New Hampshire Premium Finance Company Bond Guide
Insurance premium lenders in New Hampshire are legally required to file surety bonds with the state. Learn how the bonding process works and get your free quote today.
Bond Overview
- Purpose: To protect customers who purchase insurance premium loans if the lender acts illegally
- Who Needs It: Company owners that offer insurance premium financing
- Regulating Body: The New Hampshire Insurance Department, Financial Regulation Division
- Required Coverage: $250,000
- Premium Rate: 1–10%, credit-based
What Is a New Hampshire Premium Finance Company Bond?
A New Hampshire insurance premium finance company bond protects customers who purchase insurance premium loans.
If the lending business breaks financial industry regulations or acts illegally, the bond provides financial security to pay claims.
The New Hampshire Insurance Department requires this bond to ensure timely payment if claims arise.
How Much Do Premium Finance Company Bonds Cost in New Hampshire?
Insurance premium finance companies in New Hampshire need $250,000 surety bond coverage. Rates are based on the personal credit score of all owners, starting at 1%.
With excellent finances, you could pay $2,500 to $5,000. Apply now to receive your personalized quote in less than one business day.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a New Hampshire Premium Finance Company Bond Work?
An insurance premium finance company surety bond creates a legally-binding contract between three parties:
- Principal: The company owner(s) filing the bond
- Obligee: The New Hampshire Insurance Department, Financial Regulation Division requiring the bond
- Surety: The provider issuing the bond
If a bonded principal breaks the bond terms, the obligee or harmed consumers can file a claim on the bond. The surety will pay valid claims up to the full bond amount.
However, the premium finance company owners are ultimately responsible for refunding the surety.
How Do I Get a Premium Finance Company Bond in New Hampshire?
SuretyBonds.com makes getting bonded fast and easy for New Hampshire insurance premium financing providers. Just follow these quick steps to get your bond:
- Apply: Submit an online application form.
- Quote: Receive a free quote within one business day or less.
- Purchase: Pay for your bond online or over the phone.
- File: Submit the original bond form the Insurance Department.
If you have any questions about the process, our surety experts are here to help. Email [email protected] or call 1 (800) 308-4358 for assistance.
How Fast Can I Get My Bond?
SuretyBonds.com is one of the fastest online surety bond providers. With live surety experts available Monday through Friday and weekend underwriting, we provide most quotes same-day.
You can checkout online at your convenience
How Do I Renew My Premium Finance Company Bond?
These bonds expire annually. To renew your coverage, simply pay your renewal premium when prompted. Your account team will provide email and phone reminders when your bond is up for renewal.
As long as there are no bond claims, your bond will remain active until officially cancelled by the New Hampshire Insurance Commissioner or the surety.
