Insurance Appraisers Auto DamageInsurance Appraisers, Auto Damage salary statistic
Insurance Appraisers Auto Damage Salary Report: Job Description
An auto damage appraiser determines the level of damage done to vehicles in automobile accidents in order to help determine how much damages should be paid to claimants. In some cases, this requires personally evaluating the condition of vehicles and the extend of damage done. In other cases, the appraiser works with mechanics or auto body specialists to determine the amount and cost of damage. In some cases, they simply review estimates and other paperwork provided by these contractors. This usually happens when the insurance company has established a relationship with these businesses previously.
In addition to determining the amount of damage done, appraisers must also obtain statements from those involved in the accident. This is done to help determine who was at fault or if fault lies with more than one party. For example, the amount paid out in a damage claim might be reduced if the driver was speeding. In other cases some of the damages paid may be charged to the local or state government if poor road conditions or malfunctioning traffic signals paid a role.
Appraisers often spend their days traveling from one location to another in an insurance appraisers vehicle. This is to examine vehicles in person. However, if an automobile is driveable, the insured may drive to the insurance office to have the appraisal done there. Some insurance companies leave the task of obtaining estimates to the insured. Typically the insured is asked to get multiple estimates so that the appraiser can base their estimate on the lowest bid.
This field requires computer literacy and interpersonal skills. It also requires customer service skills and the ability to work with others in the insurance office. The appraiser must balance their obligation to obtain a fair appraisal for damage done and to ensure that the customer is treated fairly with the need to protect the interests of their employer and to avoid paying out excessive damage claims. They must also be able to recognize when another entity should be held financially liable as well.
Insurance Appraiser Salary Report: Educational Requirements
At minimum this job requires a high school diploma or GED. In order to earn the highest possible auto insurance appraiser salary, however a degree is often required. Some people entering this field have prior experience in auto repair. It is not unusual for retirees to pursue this on a part time basis.
In addition to experience and education, making an auto damage adjuster salary also requires obtaining a license or certification. This often requires taking continuing education courses and taking a test through a certification authority. Experience, education, and licensing all play a role in how high a Geico auto damage adjuster salary.
Auto Damage Appraiser Salary Range
The median salary earned by an insurance appraiser is just over 55K. However the range goes from 39K to 70K. When appraisers work full time, they nearly always receive insurance benefits, profit sharing, and retirement. Experience and familiarity with the workings of the insurance industry are significant factors in both earnings potential and employability.