I recently wrote an in-depth article about the perils of renting a rent car.
Let me recap. . .
1. If you don’t purchase the damage waiver, beware.
2. Make sure your insurance will really cover “contract” liability. There are some newer policies that specifically exclude coverage for rental car damages under contract language.
3. If you didn’t purchase the damage waiver, insist upon a written inspection report on the vehicle to be rented prior to leaving in the vehicle.
If you are wondering what you might be able to do with an adjusting license, you are not alone. Outside of being a desk adjuster for an insurance company (a pretty good option for a lot of people as one can earn upwards of $50k per year after just a short while in the industry), there are not many other great options if you have no experience. First of all, don’t let anybody tell you that you can become a catastrophe adjuster with no experience. Many aspiring adjusters think they can just fall into this career because it does pay pretty well, but only during catastrophe’s, and it is just not that easy. A cat adjuster is somebody that goes out and evaluates damages to property on behalf of an insurance company. These adjusters are also called independents. A property and casualty license in Texas will allow you to “qualify” for this type of work, but it takes much more than just a license. Additionally, other certifications will likely be required, such as those required to evaluate and adjust flood damages. On top of the specialized training you will need, you will also have to invest in a great computer, great wireless technology, and great estimating software. Even then, if you don’t have some contacts in the construction and insurance industries, you will likely fall by the wayside very quickly. Anyway, so cat adjusting is something I would not suggest unless you are just hell bent on it. The other options you have are limited. I have been adjusting insurance claims of one type or another for nearly 15 years, and there are not that many opportunities to make more than $60K or $70K per year unless you are well up there in the experience range. It is experience more than education that speaks to one’s adjusting ability and prowess. If you are very well disciplined, then you might move up the line into litigation or some other specialty within 5 to 10 years, but you will have to work your way up the ladder. I have seen few exceptions to this rule, and those exceptions were based on “politics”. You know, like knowing somebody high up on the ladder. The other option I see is self employment. You would have to get some specialty licensing and I would still suggest having experience of at least 5 years before trying to delve into a business of auditing and specialty adjusting. It is difficult to master all the nuances of claims adjusting without hands on experience. If you still have questions or want more detailed information on how to become an adjuster, visit my official site and give me a call or shoot me an e-mail. I will be more than happy to tell you what I know.
I agree that insurance companies are not so inclined to pay diminished value, and people sometimes get dollar signs in their eyes when they are involved in an accident that is not their fault. The reality is that diminished value exists, but it is definitely hard to prove. There are arguments that adjusters use all the time to try and dismiss a valid claim and save a few bucks. The problem is that most of the “diminished value experts” out there have never actually been adjusters. Through a little research of my own, I have found that at least four of the companies that heavily advertise diminished value services have never even had an adjuster’s license, much less actual experience adjusting.
When I first started adjusting insurance claims, the best pay I could find was $22K per year, and when I started adjusting claims that was okay money, but I could have worked 50 hours a week at a grocery store for $9 or $10 per hour and made just as much or more.
Why is it that people can’t do a little research on their own? Resources like my website and many others are out there to help people with almost any problem. Laziness is not a virtue, hehe.
Get a free consultation today on your claim and get the answers you have been searching for!
Critical thinking is a skill that I believe everybody needs to master. Some people just don’t have the capacity to think in a critical manner, but for those of us that do, the tactics involved can help to resolve all types of problems, including insurance claims.
I recently wrote and article about critical thinking as it relates to claim negotiation. Here is a link to the full article. In summary of the article, remember these 6 seemingly simple rules (they are easy to understand, but hard to enforce upon yourself).
1. Never assume anything
2. Listen carefully
3. Keep notes
4. Research on your own
5. Remember what you believe is always an opinion (facts are only the opinion of the majority)
6. Make sure you understand before you settle
If all else fails, run away!
Did you know that if you purchase a used vehicle, the tax office will calculate the value of the vehicle and charge you taxes on their value and not what you paid for it (unless you paid more than their value comes out to)?
If you want to get around this, contact an adjuster and get a certified tax value. You can save hundreds off of used private auto sales tax!