A California Insurance Broker Bond in the amount of $10,000 is mandatorily required to be filed with the State of California, Department of Insurance, as set forth in the California Insurance Code Sections 1662-1665, for all licensed insurance agents.
The California Insurance Broker Bond benefit any person or persons damaged by acts made by the insurance broker characterized by fraud, dishonesty, misstatement, misrepresentation, deceit and or any unlawful acts or omissions by the insurance broker.
Insurance Broker bond amounts and cost will vary from state to state. These bonds typically cost 1% of the bond amount or a minimum of $100.00. The term for the bond will also vary in each state. We offer the lowest rates for Insurance Broker Bonds!
No Credit Check, Instant Issue! Insurance Broker Bonds are considered low risk, which means they can be issued instantly with no application or credit approval needed. We can provide you with your bond the same day it is requested. Our applicants purchase their bond quickly, easily and at the lowest price.
A state mandated requirement set forth for all licensed insurance agents to protect the public and the state against any unlawful or illegal act performed by an Insurance Broker. Common unethical acts are as follows:
The Insurance Broker Bond will benefit any person or persons damaged by illegal acts made by the insurance broker up to the full penal sum of the bond. The insurance broker will have to reimburse the company for any money paid out by a claim.