Who needs to obtain a Florida Public Adjuster Bond?
Florida Public insurance adjusters need to post a Florida Public Adjuster Bond, so that they can get their public adjuster license. Public Adjusters need to represent the interests of their clients. Public adjusters act in line with the law. Getting bonded is a guarantee of high professional standards.
A Florida Public Adjuster is hired by a policyholder for negotiating an insurance claim. Besides an attorney, and the original insurance broker, a public adjuster is the only other party that can legally represent a claimant in such cases.
Seaman’s Insurance Group, Florida’s Premier Boutique Independent Insurance Agency is St Augustine and North East Florida’s local Surety Bond and Fidelity Bond guru. If you are in need of a Bond, we are here to help.
Why do you need a Florida public adjuster bond?
Florida Public Adjusters are required to obtain a surety bond to protect your clients. If you do not follow state regulations, a claim can be filed against your bond. One example of a potential claim could be, if you charge fees on a client’s settlement that were not originally agreed upon, a claim could be made.
What Is a Florida Public Adjuster Bond?
If you are running a Florida public insurance adjuster business, many states will require you to get licensed and obtain a public adjuster bond. There is no nationwide bond requirement, the bond amount is set individually for each state.
The purpose of the Florida public adjuster bond is to protect the state you operate in, and its citizens, from unlawful actions your company might engage in. Having obtained a Florida public adjuster bond is a sign to your customers that you are safer to do business with.
A public adjuster bond works as a three-party contractual agreement. Your public adjuster company is the principal that needs to post the bond. The obligee is the state that requires you to get bonded, and the surety is the bond provider.
Do I Need a Florida Public Adjuster Surety Bond?
This surety bond is required by the State of Florida to be a public adjuster.
Some of the licenses required to obtain a Florida public adjuster’s surety bond include:
3-20, 3-44, 73-20, 73-44, 5-20, 5-44,75-20, 75-44, 6-20, 6-44, 7-20, or 7-44
How Much Does a Florida Public Adjuster Bond Cost?
These surety bonds are underwritten and based on personal credit.
Bond Penalty Amount: $50,000
What Happens After Purchasing a Florida Public Adjuster Bond?
After purchasing your surety bond, you can receive the bond as quickly as 48 hours. Once received you will need to sign it and mail it to Florida Department of Financial Services