Insurance Broker Bond
An insurance broker bond is a type of license and permit bond. The bond guarantees that the insurance broker accounts for insurance premiums to their companies, and the public. This bond protects individuals who may be harmed by the actions of a licensed insurance broker, and is required by the state department of insurance.
The insurance broker bond is considered relatively low risk by bonding companies when compare against other commercial surety bonds; because of this rates are good, and vary very little between surety companies.
The insurance broker bond is considered standard risk for a surety to guarantee; but not all will be accepted in the standard market. If, due to your credit report, you do not qualify for the standard market, our agency offers a high risk, bad credit surety bond program. This program is only available for commercial surety bonds. Please apply for our high risk insurance broker bond.
