You place other people's protection. The bond backs your license.
A licensing bond for insurance producers
Some states require an insurance agent, broker, or producer bond as a condition of licensing. It guarantees that you will handle premiums and client money properly and conduct business in compliance with your state's insurance code. If you don't, consumers or the state can recover against the bond.
What an insurance agent bond guarantees
The bond protects the public and the state — guaranteeing you'll remit premiums you collect, handle client funds honestly, and follow insurance licensing law. It is not errors-and-omissions coverage for your advice; it's a compliance and consumer-protection guarantee, and you reimburse the surety for any valid claim.
How much an insurance agent bond costs
The bond amount is set by the licensing authority. The premium you pay is a small percentage of that amount — typically around 1%–3% for applicants with reasonable credit, more for weaker credit — so a modest bond often costs a few hundred dollars a year. We market it to multiple surety companies to get you the best rate.
Requirements vary by state and license type
Bonding requirements differ by state and by producer type (agent, broker, surplus lines broker, title agent). Some states require a bond for all producers, some only for certain lines or activities. We confirm your exact requirement before quoting.
Insurance Agent & Broker Bond requirements by state
The required amount and authority differ by state — and sometimes by city or county. We are licensed in all 50 states; request a quote and we will confirm the exact requirement that applies to you.
Frequently Asked Questions
What does an insurance agent bond cover?
It covers losses to the public or the state from a producer's failure to remit premiums, mishandling of client funds, fraud, or violation of the insurance code. You reimburse the surety for any claim it pays.
Is this the same as a surplus lines broker bond?
No — a surplus lines broker bond is a separate, specific bond for brokers placing coverage with non-admitted carriers, often tied to surplus lines tax obligations. Many producers need the general agent/broker bond; surplus lines brokers may need both.
How much does an insurance agent bond cost?
A premium equal to a small percentage — typically around 1%–3% — of the required amount, based on your credit.
How do I get a insurance agent & broker bond through Cory Washington & Co.?
Request a quote or contact our team. We confirm your exact requirement, market your bond across multiple surety companies that compete for it, and handle the filing. Cory Washington & Co. LLC is licensed in all 50 states.
All surety bond descriptions on this website are provided by Cory Washington & Co. LLC strictly for general informational purposes. They are not intended to be, and should not be relied upon as, legal, financial, or bonding advice. Surety bonds are not insurance. Bond requirements — including amounts, obligees, and bond forms — are set by government authorities and other obligees and change over time; the information presented is general in nature and does not guarantee the availability, terms, conditions, or amount of any bond. Actual bond terms are governed by the bond form issued by the surety and the requirements of the obligee, and any bond remains subject to underwriting approval. Nothing on this website creates or implies an agent-client relationship, binds a surety, or issues a bond. Cory Washington & Co. LLC expressly disclaims any liability for actions taken, or not taken, based on the content provided here. For advice regarding your particular situation, please confirm current requirements with the relevant authority and consult directly with a licensed professional at Cory Washington & Co. LLC.