1 (844) 589-9732

Florida Premium Finance Company Bond

The Florida premium finance company bond is a $35,000 surety bond which may cost you as little as 2% annually. Call AmeriPro Surety Bonds at 844-589-9732.

Florida Premium Finance Company Bond | AmeriPro Surety Bonds | 844-589-9732

 

 

 

Florida Premium Finance Companies

 

 

 

A premium finance company is a company that lends money to a person or company to cover insurance premiums. The person or company, in turn, repays the finance company with interest for the money provided as a loan.

In Florida, premium finance companies are regulated by the Office of Insurance Regulation, Department of Financial Services.

Premium finance companies are also regulated by Chapter 627, Part XV, which deals with premium finance companies and agreements.

Section 627.828 mandates that you obtain surety bond requirement of $35,000.

 

 

 

Florida Premium Finance Company Bond: Purpose

 

 

 

The purpose of the $35,000 surety bond requirement is not to protect the premium finance company.

The bond’s requirement is for this purpose: It protect others, your customers, from acts of theft, fraud, willful misconduct, and criminal misrepresentation in the performance of your duties as a premium finance company.

The bond’s financial protection extends also to wrongful acts committed by employees, managers, and owners of the premium finance company.

Although there is an insurance policy required which does protect the premium finance company this, again, this surety bond exists solely for the protection of others.

Besides this, the surety bond is a normal prerequisite for licensing with the state.

 

 

 

Florida Premium Finance Company Bond: Cost and Duration

 

 

 

The premium represents the cost you will pay to obtain the required surety bond.

Applicants with good credit may pay as little as 2%, or $700 annually, for a Florida premium finance company bond.

Those with poorer credit scores will pay more; however, AmeriPro Surety Bonds will work to find you the best surety bond pricing available for you.

 

 

Forming a Florida Premium Finance Company:

 

 

 

Forming a premium finance company in Florida involves:

  • Complete a detailed Florida premium finance company application;
  • Pay a $250 application fee;
  • Have both fingerprinting and an investigation done as a requirement for licensing;
  • Provide to the Department the nature of your business structure (corporation, LLC, etc.);
  • Meet the financial requirements as required by the state;
  • Provide information on officers and owners of your corporation, if applicable;
  • Obtain the surety bond $35,000 surety bond.

A far more detailed list of requirements is found through reading the Department’s application.

 

 

 

AmeriPro Surety Bonds:

 

 

 

AmeriPro Surety Bonds is a surety bonds-only company which provides license and permit, fiduciary, court, and contractor bonds in Florida.

Our agency also provides surety bonds nationwide.

844-589-9732

Request a Callback

  • MM slash DD slash YYYY
  • Please note: We do not share or rent your address to anyone, except for underwriting purposes associated with your surety bond.
  • This helps us to find exactly the surety bond that you require. By the way, it's perfectly OK to not know the type of surety bond you need; that's why we're here!
  • This field is for validation purposes and should be left unchanged.

AmeriPro Surety Bonds

Our focus is exclusively surety bonds. We have two areas of concentration: YOU, our customer; and providing you with the surety bond that you need. Whether the bond is an "instant issue"; is for a contractor; a court bond; or one for a client with lower credit scores, AmeriPro Surety Bonds dedicates itself to providing our customers with a seamless, professional, and quick surety bond experience.

apply today

recent news

Lost Cashier’s Check Bond | Lost Instrument Bond

If you’ve lost a cashier’s check or money order, to replace it, the banking institution will require that a “Lost Instrument bond” be purchased in order to re-issue it. Learn how to quickly purchase this bond with AmeriPro Surety Bonds.

Mortgage Broker Bond

A mortgage broker bond is a license and permit bond which states require to become properly licensed and which is also required to protect the public from wrongful acts committed by a mortgage broker.

Notary Public Bond California

A notary bond, also known as a notary public bond, is a bond that is required by the state of California to engage in the business of witnessing signatures on documents. 

Wisconsin Garnishment Bond

Wisconsin Garnishment Bond | AmeriPro Surety Bonds | 844-589-9732   Garnishment Surety Bond; Purpose and Amount   A plaintiff’s garnishment order may, by order of the court, take place before a judgment is rendered in the underlying case. A condition of the...

Wisconsin Writ of Attachment Bond

Wisconsin Writ of Attachment Bond AmeriPro Surety Bonds | 844-589-9732   Surety Bond Writ of Attachment; Purpose and Amount   An attachment order allows you, or for legal counsel, your Plaintiff client, to seize and take possession of the disputed property...

North Carolina Garnishment Bond

North Carolina Garnishment Bond AmeriPro Surety Bonds | 844-589-9732   Surety Bond; Purpose and Amount   A North Carolina garnishment bond allows you, as plaintiff, prejudgement, to seize the accounts, assets or wages of a Defendant in a civil litigation...

contact us

Office: 1 (844) 589-9732

Hours of Operation:

Monday – Friday 6 am to 5 pm (PST)