Career and Education Opportunities for Insurance Appraisers in Boston, Massachusetts
Insurance appraisers can find both educational opportunities and jobs in the Boston, Massachusetts area. Currently, 870 people work as insurance appraisers in Massachusetts. This is expected to grow by 5% to 910 people by 2016. This is better than the national trend for insurance appraisers, which sees this job pool growing by about 0.5% over the next eight years. In general, insurance appraisers appraise automobile or other vehicle damage to determine cost of repair for insurance claim settlement and seek agreement with automotive repair shop on cost of repair.
Insurance appraisers earn about $28 hourly or $58,970 per year on average in Massachusetts and about $25 per hour or $53,440 yearly on average nationally. Insurance appraisers earn less than people working in the category of Adjustment and Analysis generally in Massachusetts and less than people in the Adjustment and Analysis category nationally. Insurance appraisers work in a variety of jobs, including: total loss specialist, auto body repair estimator, and physical damage appraiser.
The Boston area is home to 151 schools of higher education, including one within twenty-five miles of Boston where you can get a degree as an insurance appraiser. Insurance appraisers usually hold a Bachelor's degree, so you can expect to spend about four years studying to be an insurance appraiser if you already have a high school diploma.
CAREER DESCRIPTION: Insurance Appraiser
In general, insurance appraisers appraise automobile or other vehicle damage to determine cost of repair for insurance claim settlement and seek agreement with automotive repair shop on cost of repair. They also prepare insurance forms to indicate repair cost or cost estimates and recommendations.
Insurance appraisers estimate parts and labor to repair damage, using standard automotive labor and parts cost manuals and knowledge of automotive repair. They also inspect repair cost estimates with automobile repair shops to secure agreement on cost of repairs. Equally important, insurance appraisers have to examine damaged vehicles to establish extent of structural or interior damage. They are often called upon to evaluate practicality of repairs as opposed to payment of market value of vehicles before accident. They are expected to decide on salvage value on total-loss vehicles. Finally, insurance appraisers arrange to have damages appraised by other appraisers to deal with disagreement with shops on repair cost.
Every day, insurance appraisers are expected to be able to articulate ideas and problems. They need to listen to and understand others in meetings.
Somewhat less frequently, insurance appraisers are also expected to arrange to have damages appraised by other appraisers to deal with disagreement with shops on repair cost.
Insurance appraisers sometimes are asked to ready insurance forms to indicate repair cost estimates and recommendations. And finally, they sometimes have to inspect repair cost estimates with automobile repair shops to secure agreement on cost of repairs.
Like many other jobs, insurance appraisers must be reliable and be able to deal with stress and deal with situations calmly.
Similar jobs with educational opportunities in Boston include:
- Assessor. Appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
- Business Management Analyst. Conduct organizational studies and evaluations, design systems and procedures, conduct work simplifications and measurement studies, and prepare operations and procedures manuals to assist management in operating more efficiently and effectively. Includes program analysts and management consultants.
- Coroner. Direct activities such as autopsies, pathological and toxicological analyses, and inquests relating to the investigation of deaths occurring within a legal jurisdiction to determine cause of death or to fix responsibility for accidental, violent, or unexplained deaths.
- Cost Analyst. Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.
- Emergency Management Coordinator. Coordinate disaster response or crisis management activities, provide disaster preparedness training, and prepare emergency plans and procedures for natural, wartime, or technological disasters or hostage situations.
- Income Tax Advisor. Prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.
- Insurance Adjuster. Investigate, analyze, and determine the extent of insurance company's liability concerning personal, casualty, or property loss or damages, and attempt to effect settlement with claimants. Correspond with or interview medical specialists, agents, or claimants to compile information. Calculate benefit payments and approve payment of claims within a certain monetary limit.
- Insurance Underwriter. Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
- License Examiner. Examine, evaluate, and investigate eligibility for, conformity with, or liability under licenses or permits.
- Personal Financial Planner. Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. Duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
- Real Estate Appraiser. Appraise real property to determine its value for purchase, sales, or loan purposes.
EDUCATIONAL OPPORTUNITIES: Insurance Appraiser Training
Boston University - Boston, MA
Boston University, One Silber Way, Boston, MA 02215. Boston University is a large university located in Boston, Massachusetts. It is a private not-for-profit school with primarily 4-year or above programs. It has 31,669 students and an admission rate of 59%. Boston University has a master's degree program in Insurance which graduated twenty-nine students in 2008.
Associate in Insurance Services: The Associate in Insurance Services program is a nationally recognized educational program designed specifically for insurance personnel.
For more information, see the American Institute for CPCU and Insurance Institute of America website.
Collision Repair and Refinish: Damage Analysis and Estimating : The ASE Damage Analysis and Estimating (B6) Test complements the other tests in the Collision Repair Test series that identify and recognize collision repair technicians and refinishers.
For more information, see the National Institute for Automotive Service Excellence website.
Accredited Marine Surveyor : Our Accredited Marine Surveyor® (AMS®) members must have a minimum of 5 years experience and must pass a written examination by our testing committee in order to earn his or her AMS® credential.
For more information, see the Society of Accredited Marine Surveyors website.
MOTOR VEHICLE DAMAGE APPRAISER
Licensing agency: Division of Insurance
Address: One South Station, Boston, MA 02110
Phone: (617) 521-7794
Website: Division of Insurance
LOCATION INFORMATION: Boston, Massachusetts
Boston is situated in Suffolk County, Massachusetts. It has a population of over 609,023, which has grown by 3.4% over the last ten years. The cost of living index in Boston, 136, is far greater than the national average. New single-family homes in Boston are valued at $216,200 on average, which is well below the state average. In 2008, twenty-three new homes were constructed in Boston, down from forty-eight the previous year.
The three most popular industries for women in Boston are health care, educational services, and professional, scientific, and technical services. For men, it is professional, scientific, and technical services, educational services, and accommodation and food services. The average travel time to work is about 29 minutes. More than 35.6% of Boston residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 15.3%, is higher than the state average.
The unemployment rate in Boston is 8.2%, which is less than Massachusetts's average of 8.4%.
The percentage of Boston residents that are affiliated with a religious congregation, 60.0%, is more than the national average but less than the state average. Brighton Congregational Church, Leslie Lindsay Chapel and Universalist Meeting House are some of the churches located in Boston. The largest religious groups are the Catholic Church, the Muslim Estimate and the Episcopal Church.
Boston is home to the Metropolitan Water Works Pumping Stations and the Mystic Pier 1 as well as Schoolboy Stadium and Liberty Square. Shopping centers in the area include Legion Shopping Center, Longwood Galleria Shopping Center and Neponset Circle Shopping Center. Visitors to Boston can choose from Federalist Restaurant, Eco-Logical Solutions and Omni Parker Hotel for temporary stays in the area.