Illinois Public Adjuster Surety Bond
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General Information
All individuals seeking to operate as public insurance adjusters in Illinois are required by the Illinois Department of Insurance to post a $50,000 surety bond. This bond serves as a financial guarantee that the adjuster will comply with state laws and ethical standards when representing policyholders in insurance claims.
Why Do I Need an Illinois Public Adjuster Bond?
Illinois public adjusters must obtain a $50,000 surety bond as part of the licensing requirements set by the Illinois Department of Insurance. The bond protects the public by ensuring that adjusters conduct their duties ethically and in compliance with the Illinois Insurance Code. If a licensed adjuster engages in fraudulent or dishonest behavior, a claim can be made against the bond to recover damages.
Fast & Simple Bond Solutions – No Application or Credit Check Required
- Issued Quickly: Receive your bond via email within minutes during normal business hours.
- No Credit Checks or Underwriting: Avoid delays with our streamlined process.
- Affordable Premiums: Pricing starts at just $350 for a 1-year term.
- Dedicated Customer Support: Our knowledgeable team is here to help every step of the way.
IL Public Adjuster Bond Pricing
| Bond Amount | Bond Term | Premium Cost |
|---|---|---|
| $50,000 Bond | 1 Year | $350 |
| $50,000 Bond | 2 Years | $613 (Save $87) |
| $50,000 Bond | 3 Years | $875 (Save $175) |
How To Get Licensed As a Public Adjuster in Illinois
To obtain a public adjuster license in Illinois, applicants must:
- Be at least 18 years old.
- Pass the Illinois public adjuster exam.
- Submit an application and pay the required fees.
- Provide a $50,000 surety bond.
- Complete fingerprinting and a background check.
For more details on licensing requirements, visit the Illinois Department of Insurance Licensing Page.
Bond Details at a Glance
- Bond Amount: $50,000
- Cost: Starting at $350
- Term Options: 1, 2, or 3 years
- Obligee: Illinois Department of Insurance
- Obligee Address: 320 W. Washington Street, Springfield, IL 62767
Ready to Secure Your Illinois Public Adjuster Bond?
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What does a Public Adjuster Surety bond protect?
In essence, the Public Adjuster Surety Bond serves as a financial guarantee that the public adjuster will act honestly and professionally, safeguarding the interests of their clients during the insurance claims process. It's a requirement in most states for obtaining and maintaining a public adjuster license, demonstrating a commitment to ethical behavior and client protection.