Rhode Surplus Lines Broker Bond |
AmeriPro Surety Bonds | 844-589-9732
Rhode Island Surplus Lines Broker License
First time Rhode Island candidates and existing surplus lines licensees must obtain and maintain a $25,000 surplus lines broker surety bond as a condition of licensing. The same also applies to California residents who wish to obtain a non-resident surplus lines broker license in Rhode Island.
Qualifying and the Premium
Rhode Island residents and non-resident California applicants are both automatically approved for the $25,000 Rhode Island surplus lines broker bond. The premium is just $250 annually, and there is no credit check.
Obtaining your bond is simple and takes just a few minutes.
When you call our agency, we’ll ask you some very basic questions: The name, exactly as it should appear on your bond, along with your address, email, and phone number.
After payment of the premium, this bond is issued to you immediately.
Your bond form, along with a Power of Attorney form (POA) are sent to you for filing. Upon receipt, you’ll sign your bond as Prinicipal, and file it along with the POA to:
General Treasurer – State of RI & Providence Plantations
1511 Pontiac Avenue
Cranston, Rhode Island 02920
Premium Prepayment Options
Your $250 premium renews annually. An active, current surety bond is required as a condition of continued licensing. Our agency also offers you the option to prepay your bond’s premium up to 3 years.
Prepayment of the premium saves you money versus paying each year; it also lengthens the time between renewals.
The premium prepayment option and savings are as follows:
- If prepaid for 2 years, the premium is $450, a $50 savings;
- If prepaid for 3 years, the premium is $650, a $100 savings.
Purpose Of Your Surplus Lines Surety Requirement
Your bond requirement is statutorily required in § 27-3-39, under Surplus Lines Insurance; however, the bond is a financial guarantee of your compliance with § 27-3-38, and any related legislation, as amended.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide surplus lines broker surety bonds nationwide.
Our agency is also a provider of license and permit, court, probate, and other surety bonds in all 50 states.
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Or, you may fill out the form below and our Surety Agent will contact you…