North Carolina Insurance Broker Bond |
AmeriPro Surety Bonds | 844-589-9732
Insurance Brokers – North Carolina
The Agents Services Division of the North Carolina Department of Insurance requires licensed insurance brokers to furnish the Department with evidence of a $15,000 surety bond.
AmeriPro Surety Bonds offers you the North Carolina insurance broker surety bond as both a new and renewal surety bond.
North Carolina Insurance Broker Bond: Its Premium
The premium for the $15,000 North Carolina insurance adjuster bond will be determined by an application and a credit check.
Applicants for this bond may pay as little as 1%, or $150 annually; however, the amount that you will be required to pay will depend on your credit score.
We also have an option for a no credit check and no underwriting surety bond; however, the price for this bond will be 2% or $300 annually.
Applicants therefore can expect to pay anywhere between the $150, but no more than $300 for this surety bond.
AmeriPro Surety Bonds will work to find you the best surety bond pricing.
This Surety Bond’s Term
Once issued, the North Carolina insurance broker bond is active for one year from the date of issuance.
A surety bond must always be on file as a prerequisite for continued insurance broker activity in the state.
North Carolina Insurance Broker Bond: The Purposes
According to Article 33 of the state’s Insurance Code, the NC insurance broker surety bond is a financial guarantee which serves 3 purposes:
- It serves as a guarantee that an insurance broker will provide accounting to anyone who has provided the broker with money for insurance premiums or money;
- It serves as a guarantee that an insurance broker will provide an account to any insurer, agent, or agency who provides the insurance coverage;
- It serves as a financial guarantee that an insurance broker will provide an account to any premium finance company or any other related group that finances premium collected by an insurance broker for a client.
While the bond is for the benefit of any of these entities who are harmed by the failure of an insurance broker, as with any surety bond, the owner of the bond must always reimburse the surety for any claims paid against the bond.
AmeriPro Surety Bonds is a surety bonds-only agency which provides license and permit, contractor, court, and fiduciary surety bonds throughout North Carolina.
Our agency also provides surety bonds nationwide.
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