Why do claims adjusters need insurance?
As an independent insurance adjuster, you know the risks facing your small business. A lawsuit filed by a client could jeopardize your company if you don’t have proper coverage. Claims adjuster insurance can cover legal expenses, medical bills, and property damage after an unexpected event.
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Insureon helps claims adjusters compare quotes from top U.S. insurance providers online.
Get several quotes with a single easy online application.
What types of insurance do claims adjusters need?
These insurance policies cover the common risks faced by claims adjusters.
General liability insurance
This policy covers basic claims adjuster risks, such as customer property damage and injuries. Bundle with property insurance for savings in a business owner’s policy.
- Slip-and-fall accidents
- Personal injury lawsuits
- Libel and slander lawsuits
Errors and omission insurance
This policy is also called professional liability insurance. It can help cover legal expenses if a claims adjuster is sued for unsatisfactory work, such as an inaccurate appraisal.
- Compensation disputes
- Work mistakes or oversights
- Accusations of negligence
Business owner’s policy
A business owner’s policy, or BOP, is a cost-effective way for claims specialists to buy general liability coverage and commercial property insurance together.
- Customer injuries
- Damaged customer property
- Damaged business property
Workers’ compensation insurance
Most states require workers' comp for claim adjusting firms that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.
- Employee medical expenses
- Disability benefits
- Legal costs
Commercial auto insurance
Commercial auto insurance helps pay for expenses after a claims adjuster's vehicle is involved in an accident. Each state has its own requirements for auto liability insurance.
- Property damage caused by your vehicle
- Auto accident medical costs
- Vehicle theft and vandalism
Cyber insurance
This policy helps claims adjusters recover financially from data breaches and cyberattacks. It's strongly recommended for any small business that handles sensitive information.
- Customer notification costs
- Fraud monitoring services
- Regulatory fines
How much does business insurance cost for insurance professionals?
Independent claims adjusters will pay less for insurance than larger companies.
Factors that affect premiums include:
- Insurance products and services offered
- Business property and equipment
- Business income
- Types of insurance purchased
- Policy limits and deductibles
How do I get claim adjuster insurance?
It's easy to get claims adjuster business insurance if you have your company information on hand. Our application will ask for basic facts about your business, such as revenue and number of employees. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:
- Complete a free online application
- Compare insurance quotes and choose policies
- Pay for your policy and download a certificate
Insureon's licensed insurance agents work with top-rated U.S. providers to find the right insurance coverage for your claims adjuster business, whether you work independently or hire employees.
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