Public adjuster bond cost
Public adjusters in Colorado must post a $20,000 surety bond. Because no credit check is required, everyone qualifies. We can issue these bonds for 1, 2, or 3-year bond terms, which will directly impact the amount you’ll pay for your bond and save you money! If you get bonded for 2 years, you’ll pay just $175 per year. A 3-year bond will cost you just $167 per year.
Why this bond
By purchasing a public adjuster bond in Colorado , the applicant guarantees consumers that his or her duties as an adjuster will be performed faithfully and honestly. Because the applicant works directly with the policyholder and not with insurance companies, there will be no conflict of interest when negotiating on behalf of the policyholder.
If the applicant conducts business unethically, such as charging fees on a client’s settlement that were not originally agreed upon in the contract, this bond will protect the client from resulting financial losses.
If the principal violates the terms of his or her bond agreement and a consumer is harmed as a result, the surety will pay for all damages up to the full bond amount.
Public adjuster bond details
This bond will remain in effect during the term of the public adjuster’s license. If the bond is to be canceled, the surety must give the state written notice at least 30 days prior to the proposed termination date.
Become a public adjuster
In addition to posting a surety bond, applicants in Colorado must be licensed to legally pursue the acts of a public adjuster. A person licensed as a public adjuster cannot misrepresent to a client that he or she is representing an insurer unless appointed by an insurer in writing.
Business entities acting as public adjusters are also required to obtain a public adjuster license. Before being approved by the commissioner, all parts of the application must be submitted and all fees must be paid.
Apply for your surety bond
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