How Much Do Claims Adjusters Make?

Salaries for insurance claims adjusters can vary from state to state in the United States. They also can differ depending on the employer and industry the claims adjuster works in. According to the U.S Bureau of Labor Statistics, the median base salary for a claims adjuster in the U.S is around $75,000 annually.

TABLE OF CONTENTS

• Claims Adjusters Salaries
  
• Top Paying Industries
  
• Where Skills Are Needed The Most
  
• Highest Paying States
  
• Who Makes The Most?
  
• How Claims Adjusters Get Paid
  
• Types of Employers
  
• Factors To Look For When Applying
  
• Claims Adjuster Benefits
  
• How to Get Started As A Claims Adjuster

Claims Adjusters’ Annual Salary

Top Paying Industries for Claims Adjusters

Below are the top paying industries for Claims Adjusters broken down by salary.

As of Dec, 2024.  Source for Top Paying Industries

Where Claims Adjusters Are Most In-Demand

Below are the industries that employ the most Insurance Claims Adjusters in the U.S.

As of Dec, 2024.  Source for Highest Employment Numbers

The Highest Paying States for Claims Adjusters

The earning potential for a claims adjuster fluctuates from state to state. Individuals in California vs. Connecticut could see significant differences in their salaries as claims adjusters.

As of Dec, 2024. Source for Top Paying States

Which Claims Adjusters Make the Most Money?

Independent adjusters who work on catastrophic claims have the potential to earn over $100,000 in a year. If the adjuster is licensed to operate in multiple states and multiple natural disasters occur within their domain, the independent adjuster could earn well over $100,000 annually. 

What Do Insurance Claims Adjusters Do? >>

How Claims Adjusters Get Paid

Adjusters will receive payment after an insurance claim is settled. Some adjusters will earn a percentage of the settlement and some earn an annual salary regardless of how the claim was settled. 

How Independent Adjusters Get Paid

Independent adjusters usually earn a percentage of the amount of each claim they settle. This process is commonly referred to as a ‘fee schedule.’ Fee schedules vary widely between insurance companies and independent adjuster firms.

How Public Adjusters Get Paid

Public adjusters can earn a flat rate, hourly rate, or a contingency fee based on the outcome of the insurance claim. Similar to an independent adjuster, public adjusters typically choose to receive a percentage of the settlement. The policyholder is then responsible for paying the firm they hired.

How Company/Staff Adjusters Get Paid

Company or staff adjusters are salaried employees of an insurance carrier. Regardless of the claim’s outcome, these adjusters will get paid their annual salary from their employer. It is also likely that company and staff adjusters will receive an annual bonus.

Types of Claims Adjuster Employers

Below are the three types of employers claims adjusters will find themselves working for.

Independent Adjusting Firms

These firms often specialize in handling large-scale claims, such as those arising from natural disasters or major incidents like fires and explosions. They provide comprehensive claims handling and support services, and often have the capacity to scale their workforce to manage significant workloads. This can offer adjusters diverse experiences and opportunities to develop expertise in complex claims.

Public Adjusting Firms

Public adjusters work directly for policyholders, assisting them in navigating the claims process and negotiating with insurance companies. Top-rated public adjusting firms have a strong track record of success in representing policyholders and securing fair settlements. This path offers adjusters a chance to advocate for individuals and families during challenging times.

Insurance Companies

Many adjusters work directly for insurance companies, handling a variety of claims related to personal and business assets. These companies often offer comprehensive training programs and opportunities for specialization within different types of claims, such as property, liability, or auto.

What Makes a Top Rated Claims Adjusters Employer?

By considering these factors and researching different types of employers, aspiring claims adjusters can make informed decisions about their career paths and find fulfilling roles within the insurance industry.The factors that contribute most a top-rated employer include:

• Strong Company Culture: A positive and supportive company culture fosters collaboration, values employee input, and promotes professional growth. Look for organizations that prioritize employee well-being and offer opportunities for development.
• Opportunities for Advancement: A clear path for career progression is essential for ambitious adjusters. Top-rated employers provide opportunities for advancement into senior roles, specialized areas of expertise, or even management positions.
• Effective Management: Strong leadership and supportive management are crucial for job satisfaction. Seek out companies with managers who provide mentorship, guidance, and opportunities for skill development.
• Competitive Compensation and Benefits: Fair pay and comprehensive benefits are essential for attracting and retaining talented adjusters. Research industry standards to understand competitive compensation packages.
• Work-Life Balance: Maintaining a healthy work-life balance is crucial in the demanding field of claims adjusting. Top employers recognize the importance of personal time and offer flexible work arrangements where possible.

Claims Adjuster Benefits

Each employer offers different benefits packages and perks. There are some benefits that are more common than others depending on which type of claims adjuster the individual is.

Independent Adjuster Benefits

Independent adjusters usually have more flexibility in their daily schedule and may have more remote positions available. This is mainly due to the nature of their assignments, which often require them to travel and gather evidence on-site. Weekly pay and discounts at hotels or car rentals can be common benefits that are unique to being an independent claims adjuster.  

Public Adjuster Benefits

The benefits that public adjusters have access to are similar to company/staff adjusters. Public adjusters usually work for firms that offer typical benefits such as retirement savings accounts, healthcare coverage, and paid time off.

In addition, they also usually have consistent work hours and access to company-issued laptops and company vehicles for traveling. 

Company/Staff Adjuster Benefits

Being a company or staff adjuster comes with traditional employment benefits such as steady paychecks, training, professional development, retirement savings accounts, healthcare coverage, and paid time off.

Where Can a Job in Insurance Claims Lead?

Becoming a claims adjuster will immerse you into the insurance industry and give you the ability to move into management or analyst positions. Some claims adjusters decide to transition to sales or business development positions with forensic engineering firms or equipment restoration companies.

How To Get Started As a Claims Adjuster

Most individuals interested in becoming a claims adjuster will need to have at least a high school diploma and be able to pass an insurance licensing exam.