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A Guide to Appraisal Management Company Bonding
SuretyBonds.com is legally licensed to issue AMC bonds nationwide. Whether you work in Arizona, Illinois, North Carolina or Georgia, we can help you get the bond you need.
The appraisal management company (AMC) bonds guarantee AMC’s will operate in accordance with all federal and state laws relating to the appraisal industry. These bonds may be used to reimburse those who suffer loss or damage if a company fails to abide by the terms of the bond.
If loss or damage does occur, consumers may file a claim against the bond, and the surety backing the bond will pay up to the full amount of the bond. However the principal (you) must reimburse the surety company in full. Continue reading for an in depth guide to surety bonds for appraisal management companies.
Why Do I Need an Appraisal Management Company Surety Bond?
Appraisal management company bonds are required by individual states as part of the licensing process, and failure obtain one may result in the denial of a new license or the revocation of an existing license. Inform the state office in charge of licensing immediately if the AMC bond is canceled or expires to avoid being penalized.
State Specific Costs
Appraisal management company bond requirements and amounts are specific to each state. Rates may vary depending on the state in which you are looking to become licensed. Select your state below for more information about AMC Bonds in your area or call 1 (800) 308-4358 to speak with a surety expert.
Pay a Low Rate for Your Appraisal Management Bond
The exact premium for your Appraisal Management Company bond will be based on a few factors:
- The amount of coverage required, which will depend on your state’s requirements
- Number of business locations are also determining factors
- A factor that is highly considered is credit score. Applicants with strong financial credentials will pay a smaller premium - typically 1-5% of the bond amount. This means you could get $20,000 of coverage for just $200.
What are you waiting for? Get your free, no obligation price quote today!
Get an AMC Bond With Bad Credit
Our exclusive Bad Credit Bonding Program, allows SuretyBonds.com to get an approval rate of 99% for applicants, regardless of credit history. Our surety specialists work closely with insurance underwriters who specialize in writing bonds for applicants with poor credit. We also offer a special premium financing option for applicants who qualify, allowing them to split their premiums into smaller, more manageable payments. Don’t let less than stellar credit keep you from getting the surety bond you need. Contact a surety specialist to get started now!