Claims Adjuster Salary
An average Claims Adjuster in the United States can expect to take home roughly $49K annually. Including potential for bonuses and profit sharing — peaking near $7K and $7K, respectively — total cash payment to Claims Adjusters can bottom out near $35K or peak near $69K depending on individual performance. Experience level is the main element affecting pay for this group — geography and the individual firm are driving factors as well. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 55 percent. Job satisfaction for Claims Adjusters is high. Medical benefits are awarded to most, and a large number earn dental coverage. This overview is based on answers to PayScale's salary questionnaire.
|Salary||$37,764 - $68,670|
|Bonus||$100.00 - $6,350|
|Profit Sharing||$400.00 - $7,070|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$35,432 - $69,524|
|Hourly Rate||$14.06 - $26.05|
|Overtime||$18.12 - $45.10|
|Bonus||$100.00 - $6,350|
|Profit Sharing||$400.00 - $7,070|
|Total Pay (||$35,432 - $69,524|
Job Description for Claims Adjuster
A claims adjustor is the point person for an insurance company when the company receives a claim. They normally travel to a location and inspect damage, make notes, and ask questions. The claims adjustor assesses information and make recommendations for how the insurance company proceeds in resolving the claim.Read More...
Because the claims adjustor usually deals with individuals in high-stress situations, they must have a professional and compassionate demeanor. They must frequently ask difficult questions to thoroughly perform their job duties. Claims adjustors also must have an ability to write clearly, as they will be reporting their findings to superiors. Because of the nature of the job, this position frequently involves travel and may involve irregular hours.
A successful claims adjustor may need an associate’s or bachelor's degree, and, in almost all situations, they need some background in writing and evaluating estimates for repair or replacement. Many companies hire assistants to claims adjustors as a method of training and mentoring these employees before promoting them to claims adjustor. Most large insurance companies also offer extensive training on an ongoing basis for this position.
The claims adjustor must have excellent communications skills and must be comfortable with basic computer software, including word processing and spreadsheets. (Copyright 2017 PayScale.com)
Claims Adjuster Tasks
- Investigate and analyze insurance claims to determine extent of insurance company's liability.
- Negotiate settlement of claims, calculate and authorize payment of claim settlements in accordance with policy and coverage.
- Compile information derived from correspondence with claimant, witnesses and medical specialists.
Common Career Paths for Claims Adjuster
Claims Adjusters may experience a large salary bump if they progress into a role such as Insurance Claims Manager. The latter position pays an average of $72K annually. More often than not, a Claims Examiner or Investigator role is the next step for Claims Adjusters moving up in the field. Pay for Claims Examiners and Investigators is usually $45K. Many Claims Adjusters choose to take on a Senior Claims Adjuster role instead, where salaries are typically $65K.
Claims Adjuster Job Listings
Popular Employer Salaries for Claims Adjuster
Allstate, Geico, Progressive Casualty Insurance Company, State Farm Insurance Company, and Farmers Insurance Group are top-notch employers for Claims Adjusters in this area. Salary cannot be beat at The Travelers Companies, Inc., where median pay comes to $59K. The range seems somewhat confined, however; the lower end sits at $51K, and the higher end is not far away at $80K. Those in search of high salaries should also consider The Hartford Financial Services Group, Inc., State Farm Insurance Company, and Metropolitan Life Insurance Company (MetLife), top-paying firms where Claims Adjusters rake in a $56K, $54K, or $53K, respectively.
Geico doles out the lowest salaries in town — median pay is $42K — not to mention workers can only make as much as $57K and scope of pay is rather limited. Sedgwick, Usaa Insurance, and Esurance, Inc. also rank near the bottom for pay, handing out $43K, $45K, and $46K-paychecks on average.
Popular Skills for Claims Adjuster
Survey results suggest that Claims Adjusters put a wide range of professional skills to use. Most notably, skills in Investigation, Construction Estimating, Litigation Case Management, and Insurance are correlated to pay that is above average, with boosts between 11 percent and 13 percent. Those listing Typing as a skill should be prepared for drastically lower pay. Oral / Verbal Communication and Bilingual also typically command lower compensation. Those proficient in Claim Handling are, more often than not, also skilled in Negotiation.
Pay by Experience Level for Claims Adjuster
Pay by Experience for a Claims Adjuster has a positive trend. An entry-level Claims Adjuster with less than 5 years of experience can expect to earn an average total compensation of $44,000 based on 840 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Claims Adjuster with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $53,000 based on 344 salaries. An experienced Claims Adjuster which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $57,000 based on 335 salaries. A Claims Adjuster with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $66,000 based on 119 salaries.
Pay Difference by Location
Los Angeles is home to an above-average pay rate for Claims Adjusters, 19 percent higher than the national average. Claims Adjusters can also look forward to large paychecks in cities like Houston (+10 percent), Orlando (+8 percent), Chicago (+7 percent), and New York (+4 percent). The lowest-paying market is Oklahoma City, which sits 24 percent below the national average, proving that location is a significant contributor to overall pay. Employers also pay below the national average in Indianapolis (12 percent lower) and Tampa (10 percent lower).
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Key Stats for Claims Adjuster
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