California Public Adjuster Bond

Public adjusters represent clients in insurance claims. Their mission is to protect the interests of the people who have hired them. The job involves handling of sensitive personal information and finances. That’s why adjusters’ clients are protected with an extra layer of security, through the public adjuster bond.

Public adjusters in California need a California public adjuster license from the state’s Department of Insurance. The licensing authority requires any applicant to obtain a surety bond as a part of the process. It guarantees adjusters will adhere to the highest professional standards in their work, as set forth in the California Public Insurance Adjusters Act. The state bond form is available online.

The bond amount that California public adjusters are required to post is $20,000. The bond premium is only a few percent of this amount. Typically, it’s about 1%-3% for applicants with good finances, which means you may end up paying only $200-$600 to obtain your bond.

How is your bond price determined? Your surety needs to examine your personal and business finances to assess the risk of getting you bonded. They look at your personal credit score, business finances, assets and liquidity, and even your professional experience. Your bond cost will be lower if your overall financial situation is stable. In the table below, you can get an idea of your bond price for different credit score ranges.

Our surety bond cost page is an excellent resource for more information about how your bond price is set.

Even if your finances aren’t perfect, you can still get the bond you need. Lance Surety Bonds operates its Bad Credit Surety Bonds program to provide bonding for applicants with low credit scores, tax liens, bankruptcies, or civil judgements.

The bonding rates are between 5% and 10%, which is needed to compensate for the higher risk involved. We work with numerous A-rated, T-listed surety companies, which gives us access to a wide variety of bonding options. We can shop around for you to find the best bond match for your circumstances.

It’s easy to start your bonding process. You can apply online for a free California public adjuster bond quote today. If you’re ready to launch the process, take a few minutes to submit a complete application together with all the paperwork, and we’ll deliver your exact bond price.

For further information, you can refer to our How to Get Bonded page.

Have more questions? Just call us at (877) 514-5146. Lance Surety Bonds’ specialists will be happy to assist you with your application.

Your California public adjuster bond is not insurance for your business. Its purpose is to protect your customers. If you engage in unlawful activities that harm them, you can face a claim on your bond.

Proven claims are a serious financial and reputational threat to your adjuster company. At first, your surety reimburses the affected parties up to the penal sum of your bond. Afterwards, you’ll need to cover all costs yourself. Claims can also prevent you from getting bonded in the future, so they should be avoided as much as possible.