Florida Public Adjuster Bond

Public adjusters in Florida who want to serve as representatives for clients in insurance claims need to be licensed with the Division of Insurance Agent and Agent Services. As a part of their licensing process, they need to obtain a bond.

The bond provides an extra layer of guarantee for your clients and for the licensing authority. It ensures you will adhere to the professional standards in serving your customers.

The bond amount that Florida public adjusters need to post is $50,000. Your bond price, however, is different. The bond premium is only a fraction of the total amount. If your overall finances are in good shape, you need to cover only 1%-3% of the bond amount. This means that you might have to pay only $500-$1,500 to get bonded.

How exactly is your bond premium calculated? When you apply with a surety, they examine your personal and business finances. The surety considers your personal credit score, business finances, and assets and liquidity. The goal is to assess the risk involved in bonding you. If you are seen as a low-risk applicant, you’re likely to get a lower bond premium.

You can consult our surety bond cost page to find out more details about how your bond price is set.

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

The risk in bad credit bonding is higher. That’s why the bonding rates are between 5% and 10%. With us, however, you are still guaranteed a great rate. We work with a number of A-rated, T-listed surety companies. This allows us to shop around for the best bonding option for you.

You can start your bonding process today. Just apply online for a free Florida public adjuster bond quote. Want your exact price? We’ll deliver it in no time after you submit your full application and documents.

If you need more information about the process, you can check our How to Get Bonded page for further details.

For any questions, just call us at (877) 514-5146. Lance Surety Bonds’ experts will provide you with the help you need.

The purpose of your surety bond is to protect your customers. This means it does not function like insurance for your business. In case you engage in unlawful activities and this leads to negative results for another party, they can file a claim against your bond.

If the case against you is proven, you are liable to compensate the claimants. Because of the bonding, your surety will cover the costs at first. However, you need to reimburse it fully afterwards.

Aside from the financial harm, claims can damage your reputation too. After a proven claim, it can also be difficult to get bonded again.