Colorado Public Adjuster Bond Overview
- Purpose: To ensure public adjusters comply with all Colorado statutes and requirements
- Who Needs It: All public insurance claims adjusters in Colorado
- Regulating Body: The Colorado Insurance Commissioner
- Bond Amount: $20,000
- Premium Price: $200 for a 1-year term
What Is a Colorado Public Adjuster Bond?
A Colorado public adjuster bond ensures that adjusters follow all applicable state laws and regulations. This protects individuals who are filing insurance claims from illegal and unethical business practices by claims adjusters.
What Are the Colorado Public Adjuster Bond Requirements?
All public insurance adjuster licensees in Colorado must file this $20,000 surety bond to work as a claims adjuster in the state.
How Much Does a Colorado Public Adjuster Bond Cost?
The Colorado public adjuster bond costs $200 for a one-year term. You can save 25% and time on renewals by choosing a multi-year term at checkout.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Colorado Public Adjuster Bond Work?
As with all surety bonds, a Colorado public insurance adjuster bond is a financial guarantee and legal contract between a principal, an obligee, and a surety provider.
| Bond Party | Description |
|---|---|
| 1. Principal | The public adjuster licensee filing the bond |
| 2. Obligee | The Colorado Insurance Commissioner requiring the bond |
| 3. Surety | The surety provider issuing the bond |
To avoid bond claims as the principal, you must comply with all Colorado statutes and requirements that regulate public adjusters.
If you fail to do so, the surety will pay up to $20,000 in valid claims to harmed individuals, which you would need to reimburse.
If you work as an insurance adjuster in states other than Colorado, we also offer insurance adjuster bonds nationwide.
How Do I Get a Public Adjuster Bond?
You can purchase your public insurance adjuster bond online 24/7. Simply choose your preferred bond term and provide your name as it will be licensed with the Colorado Insurance Commissioner.
Once you pay, we’ll email your official bond form in minutes. Be sure to file the signed bond with the state as instructed.
Can I Get Bonded With Bad Credit?
Yes, since these bonds are lower risk, all applicants automatically qualify for the same flat rate. You will not need to undergo a credit check to become a bonded public adjuster.
How Do I Renew My Public Insurance Adjuster Bond?
When your Colorado claims adjuster bond is close to expiring, you’ll receive notifications from SuretyBonds.com. To extend your bond for another license term, just pay your renewal invoice online or over the phone.
How Do I Update My Bond Form?
If information on your bond has changed, like a last name or address, please email the needed changes to your existing bond form to [email protected]. We’ll see if we can provide a free amendment document or if a new bond form is necessary.
How to Become a Licensed Public Adjuster in Colorado
The Colorado Department of Regulatory Agencies Division of Insurance enforces licensing requirements for the state's public adjusters, including the $20,000 Colorado surety bond requirement.
Complete these steps to apply for your Colorado insurance adjuster license.
- Fill out an online application on Sircon or the National Insurance Producer Registry (NIPR).
- Take and pass the required exam.
- Purchase and file a $20,000 Colorado public adjuster bond.
- Pay all required fees.
Learn more in our complete guide: How to Become a Public Adjuster in Colorado.You can also contact the Division by calling 1 (303) 894-7499 or by emailing [email protected].
