How much does a $10,000 public adjuster bond cost in Indiana?
Indiana public adjuster surety bonds cost just $100. Simply click Buy Now to visit our secure bond checkout and purchase your bond online today. In just a few minutes you can be on your way to being bonded as a public adjuster in Indiana.
|Bond Type||Bond Amount||Cost|
|$10,000 Public Adjuster Bond||$10,000||$100|
Why do I need this bond?
The Indiana Department of Insurance requires public adjusters to post a $10,000 surety bond in order to become licensed and work within the state of Indiana.
By purchasing a public adjuster bond in Indiana, the principal (public adjuster) is held accountable to any insured party whose claim he/she is handling, as provided in Title 27 Chapter 27 of the Indiana Code of Insurance.
If the principal violates the terms of the bond, the surety will compensate harmed parties for damages suffered up to the full amount of the bond. If damages occur, the principal must reimburse the surety for any money paid out in the claim.
What’s the fine print?
Public adjuster bonds in Indiana remain in effect until canceled or claimed against. However, the surety has the right to cancel the bond at any time by giving written notice. Notice must be sent at least 30 days prior to the effective date of the cancellation. During that 30-day period, the principal can still have a claim filed against them until the cancellation is in full effect.
How to become a public adjuster in Indiana
Applicants looking to become an Indiana public adjuster must complete all the requirements, including but not limited to the following:
- Minimum 18 years old
- Resident of Indiana
- Determined to be trustworthy, reliable, and of good reputation
- Complete written public adjuster examination
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