Career and Education Opportunities for Insurance Appraisers in Newark, New Jersey
Insurance appraiser career and educational opportunities abound in Newark, New Jersey. The national trend for insurance appraisers 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 $26 hourly or $54,140 yearly on average in New Jersey and about $25 hourly or $53,440 per year on average nationally. Earnings for insurance appraisers are not quite as good as earnings in the general category of Adjustment and Analysis in New Jersey and not quite as good as general Adjustment and Analysis category earnings nationally. People working as insurance appraisers can fill a number of jobs, such as: reinspector, appraiser, and field inspector.
There is one school within twenty-five miles of Newark where you can study to be an insurance appraiser, among 318 schools of higher education total in the Newark area. 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 Newark 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
St. John's University-New York - Queens, NY
St. John's University-New York, 8000 Utopia Pky, Queens, NY 11439. St. John's University-New York is a large university located in Queens, New York. It is a private not-for-profit school with primarily 4-year or above programs. It has 20,109 students and an admission rate of 56%. St. John's University-New York has one to two year, bachelor's degree, master's degree, and post-master's certificate programs in Insurance which graduated three, fifteen, twenty-six, and zero students respectively 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.
LOCATION INFORMATION: Newark, New Jersey
Newark is located in Essex County, New Jersey. It has a population of over 278,980, which has grown by 2.0% in the past ten years. The cost of living index in Newark, 140, is far greater than the national average. New single-family homes in Newark are priced at $83,500 on average, which is far less than the state average. In 2008, ninety-nine new homes were built in Newark, up from twenty-nine the previous year.
The three big industries for women in Newark are health care, educational services, and finance and insurance. For men, it is construction, administrative and support and waste management services, and accommodation and food services. The average commute to work is about 32 minutes. More than 9.0% of Newark residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 3.0%, is lower than the state average.
The unemployment rate in Newark is 14.8%, which is greater than New Jersey's average of 9.3%.
The percentage of Newark residents that are affiliated with a religious congregation, 57.0%, is more than the national average but less than the state average. First Mount Zion Baptist Church, First Newborn Tabernacle Church and First Presbyterian Church are among the churches located in Newark. The most common religious groups are the Catholic Church, the Muslim Estimate and the American Baptist Churches in the USA.
Newark is home to the Clinton Branch Newark Public Library and the Brills Yard as well as Rippel Field and River Bank Park. Visitors to Newark can choose from Fairfield Inn and Suites, Days Hotel Newark Airport and Broad Street Hotel LLC for temporary stays in the area.