Indiana Surety Bonds

Surety Bond Requirements in IN

The State of Indiana requires several different kinds of surety bonds to allow professionals, contract workers, and companies to do business in the state. You must be bonded in Indiana if you are a collection agent, construction contractor, mortgage broker, or public adjuster.

Indiana contractor license bonds are specified by county and municipal governments, and therefore vary in how you apply for them and what the bond coverage amount must be. With the exception of contractor bonds, all of the other bonds are required by state agencies.

If you need a bond to comply with Indiana regulations, we can help. NNA Surety Bonds has been providing policies to companies and individuals across the United States since 1957.

We offer the following surety bonds in the State of Indiana:

Collection Agency Bond

The Indiana Secretary of State requires collection agencies to post a $5,000 surety bond. The premium for this bond is $100. The bond agreement states that you, the debt collector, will comply with the rules and regulations for collection agencies as set forth in Indiana Code 25 Article 11. Unlawful acts include, but are not limited to, failing to pay proceeds of a collection to a client, failing to deposit said money in a special local depository, and failing to keep records of money collected and remitted.

Contractor’s License Bond

In Indiana, contractor bonds are required at the city or county level and generally range from $5,000 to $20,000. The bond premium can be as low as $100 for the $5,000 bond.

Contractor license bonds are mandated by municipalities to protect individuals and local governments by providing a financial remedy in the event that a contractor should fail to adhere to local laws and building codes or fail to pay all required taxes.

Mortgage Broker Surety Bond

Mortgage brokers in Indiana must post a surety bond of $60,000 through the Nationwide Multistate Licensing System (NMLS). The required bond coverage amount depends on your previous year’s loan volume, as determined by the Indiana Securities Division. This bond is designed to protect consumers from harm caused by fraud or other wrongful acts by the mortgage lender. Qualified individuals can receive mortgage broker surety rates as low as $788 for a two-year policy in Indiana.

Public Adjuster Surety Bond

Public insurance adjusters are required by the Indiana Department of Insurance to post a $10,000 surety bond when applying for a license. Your premium for this bond is just $100. The bond contract states that you will faithfully perform your duties under Indiana Code 27-1-27 and will abide by rules of the Department of Insurance.

Indiana Surety Bond Costs
Bond Name Coverage Amount Cost
(Annual Premium)
Regulatory Authority
Collection Agency Bond $5,000 $100 Indiana Secretary of State
Contractor License Bond $5,000-$20,000 $100* Varies
Mortgage Broker Bond $60,000 $788 (two years) Indiana Securities Division
Public Adjuster Bond $10,000 $100 Indiana Department of Insurance

* Cost can vary depending on the bond amount required and your credit rating

Our knowledge of Indiana bond requirements enables us to provide accurate quotes quickly. For guidance through the license bonding process, whether you are applying for a new policy or renewing an existing surety bond, talk to one of our experts today.

Get Your Indiana Surety Bond


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