Introduction
Many people are drawn to the insurance industry with dreams of making a lot of money. One avenue that often captures their attention is daily adjusting. Daily adjusting allows individuals to work from the comfort of their own homes and handle claims in their local area. But how much can daily adjusters really make? In this blog, we will explore the earning potential of daily adjusters and the factors that can influence their income.
Getting Started in Daily Adjusting
Before diving into the earning potential, it’s important to understand the pathway to becoming a daily adjuster. Generally, insurance companies are more likely to give daily claims assignments to individuals with prior claims experience, particularly in the form of catastrophe (cat) adjusting. Cat adjusting involves handling claims during natural disasters like hurricanes. It’s a trial by fire, where new adjusters are thrown into the midst of chaos and learn on the go.
However, daily adjusting is still a viable career option. Unlike cat adjusting, which is seasonal and concentrated between March and October, daily claims can happen anytime throughout the year. Daily adjusters handle a variety of claims, such as toilet overflows, vehicle strikes, house vandalism, and fires. These incidents are not dependent on weather conditions or economic factors, making daily adjusting a more consistent source of income.
Earning Potential in Daily Adjusting
Now let’s address the burning question: how much can daily adjusters make? While some individuals claim to have made substantial amounts of money, it’s essential to approach these figures with caution. Earning potential can vary based on factors like the number of claims handled and the size of those claims.
On average, daily adjusters may handle around 6 to 10 claims per week. This number can fluctuate depending on the adjuster’s location, experience, and the availability of claims in their area. High-volume weeks may see up to 15 daily claims, but these are likely to be larger, more complex claims.
It’s worth noting that the earning structure for daily adjusting is similar to cat adjusting. Adjusters are typically paid through a component or fee schedule, where they receive a commission for each claim handled. While daily claims may be fewer in number compared to cat claims, they tend to be larger in size, compensating for the lower volume. This means that daily adjusters have the potential to earn a substantial income.
The Advantages of Daily Adjusting
Despite the challenges and competition, daily adjusting offers several advantages over cat adjusting. One significant advantage is that daily adjusting provides a year-round income stream. While cat adjusters rely heavily on the storm season, daily adjusters can generate income consistently throughout the year. This stability can provide financial security and peace of mind.
Additionally, daily adjusting allows for more predictable work schedules. Daily adjusters can plan their days and appointments in advance, knowing exactly what they need to handle. This flexibility enables adjusters to maintain a better work-life balance and spend more time with their families or pursuing other interests.
Scaling a daily adjusting business is also a possibility. Daily adjusters can expand their client base by working with multiple insurance companies or through one firm that represents several carriers. This scalability allows for increased earning potential as adjusters take on more claims from different sources.
Insurance Adjusters Make
While the earning potential of daily adjusters can vary, it’s safe to say that daily adjusting offers a lucrative career option for those willing to put in the work. With consistency and a strong work ethic, daily adjusters can earn a substantial income year-round. So, if you’re considering a career in claims adjusting, don’t overlook the opportunities that daily adjusting can bring.