Virginia licensed public adjusters are regulated by the State Corporation Commission (SCC), which is part of the Commonwealth’s Bureau of Insurance.
As a condition of licensing, a public adjuster surety bond is required. AmeriPro Surety Bonds offers the public adjuster bond as both a new and renewal surety bond.
The Virginia public adjuster bond is a $50,000 surety bond required by the state’s Bureau of Insurance.
Applicants for the public adjuster bond will complete a surety bond application. The application may be accepted by an agent from our company.
There will also be a credit score check. Our agency utilizes a soft inquiry which will not adversely affect your credit score.
Typically, the Virginia public adjuster bond will have a premium about ½%-2% of the bond’s amount; however, amounts will vary based upon information provided in your application and credit. However, an applicant with good credit may pay as little as $250.00 annually for the public adjuster bond.
As of this writing, while the SCC requires a $50,000 public adjuster surety bond of licensees, an original copy of the bond is not required.
On an application for a new and renewal public adjuster license, the state accepts you providing the following information without the physical surety bond:
A Virginia public adjuster bond is active for one year from the date of issuance. A current and active surety bond (as per the format listed above) must be on file as a condition of licensing.
The Virginia public adjuster bond is a financial guarantee which ensures your compliance with all laws relating to the profession and any amendments or additions.
The bond protects the Bureau of Insurance and the people of Virginia from acts of fraud, theft, and other criminal acts committed by a public adjuster.
As principal of this surety bond, you are responsible to the surety for any claims paid against your bond, if such were ever the case.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, contractor, court, and fiduciary surety bonds throughout Virginia.
Our agency also provides surety bonds nationwide.
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