How much does a surplus line broker bond cost in California?
The California Producer Licensing Bureau requires surplus lines brokers to post $50,000 surety bonds. Special lines surplus lines brokers must post $10,000 bonds.
SuretyBonds.com issues $50,000 surplus line broker bonds for just $500, and bonds for special lines brokers can be issued for just $100. There’s no credit check required, so everyone qualifies instantly. Get bonded now!
5 minutes is all it takes to get bonded when you work with the experts at SuretyBonds.com! Call 1 (800) 308-4358 or click here to purchase your bond now.
Why do I need this bond?
California surplus line broker bonds ensure that principals (brokers) faithfully comply with the requirements of Chapter 6, Part 2, Division 1 of the Insurance Code of California and all other application provisions.
Special lines surplus lines broker bonds in California ensure that principals (brokers) hold a special lines’ surplus line broker’s license issued by the Insurance Commissioner of the State of California and account for and handle all monies paid to him/her for insurance services appropriately.
If the principal fails to comply with these terms, both bonds protect harmed parties from financial loss up to the full amount of the bond.
Ready to purchase your California surplus line broker bond? Connect with our team of surety bond experts now!
What’s the fine print?
Bonds for surplus line brokers and special lines brokers in California remain in full force and effect until the surety cancels the bond or the surety is released from further liability by the commissioner. The surety can cancel the bond by giving written notice of cancellation to the commissioner 30 days prior to the effective termination date.
How to become a surplus line broker in California
Surplus line brokers in California must obtain a license before they can begin work. The process to apply for a surplus line broker license is as follows:
- complete pre-licensing education requirements (24 hours)
- pass Property and Casualty Broker-Agent exams prior to submitting license application
- submit an online license application through FLASH (Fast Licensing Application Service is Here)
- pay $154 application fee
- provide live scan fingerprint impressions
- and more
To renew your license, you must fulfill the continuing education requirements (24 hours) for each 2-year license period.
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