California Underwritten Title Company Bond
AmeriPro Surety Bonds | 844-589-9732
Licensing of California Underwritten Title Companies
California underwritten title companies are businesses are licensed and regulated by the California Department of Insurance.
They are defined under Section 12389 of California Insurance Code as businesses which prepare title searches, title reports and exams, certificates and abstract of titles, among other items.
If as part of your business activities, you will be requesting “escrow authority”, you’ll need to furnish evidence of a $50,000 or $100,000 surety bond. The amount will be determined by the County of licensing; however, our agency will not be able to provide that amount to you. You’ll need to tell us the amount you need.
Qualifying and the Premium
Applicants and businesses requiring the $50,000 California underwritten title company bond are approved immediately. This is because there is no credit check nor underwriter review.
The application can be taken from you over the phone. The premium for the $50,000 surety bond requirement is $250 annually.
Applicants who require a $100,000 surety bond amount will complete and sign a short surety bond application. It will then be submitted for review by an underwriter. This review includes a credit inquiry. Good credit is required; and the premium is $500 annually.
Upon approval of your underwritten title company surety bond and payment of the premium, our agency issues your bond to you immediately.
It will be the original documents that you’ll file with the Department of Insurance. These will include:
Your surety bond; a jurat document which is notarized by our agency as Surety; and a Power of Attorney form.
After signing your original bond as Principal, you’ll file all documents to:
Department of Insurance
Corporate Affaird Bureaus I & II
45 Fremont Street, 24th Floor
San Francisco, CA 94105
Premium Prepayment Options
The premium associated with your California underwritten title company bond renews annually on the anniversary of its issuance.
You may prepay the $50,000 or $100,000 surety bond amounts up to 3 years, thereby offering you a savings over annual renewals.
The premium prepayment option and savings are as follows:
$50,000 Surety Bond Requirement
- If prepaid for 2 years, the premium is $450, a $50 savings;
- If prepaid for 3 years, the premium is $650, a $100 savings.
$100,000 Surety Bond Requirement
- If prepaid for 2 years, the premium is $900, a $100 savings;
- If prepaid for 3 years, the premium is $1300, a $200 savings.
Purpose Of Your Surety Bond Requirement
The bond is a financial guarantee for the benefit of your customers. It protects these customers from any injuries sustained as a consequence of failure to follow any related-laws and statutes as required.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, and probate surety bonds in all 50 states and the District of Columbia.
Please call our agency today at:
Or, you may fill out the form below and a Surety Agent will call you…