The national flood insurance program or NFIP is nothing but the insurance arm of the federal emergency management agency (FEMA) in the USA. Flood losses tend to be the most costly and if you are taking any flood insurance, you can file for a claim and get your money back. FEMA/NFIP is developing a flood adjuster program, which allows designated claims to adjust companies to train and certify adjusters with less than 4 years of experience. In this article, you will get to know about how to become a flood adjuster in the USA.
The application of NFIP requirements is split into 5 sections. They are
- Residential (Dwelling)
- Manufactured (Mobile)
- Home/Travel trailer, small commercial (General property)
- Large commercial (general property)
- Condominium (RCBAP)
Even though they are split into 5 different sections, they are majorly classified as the residential, mobile home, travel trailer, and large commercial general property, RCBAP.
Requirements for Residential, mobile home, and travel trailer
The following are some of the requirements for a residential program.
- The residential requirements need 4 years of the consecutive full-time property with loss adjusting.
- You should have the capability of estimating a mobile home to the cost of $50,000 or a residential home cost to $25,000 and the commercial losses to $500,000.
- You should demonstrate the standard flood insurance policy in the NFIP adjustment criteria for all flood insurance policy forms.
- You should know about the mobile home, travel trailer, increased compliance, and coverage criteria.
In addition to this, FEMA also encourages you to have the errors and omissions insurance policy.
Requirements for large commercial and RCBAP
The following are the different set of rules for the large commercial and RCBAP (Residential Condominium Building association policy)
- You should have at least 5 full consecutive years of property adjusting.
- You have to be able to adjust a large commercial loss of up to $500,000 and RCBAP up to 1,000,000.
- Once after it is required, you have to attend the annual NFIP claims the presentation and provide written recommendations from 3 insurance company supervisors or claims management personnel.
How to become a successful flood adjuster?
In order to become a successful flood adjuster, you have to follow the below-mentioned points.
- You should know about how professionals communicate with policyholders during a stressful time.
- You have to know about how to write estimates that include all the damages for recommendation to the carrier.
- You should know about how to take correct photos in order to produce the document for the loss.
- It is recommended to know about how to write reports and organize them in such a manner to submit to the carrier.
- You should know about the ways in which to set reserves for the loss.
- You have to know about how to recommend the advance payments for your clients.
- Should know about how the policyholder signed the proof of loss.
- You should have known about how to do this as efficiently as possible in order to reduce the cycle claim time.
If you follow these steps, you can become a successful flood adjuster in the USA.