Independent adjuster bond cost
The New Mexico Office of Superintendent, Insurance Producer Licensing Bureau requires the state’s independent adjusters to post a $10,000 surety bond before they can be licensed.
Surety Bonds can instantly issue this bond for just $100! Everyone qualifies for the same low rate without a credit check.
Why this bond
This bond ensures that the principal (licensee) complies with New Mexico Insurance Code provisions that pertain to insurance adjusters. If a principal fails to follow the rules and regulations of this code and consumers are harmed, a claim can be made against the bond. The bond can provide reparation for damages if the licensee is found guilty of law violations or unfair practices while working as a licensed independent adjuster.
Independent adjuster bond details
The licensee’s social security number and place of residence must be listed on the bond form. These bonds are continuous until canceled. If the bond is to be canceled, the surety must submit a cancellation notice to the Agent Licensing Bureau at least 30 days prior to the cancellation date.
Become an independent adjuster
To be licensed as an independent adjuster in New Mexico, applicants must:
- Be at least 18 years old
- Reside in New Mexico
- Fully complete the license application
- Submit a $10,000 surety bond
- Pay the $30 license fee
Detailed licensing requirements can be found in the “Additional information” section on this page.
Apply for your surety bond
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- New Mexico Office of Superintendent of Insurance
- New Mexico Office of Superintendent of Insurance: Agent Licensing Bureau
- New Mexico Office of Superintendent of Insurance: Agent Licensing Bureau Forms & Applications
- Instructions for Independent Adjuster Application
- Independent Adjuster Affiliation Form
- Independent Adjuster Application
- New Mexico Independent Adjuster Bond Form