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Iowa Surety Bonds
Surety Bond Requirements in IA
The state of Iowa requires professionals, companies, and agencies to post surety bonds to protect those with whom they do business. We carry popular Iowa bonds including policies for plumbers, motor vehicle dealers, real estate closing agents, public insurance adjusters, credit services organizations, and instructional schools.
In addition to state bonds, there are over 90 city and county bonds required across Iowa, so be sure to check your local licensing laws. Some commonly required bonds in cities and towns include those for plumbing, electrical, HVAC, mechanical, and sidewalk contractors.
To make sure you are in compliance with Iowa bonding regulations, talk to NNA Surety Bonds. Our specialists have been providing reliable bond policies to companies and individuals across the United States since 1957.
We offer the following surety bonds in the state of Iowa:
Credit Services Business Licensee Bond
Iowa credit services organizations (CSOs) must be licensed by the Iowa Secretary of State, and are required to submit a $10,000 surety bond. Your signature to the bond agreement indicates your intention to comply with the provisions of Iowa Code chapter 538A. Anyone injured by fraud, misrepresentation, or financial failure of your organization may be awarded damages from the bond, which must then be repaid.
Your annual premium for this bond is just $100.
Get a credit services organization surety bond
Instructional School Surety Bond
The Iowa instructional school bond, also known as a private school bond or occupational school bond, is variable in size and must be submitted to the Iowa College Student Aid Commission. You must post it as part of the licensing process for all private post-secondary and instructional schools that offer academic, professional and technical training.
The bond provides a financial remedy to anyone harmed by the school’s violation of a law or regulation in handling student finances, including tuition or financial aid, and could even be used for tuition reimbursement if the school closes.
Learn more about the Iowa instructional school bond
Motor Vehicle Dealer Bond
New and used motor vehicle dealers and travel trailer dealers must post a $75,000 bond in order to be licensed in Iowa. The bond is designed to protect consumers if they are harmed financially by unethical, misleading or illegal practices by your dealership. If damages are awarded, you must repay that amount to the surety.
Your cost to obtain one of these surety bonds is $375.
Plumbing & Mechanical Contractor Bond
To work as a licensed Iowa plumbing contractor, you are required to submit a $5,000 surety bond to the Iowa Plumbing and Mechanical Systems Board. Your cost for this bond is just $100. The bond protects the state and your customers by requiring a high degree of professionalism in your work and compliance with the terms of the bond contract.
Request a surety bond for your IA plumbing business
Public Adjuster Surety Bond
The Iowa Insurance Division requires you to post a $20,000 surety bond in order to work as a licensed public adjuster. To register for a license, you must apply through the National Insurance Producer Registry (NIPR).
The bond agreement requires compliance with Iowa Code 191-55.10(1), allowing recovery of damages on behalf of clients resulting from erroneous acts, failure to act, fraud, or unfair practices.
The term for this bond policy lasts two years, and carries a premium of $350.
Receive your public adjuster surety bond
Real Estate Closing Agent Bond
In Iowa, a $25,000 surety bond must be submitted along with your real estate closing agent license application through the Nationwide Multistate Licensing System (NMLS).
The bond agreement states that you (the principal) will conduct business ethically and in accordance with state law. Should you commit a wrongful act, the harmed party may file a claim against the bond. If the claim is upheld, the amount awarded must be repaid in full, up to the penal sum of the bond.
Your cost for this bond can be as low $250 with a good credit score.
| Bond Name | Coverage Amount | Cost (Annual Premium) |
Regulatory Authority |
|---|---|---|---|
| Credit Services Organization Bond | $10,000 | $100 | Iowa Secretary of State |
| Instructional School Bond | Varies | Varies* | Iowa College Student Aid Commission |
| Motor Vehicle Dealer Bond | $75,000 | $375 | Iowa Department of Transportation |
| Plumbing & Mechanical Contractor Bond | $5,000 | $100 | Iowa Plumbing and Mechanical Systems Board |
| Public Adjuster Bond | $20,000 | $350 (two years) | Iowa Insurance Division |
| Real Estate Closing Agent Bond | $25,000 | $250* | Iowa Superintendent of Banking |
* Cost can vary depending on the bond amount required and your credit rating
Our knowledge of Iowa bond requirements enables us to provide accurate quotes quickly. For guidance through the process of selecting surety bonds for your business, talk to one of our experts today.
State Resources
- Iowa Secretary of State – Credit Services Organization Registration Form
- Iowa Instructional School Statement of Financial Responsibility and Bond Form
- Iowa Department of Transportation – Motor Vehicle Dealer's License
- Iowa Plumbing and Mechanical Systems Board – Licensure Requirements
- Iowa Insurance Division – Obtaining a New License or Authority for Public Adjusters
- Iowa Real Estate Closing Agent License New Application Checklist (NMLS)