How much does a surplus lines agent bond cost in Florida?
The Florida Department of Financial Services requires surplus lines agents to post $50,000 surety bonds prior to conducting business.
Florida surplus lines agent bonds can be issued instantly and cost $500. However, applicants who purchase a bond for multiple years, will receive a 25% discount on subsequent years. Because there is no underwriting, all applicants apply for the same 1% rate.
|Bond Type||Bond Amount||Cost|
|$50,000 Surplus Lines Agent Bond||$50,000||$500|
Begin the bonding process by calling 1 (800) 308-4358 or submitting a bond request. Our experts can typically provide free, no-obligation bond quotes within 1 business day of submitting your application.
Why do I need this bond?
Florida surplus lines agent bonds are put in place to ensure that principals (surplus lines agents) conduct business in accordance with the provisions of the Surplus Lines laws, Part IV of Chapter 626, Section 626.913 through 626.937 of the Florida Statutes and abide by all rules and regulations of the Department of Financial Services set by the Chief Financial Officer.
If the principal violates the terms of the surety bond contract, the bond protects the department from financial loss up to the full amount of the bond.
What’s the fine print?
Surplus lines agent bonds in Florida can be canceled by the surety if the surety gives the principal and the department written notice of cancellation at least 30 days prior to the effective cancellation date.
Applicants must provide their social security number for this specific surety bond type.
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