You may ask yourself,
"How does an adjuster receive
compensation for his work?"
First, you will need to understand
that 90% of the time, you will be paid as a 1099 independent
contractor. The storm office will have you complete all the
necessary paperwork prior to receiving your assignments. The
majority of your expenses, (lodging, fuel, cell phone, etc.) will be
your responsibility. However, your income potential will greatly
exceed your daily expenses. At any Catastrophe location, you will be
given a variety of Fee Schedules from the Adjusting Company who has
been employed by a given Insurance Carrier. The Fee Schedule (see
sample below) will typically provide payment to the Adjuster based
on 60% of the indicated fee. You can see that, by inspecting and
settling a minimum of 5 losses per day, you should easily be able to
earn between $500.00 and $1,000.00 per day. There are also daily
rates offered at certain catastrophe locations. Typically, an
adjuster could receive $450.00 - $625.00 per day. Under this
arrangement, some expenses are usually reimbursed to the adjuster.
The adjusters are usually paid twice a month on files that are
closed and billed. Each company's payment schedule may vary to some
degree and it is recommended that you discuss the exact details with
the company that retains your services. We believe that after going
through our training, you will be ready to work for any adjusting
company should a Catastrophe event occur in the United
States.
Erroneous
Assignment $40.00
$0
- $500
$150.00 including 2 Photos
$501 -
$2,000 $250.00
including 3 Photos
$2,001
- $5,000
$375.00 including 4 Photos
$5,001 -
$7,500
$475.00 including 5 Photos
$7,501 -
$10,000
$575.00 including 6 Photos
$10,001 -
$15,000
$675.00 including 7 Photos
$15,001 -
$20,000 $750.00
including 8 Photos
$20,001 -
$30,000
$850.00 including 9 Photos
$30,001 -
$40,000
$975.00 including 10 Photos
$40,001 -
$55,000
$1,225.00 including 11 Photos
$55,001 -
$75,000
$1,425.00 including 12 Photos
$75,001 -
$100,000
2.3% of Loss Including 13 Photos
$100,001 and
Above 2.0%
of Loss - But Not Less Than
$2,300.00 Including 15 Photos