What is a $50,000 Virginia Public Adjuster Surety Bond?
A $50,000 Virginia Public Adjuster Bond is a new requirement of public adjusters licensed to do business in the state of Virginia. The $50,000 Virginia Public Adjuster Bond requirement was established during the 2012 General Assembly by House Bill 872 and Senate Bill 520. These Virginia house and senate bills provide that beginning on January 1, 2013, any resident or nonresident individual or business entity that acts as a public adjuster in Viriginia must obtain a license from the State Corporation Commission’s Bureau of Insurance. All Virginia Public Adjuster applicants are required by the state of Virginia to meet certain pre-licensing and renewal requirements. One of these Virginia Public Adjuster requirements is the certification via electronic attestation that the Virginia Public Adjuster has, and will keep in force for as long as the license remains in effect, a $50,000 Virginia Public Adjuster Surety Bond in favor of the Commonwealth of Virginia with corporate sureties licensed by the commission.
What is the current market for a $50,000 Virginia Public Adjuster Surety Bond?
The $50,000 Virginia Public Adjuster Surety Bond is widely written by many surety bond companies licensed by the Virginia State Corporation Commission’s Bureau of Insurance. DBL Surety has access to some sureties that will write the $50,000 Virginia Public Adjuster Surety Bond for multi-year terms which saves you money when compared to renewing the Virginia Public Adjuster Bond each year. The bond amount is set at $50,000 and can be approved the same day the surety bond application is received. Do you have bad, challenged, or less than stellar credit? DBL Surety also has access to several surety bond companies who will write your bond regardless of credit! Our challenged credit program is truly one of the best in the business and allows those applicants with struggling credit the ability to obtain the $50,000 Virginia Public Adjuster Bond at a reasonable price. Terms of approval and premium are largely determined by the financial condition of the business’ corporate and/or personal net worth, experience, and the needed bond amount.
How do I apply for a $50,000 Virginia Public Adjuster Surety Bond?
- Start by filling out our $50,000 Virginia Public Adjuster Surety Bond by clicking here; and
- Receive your quote in minutes!
Please note that additional underwriting information may be needed depending on bond request, information submitted, and to obtain the lowest possible rate.