it being IA, who knows ... it's a new year and claims keep coming, so, we'll see... If I can pull 3 or more years at 120-130+ I will stay IA :) Time will show.
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Olegred
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01/13/2010 10:41 PM
As for the computers, guys, it really does not matter if you think they are "bad" or "good" for the industry. They are here, for better or worse and you better know how to use them if you want to remain marketable.
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Ray Hall
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01/14/2010 12:41 AM

I did not mean computer estimates have not helped on large complex losses. I was one of the first to go to a computer with an old DOS double disk computer on the flood losses that took 40-50 hand pages and many changes before getting an agreed price. But thats not a 3 line roof only estimate.

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Olegred
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01/14/2010 1:49 AM
Cool :) Computers are convenient, that is it. I can't even imagine my life without one. My claims come to me thru Xact, I schedule appointments thru my scheduling program, then my GPS is on the computer, I do my estimate on the computer and send it on thru one. The better you know Xact the better off you are generally, period.
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Tom Toll
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01/14/2010 12:05 PM

One thing that computer estimating has done is reduce the amount carriers will pay for each individual loss. They are under the assumption that computers make our lives easier and more expeditious. I would prefer to write a small claim on paper and mail it to them. Oh, the good old days. Computers have made us lazy, as we depend on them for line item pricing and photo mounting.

Success is not final, failure is not fatal: it is the courage to continue that counts.
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Bobabooey
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01/14/2010 1:12 PM
Olegred, imagine it like this. You get 100 claims called in to you and you get a checkbook. You go inspect a roof determine that it needs to be replaced and cut a check to the homeowner and you are done. Then you go to the next house and do the same. The company is giving you a blank checkbook so you have to be reliable. 15 homeowners get checks the day they see the adjuster. The adjuster has the ability to meet the roofer agree on a pric cut the check and close the file. At dark you are done, 15 people have chEcks in hand and you are done for the day. All 15 people had a professional experienced adjuster scoping their loss. The adjuster makes a ton of money.
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Bobabooey
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01/14/2010 1:47 PM
I have a friend who is a general adjuster with 12 years at one of the big 3. He makes 75-80 and is on the same pay level as the managers. Some of the cat team adjusters make more.
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