Virginia Public Adjuster Surety Bond
The Commonwealth of Virginia State Corporation Commission Bureau of Insurance oversees the licensing of public adjusters. A Public Adjuster is one who advocates for a policyholder in appraising and negotiating an insurance claim. Public Insurance Adjusters in Virginia are required to secure a surety bond as a condition of licensure. The bond guarantees that the adjuster will conduct business honestly while complying with the state insurance statues.
Surety Bond and License Requirements:
- Public adjuster applicants must first meet the education requirements and pass the exam.
- After passing the exam, complete the electronic application through the Virginia State Corporation Commission, Bureau of Insurance and pay the applicable license fee.
- Those applying must be able to pass a criminal background check prior to the license being issued.
- Obtain a $50,000 surety bond. Applicants must "Attest" that their surety bond will remain in effect during the entirety of their licensure. The original bond will remain in the possession of the public adjuster.
- Public adjuster licenses must be renewed every two years and a surety bond must be held during each license period.
How Much Will a Virginia Public Adjuster Bond Cost?
The premium that you pay for a Virginia Public Adjuster Surety Bond is dependent on credit.
Did You Know?
Virginia requires public adjusters to have a written contract for each insured they provide services to.
Related Links: "Public Adjuster Facts"
More Surety Bond Questions?
Check out our FAQ page. Should you need or choose to buy a surety bond, SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.
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