How much does a motor vehicle damage appraiser bond cost in Nevada?
The Nevada Division of Insurance requires motor vehicle damage appraisers to obtain a $2,500 surety bond prior to conducting business within the state.
SuretyBonds.com issues these bonds instantly for just $100. Simply click Buy Now to purchase your bond online via our secure bond checkout. In just a few minutes you can be on your way to getting bonded as a damage appraiser in Nevada.
|Bond Type||Bond Amount||Cost|
|$2,500 Motor Vehicle Damage Appraiser Bond||$2,500||$100|
Why do I need this bond?
Motor vehicle damage appraiser bonds ensure that appraisers perform their duties in accordance with NRS 683A.
Should the appraiser fail to adhere to all applicable regulations, resulting in damages, a claim may be made against the bond up to the full $2,500 amount.
What’s the fine print?
Nevada motor vehicle damage appraiser surety bonds are required by the Insurance Division of the Department Business and Industry. This bond will remain continuous until canceled and must be renewed annually for as long as the licensee wishes to keep their license active. In the event that the surety wishes to cancel the bond, 30 days’ written notice must be given to the obligee.
Every vehicle appraised must be insured under automobile physical damage policies.
How to become a vehicle appraiser in Nevada
In addition to posting a surety bond, Nevada vehicle appraisers must meet the following requirements prior to receiving a license:
- File completed application on specified form with Department
- Furnish information about his or her identity, personal history, experience, financial responsibility, and business records to establish eligibility and qualifications
- Pay required application fees
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