
Chatsworth, CA 91311-4926
A public adjuster is an insurance claims professional who acts on behalf of the policyholder to research and negotiate claims with the insurance company. To operate as an insurance adjuster, a public adjuster bond (also known as an insurance adjuster bond) is required by licensing authorities in certain states.
If your business negotiates insurance claims for your customers, many states will require you to maintain a public adjuster bond as part of their licensing requirements.
Licensing authorities require that certain professions maintain a minimum amount of financial standing in the event of insolvency. Insurance companies offer surety bonds to licensed professionals as a simple way to meet the state financial liability requirements for licensure.
Your surety bond premium can range from 1% to 3% of the full bond amount if your financial health is good. In California, you can get a $20,000 insurance adjuster bond for a premium of $100 annually, depending on your qualifying credit history.
State | Bond Amount | Cost* (Annual Premium) |
---|---|---|
California | $20,000 | $100 |
Delaware | $20,000 | $140 |
Florida | $50,000 | $500 |
Georgia | $5,000 | $100 |