
Chatsworth, CA 91311-4926
An appraisal management company (AMC) surety bond is needed in many states as a licensing requirement to operate an appraisal management business.
This surety bond provides a simple way for you to document your company's financial liability requirement as outlined by the state. If there is a claim against your bond, the surety company will seek reimbursement from you, the policyholder. An AMC bond is different from business insurance in that you are paying a premium to protect your customers rather than your company.
Depending on your personal credit score and your business's financial health and history, your bond premium can range from 1% to 3% of the bond's full coverage amount.
Here are the states in which NNA Surety Bonds provides bonds for appraisal management companies, with premiums listed at 1%.
State | Bond Amount | Cost* (Annual Premium at 1%) |
---|---|---|
Alabama | $25,000 | $250 |
Arizona | $20,000 | $200 |
Arkansas | $20,000 | $200 |
Colorado | $25,000 | $250 |
Delaware | $20,000 | $200 |