Insurance Agent Bond
What is an Insurance Agent Bond?
An Insurance Agent Bond, also known as a Broker Bond, guarantees that the insurance agent or broker will comply with the state laws and account for their company’s insurance premiums.
How does an Insurance Agent Bond Work?
An agent or broker bond is put in place to secure customers from having fraudulent or unethical acts done to them by their agent or broker. If such an event should occur, the customer has a right to file a claim against the bond.
How much does an Insurance Agent Bond Cost?
The cost of an Insurance Agent Bond is typically based on the credit history of the owners of the company. All owners with 10% or more ownership will be taken into consideration. Other factors to take into consideration would be the amount of the bond and the term the bond is required to be in place. Should an account be considered borderline, we may need to review personal or business financials to secure a quote. At Universal Service Agency we specialize in placing clients in any circumstance that may present itself from “superior credit” to “less than perfect credit” and everything in between.
How do I get an Insurance Agent Bond?
You can get an Insurance Agent Bond by contacting surety bond agents/brokers. Since you’re already here, you can give us a call at 215-646-2400 or Apply Now here.
How to Choose a Bonding Company?
Universal Service Agency offers Surety Service Made Simple. We are the fastest surety only agency in the country, with over 100 years of combined surety experience servicing all 50 states. We exhaust all of our resources to get you the fastest turnaround times and lowest rates. We can help anyone, even clients that may not fit into the standard market. You can get a free quote here or call our bond experts at 215-646-2400.
How long does it take to get an Insurance Agent Bond?
Universal can issue bonds the same day an application is received. The amount of time between application and issuance is affected by a number of factors though, including but not limited to, the size of the obligation, the type of bond, and promptness of the premium payment.
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Universal Service Agency is the fastest “surety only” agency in the country, with over 100 years of combined surety experience servicing all 50 states.