“How much does an insurance adjuster usually make?”
Dmitry asks Bo Williamson, who is the founder of Noble Public Adjusting Group in Panama City Beach, Florida.
“A PA makes way more money than a regular adjuster. I would say a regular adjuster probably makes $75,000 a year,”
Williamson says, adding that many regular insurance adjusters want to work in the public adjusting sector.
Williamson also says income levels for regular adjusters varies. It just depends how often they travel for storms and other natural disasters.
The hectic travel schedule of a regular adjuster is partly why Williamson founded the Noble Public Adjusting Group. He wanted to go home to his family every night and also have a more consistent work schedule.
And being a public adjuster offered just that, as well as job security.
“The reason why I got into public adjusting is from studying the bible,”
Williamson explains.
“If you study bible prophecy, in the future, things generally just get worse. The weather gets worse. The vandalism gets worse. The people get worse. You have arson. You have fraud. You have all of these things get worse,”
he says, highlighting a plethora of reasons for why insurance adjusters will always be needed.
“Thanks for giving us hope,”
Dmitry calmly chuckles.
“Your hope is the blessed hope,”
Williamson responds.
For as religious as Williamson claims to be, there are many people in the insurance industry who despise what he does.
“You know who shares the most hate for public adjusters is some insurance agents,”
Williamson mentions.
“Some insurance agents hate us, and the reason why is because of how they get paid. We make their loss ratios go up. It really is a testimony to how good we are,”
adds Williamson.
He then goes on to explain how crooked the entire insurance paradigm is.
“Think about this,”
he begins.
“An agent is in a bad situation because the bible says you can’t serve two masters. So, who’s your master? The insurance company is paying you but the homeowner is your customer.”
“Essentially, the homeowner is paying you,”
Dmitry clarifies.
“The homeowner is paying you [the insurance adjuster] and then you’re giving the money to the insurance company, and the insurance company is giving you money back,”
Williamson attests.
The entire setup is terrible because, as Williamson puts it,
“now you have an adversarial relationship.”
This is why so many homeowners are left feeling mystified when they don’t receive fair compensation on their homeowners’ claims.
Keep in mind:
Insurance agents try to save their companies as much money as possible so they can receive bonuses. Without those bonuses, there is no real money in being an insurance agent, and therefore why consumers are being nickel and dimed at every opportunity.
This is where Williamson comes in. His job is to hold insurance companies accountable so that homeowners can save as much money as possible.
Even though Williamson has the consumers’ best interests in mind, there are a few things he can’t do for his clients.<>/p
“A public adjuster can’t represent you in court. We can’t do the work [on the home] in most states. In Illinois, you can be a contractor and a PA on the same job, but in most states, you can’t do that,”
he shares.
Still, unlike the major insurance companies, the key to Williamson’s success is valuing the customers he serves. To best do that, Williamson has assembled a team of honest and hard-working adjusters who embody the same characteristics as him.
Oddly enough, all his adjusters share the same physical stature.
Dmitry jokes that Williamson’s office looks like a recruiting hub for local bodybuilders.
“We have a lot of military guys,”
Williamson says with a smile.
“I’ve recruited a couple people from the gym. If I recruit somebody like that, it’s because I’ve been watching them for a while and I see that they have work ethic.”
Not everyone can be a bodybuilder, but everyone can work hard and do the right thing.
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