Home or service warranty association bond cost
The Florida Office of Insurance Regulations’ Specialty Product Administration requires home or service warranty association professionals to post surety bonds in varying amounts prior to conducting business. Applicants should verify their required bond amount prior to bonding.
Why this bond
By posting a Florida home or service warranty association surety bond, principals pledge to faithfully perform obligations to its members or subscribers and pay every and all liabilities to its member or subscribers according to contract.
If the principal fails to conduct lawful and ethical business, the bond protects harmed parties from financial loss up to the full penal sum of the bond. The principal must reimburse the surety for all damages paid out.
Home or service warranty association bond details
Home and service warranty association surety bonds in Florida remain in full force and effect until canceled or released. The surety can cancel the bond by giving written notice of cancellation to the Commissioner of the Office of Insurance Regulation at least 60 days prior to the effective termination date.
Apply for your surety bond
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