South Carolina Insurance Broker Bond |
AmeriPro Surety Bonds | 844-589-9732
Insurance Brokers – South Carolina
Resident insurance brokers in South Carolina are required to furnish evidence of a $10,000 surety bond. Additionally, for licensing insurance brokers must also:
- Complete Form 3520 and pay a biennial fee of $200.
Obtaining the surety bond is perhaps the easiest step in the licensing process. With our agency, it only takes a few minutes.
Qualifying and the Premium
Qualifying for the South Carolina insurance broker bond is done by completing an application (which can be taken from you over the phone), and paying the $100 premium. There is no credit check or underwriting involved with this surety bond.
What that means for you is that once the application has been completed, and the $100 premium paid, this bond is issued to you immediately.
After issuance, a copy of the surety bond can be emailed to you. The original bond, which you will sign as Principal and file with the Department, will be mailed on the same or the following business day.
Additional Premium Payment Options
The SC insurance broker bond has a standard issuance date of one year. Thereafter, the bond is renewed. A current and active surety bond must always be on file to keep your license in good standing.
At your discretion, you may prepay this bond for up 2 or 3 years. Doing so, allows you a savings over year to year renewal of the surety bond premium.
The breakdown of premium prepayment options are as follows:
- This surety bond prepaid for 2 years is $180;
- If prepaid for 3 years, this bond amount is $260.
Purpose of Your Surety Bond Requirement
The purpose of your insurance broker bond is to serve as a financial guarantee which ensures protects against:
- Failure to comply with state laws involved in insurance brokering;
- Failure to remit funds received to an insurer or on behalf of an insured (i.e. a customer);
- Commission of acts of fraud, theft, or misrepresentation in the conduct of insurance brokering.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit bonds throughout South Carolina. Our agency also provides surety bonds nationwide.
Please call AmeriPro Surety Bonds today at:
Or, you may fill out the form below and an agent will contact you…