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Georgia Surplus Lines Broker Bond

How much does a surplus lines broker bond cost in Georgia?

The Georgia Commissioner of Insurance requires surplus lines brokers to post $50,000 surety bonds.

SuretyBonds.com offers surplus lines broker bonds for varying amounts based on a review of each applicant’s personal credit report. Applicants with strong financial credentials could qualify to pay as low as 1% of the bond amount, or just $500. Some surety underwriting companies might require current business financials and a personal financial statement to produce this bond, so having these documents handy will speed up the bonding process and could even help you qualify for a lower rate. Apply for your free surety bond quote now!

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Surplus Lines Broker Bond $50,000 Starts at $500 $2,000-4,000 $5,000+ Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

The experts at SuretyBonds.com make getting the bond you need fast and easy. Call 1 (800) 308-4358, or submit a bond request, to get started.

Why do I need this bond?

By posting a Georgia surplus lines broker surety bonds, principals (surplus lines brokers) pledge to comply with the requirements of the Official Code of Georgia Annotated and file a sworn statement of the following figures with the Commissioner of Insurance on or before April 15 of each year and quarterly thereafter:

  • the gross premiums charged for insurance placed
  • the gross premiums returned on such insurance canceled during the preceding quarter

The bond also requires the broker to pay the Commissioner a sum equal to 4% of such gross premiums less return premiums and faithfully account to all persons requesting insurance products through the broker.

The bond protects harmed parties from financial loss up to the full amount of the bond if the principals fails to comply with these terms.

Let our experts help you get the surety bond you need quickly and easily!

What’s the fine print?

Surplus lines broker bonds in Georgia remain in full force and effect until canceled.

Our experts are here to answer any questions you have about this specific surety bond type. Call 1 (800) 308-4358 to connect with our team.

How to become a surplus lines broker in Georgia

Applicants have the option to become a licensed resident surplus lines broker or a licensed nonresident surplus lines broker. Resident applicants must:

  • hold or apply for property and casualty agent license
  • pass the Surplus Lines Broker examination
  • complete and submit form GID-30
  • post a $50,000 surety bond
  • submit payment of $615

Nonresident applicants must:

  • complete and submit a Nonresident Uniform Application for Individual Producer
  • provide proof of his or her original certificate letter dated within 90 days from the resident state
  • submit payment of $615

Take the first step toward becoming a licensed insurance broker by purchasing the Georgia surety bond you need!

Ready to get started?

Get a FREE Surplus Lines Broker Bond Quote Today!

Office of Commissioner of Insurance Surplus Lines Broker’s Bond form

Office of Insurance and Safety Fire Commissioner Surplus Line Brokers Frequently Asked Questions

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