Insurance Broker Bonds

Professionals who serve as an intermediary between a consumer and an insurance company must get a surety bond to become licensed insurance brokers in most states. The purpose of an insurance broker bond is to protect consumers from financial harm resulting from fraud, unethical practices, or failure to comply with state laws.

We offer the following Insurance Broker Bonds:

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Cost of an Insurance Broker Bond

The cost of an insurance broker bond is a small percentage of the bond amount required by the obligee, or entity requiring the bond for licensure. Surety bond policies are good for one year. Make sure to renew your insurance broker bond annually to maintain an active license.

Difference Between Insurance Brokers and Insurance Agents

In general, insurance brokers work independently for clients to find them the best coverage whereas insurance agents represent insurance companies to sell their policies.

Difference	Insurance Broker	Insurance Agent
Who they work for	Clients	Insurance companies
How they get paid	Commission from an insurer or direct fee from the client	Commission or salary from the insurer
Policies they offer	Can offer policies from multiple insurers	Can offer only products from represented insurer(s)

How to Get an Insurance Broker Bond

NNA Surety offers competitive rates and fast approvals for insurance brokers. Call 855-785-3598 or complete our contact form to get your free quote today.