Are you thinking about
getting into the claims industry but are unsure of which role is best for you?
Many job seekers looking to become an independent adjuster or staff adjuster are
unaware of the job title differences, and how these differences will affect
them. Keep reading to understand the specific differences between the two:
Staff Claims Adjuster: A claims adjuster who works for an insurance
company, TPA or self-insured.
Independent Insurance Adjuster: A claims adjuster who works as a contractor for
numerous insurance companies, TPA’s or Self-Insured’s.
Stability.
Staff Claims Adjuster: As an adjuster, you can expect a Monday through
Friday, 40 hours per week work schedule, depending on what company you work
for. This role offers the stability of a guaranteed set schedule that many job
seekers tend to need.
Independent Insurance Adjuster: Your working hours will depend primarily on the
season. If a hurricane hits, you could be working 12+ hours per day to get all
of the claims handled in a timely manner. If it’s a typical season, you could
get steady work that fills up your Monday through Friday schedule or if it’s
slow, you could possibly work only a few hours per week. While this position
doesn’t offer the stability as a staff adjuster, it does offer the flexibility
that many candidates are now seeking in their next role. The freedom to choose
hours worked, as well as the frequency, is becoming more popular among job
seekers.
Benefits.
Staff Claims Adjuster: You can expect the classic corporate benefits
package, such as health insurance, paid time off (PTO), and a 401K, which many
job seekers want and need.
Independent Insurance Adjuster: Since you are a contractor, your health insurance
and 401K is your responsibility to initiate and manage. PTO consists of
managing your money and work schedule, preparing yourself to live comfortably
during the times you have no paycheck coming in.
Money.
Staff Claims Adjuster: A staff adjuster won’t
receive as big of an annual salary in the long run as an independent insurance
adjuster, but you will have stability and benefits. Additionally, you will work
40 hours per week and have PTO.
Independent Insurance
Adjuster: You’ll be given the chance to make a lot more money over time, but this
also means working more hours without the benefits or stability of a staff
claims adjuster.
Licensing.
The licensing requirements
for both an independent adjuster and a staff adjuster are becoming more and
more irrelevant because many companies are now having their employees become
state appointed as well.
Lifestyle choice.
Deciding which of these
opportunities is right for you really comes down to your lifestyle. If you’re
single and have no kids or older and the kids are out of the nest, becoming an
independent adjuster could be a great choice for you. You can work when you
choose and make more money. If you have kids or just like having a set
schedule, than choosing to be a staff adjuster would be the better option out
of the two for you.
No matter which position you
choose, Independent Insurance Adjuster or Claims Adjuster, the great thing
about the insurance industry is there are always job openings. If you do decide
to look into becoming a Claims Adjuster make sure you check out our newest
openings today and sign up to receive Insurance Job Alerts from
TheBestIRS to stay in the know.
This post was
originally published here: INDEPENDENT INSURANCE
ADJUSTER VS. CLAIMS ADJUSTER: WHAT’S THE DIFFERENCE?
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