Hourly vs Fee Schedule: which one is better for new adjusters? (and TONS more)
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- čas přidán 6. 06. 2022
- By independent adjusters FOR independent adjusters
Thomas is a new adjuster who is interested in learning more about certifications, gear, and how to stand out on resumes and interviews. We cover a lot of ground in this one:
- How to use the Haag field books
- Haag Certified Reviewer program
- How many claims should a new adjuster be able to close on their first storm?
- Learn Xactimate and Symbility
- Why certifications aren't the most important thing
- How getting rope and harness certification and gear can make you more money
- Which licenses to get to start
- Why Minnesota is a critical license
- NY license
- Which licenses for remote work
- How to practice claims at home
- Hourly vs fee schedule
- Why you should import and label photos on site always
- How adjuster metrics work
- The importance of networking and how to do it
- The firms are desperate for good people and how this benefits you as an adjuster
- Why you should join NACA
- Are all hurricane claims total losses?
AdjusterTV has a brand new COMPLETE Xactimate X1 training for beginners: www.adjustertv.com/x1
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MERCH
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TRAIN WITH MATT
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www.adjustertv.com/symbility
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DISCOUNTS ON TRAINING AND GEAR
Get 10% off of anything at HAAG including training, books, and tools with code ADJUSTERTV
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ESSENTIAL GEAR, APPS, AND SOFTWARE:
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FREE GUIDES
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Pacesetter Claims Service:
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PARTNERS
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The biggest party and networking event for adjusters:
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#claimsadjuster #insuranceadjuster #xactimate #symbiity #haildamage #roofing #insurancecareer
Much appreciated thanks for all you do
Thank so much, this information is so helpful!
Valuable information, thank you.
As a new adjuster you should you be independent or work in the office which is better with no experience
When completing the estimate on the claim? Where do the prices come from? Is this information that the firm you are working for provides you?
I'm seeing "Time and Expense" on some fee schedules. Does that mean the adjuster get hourly pay PLUS the fee schedule?
To start as an adjuster lets say i start in auto for a major company to get experience and get trained how do i go to floods, hail, type of claims are these considered catastrophe claims? And how about daily claims how can I start with those?
I have a question that might have a simple answer but I have not been able to find a good answer online.
Can I accept two virtual/desk adjuster positions from different insurance carriers? They are both hourly paying jobs that would be done from home.
Thank you
Depends. If you're talking about virtual field I would easily say yes unless you're deployed to a major storm site. If you're just running virtual claims around town no problem. As far are desk goes, that all depends on what arrangement you have with the firm. If they expect you online all day to handle whatever comes in, I personally would think twice about trying to double up. I'm sure it can be done, but I probably wouldn't do it, at least starting out.
I’m very proficient in Xactimate but I can’t seem to get any training on scoping. Hand me a sheet telling me measurements and Al claim info and I can knock that claim out. Do you know how I can get the scoping training? Pilot and mile high club I’ve been too but not a lot of training on scoping
www.adjustertv.com/plus is going to be my go-to answer on this. I've shot several scoping vids and have posted them inside of AdjusterTV Plus. Plenty more to come as well!
Probably a dumb question, i just want to understand this process.
I always here people talking about dealing with contractors and public adjusters, but what is the PROCESS of dealing with a contractor or public adjuster like?
.Are you simply comparing your estimate with theirs and that’s it?
.Do you even have to look at/ take into consideration the estimate they write or is it just a courtesy thing? After all your the adjuster, the IA firm is paying you to write an estimate based on what you see
.will the contractor or PA’s estimate be sent to the carrier along with your estimate, so they can compare the two?
.Do you need to give the PA/Contractor your contact info (email/phone number) so they can send you their estimate or do they somehow already have your contact info?
.Also how can you possibly close what you scope each day if your “constantly going back and forth with a PA” of if the PA is “Dragging out the claim”?
I always thought that after you write your estimate then your done with that claim and if it reopens somebody else is assigned to it- (at least on CAT)
.
Good questions:
1. Depending on where you're doing claims and what type they are you may be often dealing with contractors and PAs or never dealing with them. Midwest wind/hail storm adjusters will seldom meet a PA. Miami/NY hurricane adjusters might meet them on many claims. You'll often meet with contractors/roofers on Midwest wind/hail. My strategy was to get an agreed scope and pricing while on site with the guy. Rare reopens that way - but it requires writing your estimate on site while he's still there - or at the minimum making sure you both agree on what you're going to write up - he'll often hand you a printed copy of his estimate (or email it).
2. You are required to write as much as you can within the confines of the applicable policy and the carrier's estimating guidelines. Often the differences in pricing come down to the contractor including things you just can't pay for - eg., the insured doesn't currently have ice and water shield and it's not a code requirement, but the roofer has it on his estimate. Or there's a shingle upgrade (insurance doesn't pay for upgrades, typically).
3. You are not required to match every PA or contractor's estimate. I will absolutely look very carefully at their estimate to make sure that I didn't miss anything. Most of the time, if you write an accurate estimate, you'll be close enough to the contractor's estimate. Takes skill and experience.
4. You'll get contractor/PA estimates any number of ways - email, already attached to file, handed to you, etc. If you receive an estimate from a third party you should always attach it to the file so that's part of the record.
5. I always ask for the guy's card or get his or her contact info from the insured. Call him and make sure that they'll be present for the inspection and note that conversation in your diary along with their contact info.
6. As mentioned above, you write to the extent of your ability and if the PA is still higher you just let them know the things you can't pay for and send your file up. If the carrier wants to make exceptions for things like porta potties, food trucks, temporary rest tents, blah blah blah then that's their discretion. You make sure that you're not missing anything, you address all the things you just can't pay for with the PA and in your file, and send that sucker up and move on. There really shouldn't be a bunch of back and forth or dragging anything out, at least on storm claims. But always document any conversation you have with a PA or contractor in great detail, explain the things on his estimate that you can't pay for, and make sure that you explain things to the insured as well (if it's a contractor). Then move on
7. If the claim reopens while you're still on the cat site there's a good chance that it'll be assigned to the first adjuster - that's for continuity for the homeowner and the fact that you know the claim the best as the initial adjuster. They may have a cleanup crew that handles the supplements and reinspections after most of the other adjusters have gone - it's a good idea to volunteer for cleanup as it will let you see other adjusters' work - good and bad.
Ultimately, the back and forth/dragging out stuff happens when adjusters underwrite their estimates, whether out of lack of skill or laziness - both are common. Strive to not miss damage and to write proper estimates and I think you'll find that you're not having to spend all your extra time hashing it out with PAs and contractors. And your firms and the carrier will love you for not creating extra work for them when you're gone from the cat site.
That is an excellent response from Adjuster Tv. Spot on!
@@AdjusterTV Thx for the response! Very helpful! There’s a few topics that relate to this line of work that I somewhat understand but am not 100% sure about! You definitely helped me on this one! Great content and keep it up. This channel has helped me out a lot!
Monroe Louisiana is Texas.
Can not van