How much does a public adjuster bond cost in Mississippi?
The Mississippi Insurance Department requires any person wishing to become a public adjuster to post a $50,000 surety bond.
Suretybonds.com issues these 1-year bonds instantly for $500. There’s no credit check required and we never charge additional fees. Simply click “Buy Now” to buy your bond directly through our site. Purchase your bond online safely and securely and be on on your way to becoming bonded as a public adjuster in just a few minutes.
|Bond Type||Bond Amount||Cost|
|$50,000 Public Adjuster||$50,000||$500|
Why do I need this bond?
A public adjuster bond in Mississippi is in place to protect all public adjuster’s clients. In the event that damages or losses occur as a result of the principal’s (public adjuster’s) actions, the harmed party will be awarded proper compensation by the surety. If damages occur and the surety pays to settle the claim, the principal is responsible for reimbursing the surety. The Mississippi Insurance Department requires that all public adjusters must be licensed to practice.
What’s the fine print?
Public adjuster bonds in Mississippi remain in effect for twelve months and must be renewed annually until canceled or claimed against. However, the surety has the right to cancel the bond at any time by giving written notice to the Commissioner of Insurance via registered mail with the cancellation’s effective date. Notice must be sent at least 60 days prior to the effective date of the cancellation. During that 60 day period prior to the effective date of the cancellation, the principal can still have a claim filed against them.
How to become a public adjuster in Mississippi
Applicants who wish to become a public adjuster must post a $50,000 surety bond. In addition to the bond, an applicant must do the following:
- Fill out an E&O Coverage Form, provided in the Additional Resources below
- Pay a $50 licensing fee
- Pay a $200 public adjuster entity fee
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