Insurance adjustment work?

I’m just getting my business setup and off the ground and was approached by a friend who owns an insurance adjustment company with a business proposition. He currently only does auto claims but many of the insurance companies he does work for are really pushing him to get into the property claims. With my background in construction and now that I’m a licensed Home Inspector in my state (MD) – he thought it might be a mutually beneficial "pool’ to dip our feet into. He was thinking a 60/40 split on what he is paid for each property claim…

I know there is now an InterNACHI course to become a Licensed Insurance Adjuster for Florida (which I’m starting) – but I was wondering if anyone else does any insurance adjuster work?

Did homeowner’s insurance adjusting for several years back in the 90’s when my construction business got slow. Used Marshall & Swift/Boeckh software for estimating, depreciation, and replacement cost valuations. Always a fight with the homeowner because they would submit outrageously inflated estimates from contractors who were trying to cover deductibles and looking for kickbacks.

Thanks for the feedback Stephen… I have a lot more research to do on it for sure. I just figured it may not be a bad idea to make some extra $$$. Any little bit helps… But I can totally see what you’re talking about regarding fighting with the Home Owners and inflated estimates.

If you are going to do insurance claims why split 60/40 . That’s subcontracting.find your own company to work for and get 100%. If InterNACHI is offer course ,I sure nick or Ben with help with contacts to get work from. Bob obrien

I was a property adjuster for over 20 years. 70/30 is a more realistic split. You will have a lot if expenses, including $250 ,a month to rent an acceptable estimating program. Do a lot of reasearch. You will need a lit of classes to get certified and licensed.

Hey Robert – so my friend has his own insurance adjuster company, but only does AUTO’s at this point. He offered to pay for the software and do a 60/40 split on the amount he’s paid for the claim. I’m in Maryland – this is no license for claims adjusters… With him paying for the software and already having an “In” with a bunch of insurance companies… It looks like a no brainer for me… I would still do the InterNACHI Florida Adjuster class… and have to reach out and check on my insurance.

Hi Michael,
I changed my career 18 years ago,from the Elevator / Escalator business where I Am a Licenced Millwright / Inspector. I have thus been an Adjuster / Assessor for 18 years now, with construction experience thrown in, and due to moving to a new “State” as you call them 8 years ago, I was not registered to work there and was not known. I thus started in the Inspection business some 7 years ago in order to diversify and found the demand in our Country to be very low. My licence and accreditation to continue the Assessment business was granted 6 month’s later.
As a result, I joined BNI 5 years ago, and promoted my business via that face to face forum. This was also slow as I believe my focus was incorrect by promoting the “slow” business first and foremost. I also tried a 50/50 split with a Realty Company, which to me was a disaster and was very short-lived.
During this process however, I gained a number of referrals for business, one of which resulted in a further diversification and natural progression to Insurance Inspections for Underwriters. This was a major leap in my business, which has created a highly successful business in all 3 sections of my business. I have increased my turnover by 483% in the 8 years. Incidentally, the Inspection business is still the slowest section of my business, but I have gained the reputation for seriously detailed and unbiased reporting. There are a number of factors which I can therefore share as a recommendation, and I work totally SOLO.

  1. Get as much accreditation and knowledge as you can. The InterNachi courses are highly recommended and set the Standards which are acknowledged World-wide
  2. Do as much self promotion as you can, preferably face to face such as BNI (it was my saviour)
  3. Apply for as many Insurance Panel Accreditations as an Adjuster / Inspector that you can - preferably via the Underwriters.
    In very short terms, go 100% on your own and good luck.