Maryland Surplus Lines Agent Bond
AmeriPro Surety Bonds | 844-589-9732
Surplus Lines Agent – Maryland
The Maryland Insurance Administration regulates the licensing of surplus lines agents.
Surplus lines agents are required to furnish evidence of a surety bond which our agency offers for one low price.
Maryland Surplus Lines Agent Bond: Amount of the Bond and the Premium
The Maryland surplus lines agent bond is a $10,000 surety bond required by statute.
As an applicant for this surety bond, new or renewal, qualifying is easy.
- You will complete the application (which can be done in a matter of a few minutes with an agent);
- Pay the premium, which is just $100;
- The bond is issued to you immediately.
Once issued, a copy of the bond can be sent to you by email at no extra charge. The original surety bond with the wet signature will be mailed the same or the following business day.
There is no credit score inquiry for this surety bond.
The decision is entirely yours; however, the option exists to prepay the Maryland surplus lines agent bond for 2 or 3 years. If chosen, this offers a savings over year to year premium renewal.
The breakdown is as follows:
- Prepaid for 2 years, the premium is $175;
- Prepaid for 3 years, the premium is $250.
The Purpose of this Bond:
The purpose of the surplus lines agent bond is a financial guarantee for the state’s Insurance Administration that you will be in compliance with Section 324.
More specifically, the bond is a financial pledge that you will promptly remit any taxes related to income received as a surplus lines agent as required to do so by law.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, and fiduciary surety bonds throughout Maryland.
Our agency also provides surety bonds nationwide.
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