Title insurance agents are in the profession of selling insurance to homeowners which protects the homeowner from defects which may only later discovered in the title or deed to a purchased home.
The title insurance purchased is a one time fee only.
In Florida, title insurance agents are regulated by the Florida Division of Insurance Agents and Agency Services.
Florida title insurance agents are also required to purchase and maintain a $35,000 surety bond which names the appointed title insurance company as the obligee. Usually, it is the licensing Department which is the obligee for this type of surety bond; but, not in this case.
As a title insurance agent or agency, you may likely have more than one insurance company with whom you have an appointment to sell their title insurance.
The Florida title insurance agent bond is to protect those insurance companies from any failure on the part of you as an agent, or your agency, to act in accordance with laws regulating the title insurance profession.
The surety bond protects those insurance companies, but not you as an agent nor your agency, from any acts of fraud, theft, or criminal conduct committed by a title insurance agent or company.
The bond’s financial guarantee extends also to misconduct or unlawful activity committed by employees, agents, owners, or managers of a title insurance agency, as it relates to their duties which bear upon the appointing insurance company.
The bond’s face amount is $35,000; however, you will pay only a small percentage of that amount.
The bond’s price is also known as its premium. The premium for a Florida title insurance agency bond may be as little as 1%-5%.
The amount you will pay, however, will be determined by:
You also have the option of prepaying this surety for two years, but the decision to purchase the bond for one or two years is entirely up to you.
The easy and quickest way to obtain your title insurance bond is to call us. We are friendly and we're very easy to speak to.
We will take your application right over the phone.
The bond’s issuance will take usually one or perhaps two business days at most, and we can accept payment for this bond’s premium from you as well.
Once issued, AmeriPro Surety Bonds can mail you a copy of the purchased surety bond.
It is the original one received in the mail that you will need to sign – and file --- with the Department.
AmeriPro Surety Bonds offers license and permit, contractor, court, and fiduciary bonds throughout Florida.
We also provide surety bonds nationwide.
Please call us at: 844-589-9732