How much does a public adjuster bond cost in New Jersey?
Public adjusters in New Jersey must submit a surety bond in the amount of $10,000 to the New Jersey Department of Banking and Insurance.
SuretyBonds.com issues these bonds instantly for just $100—no underwriting required! Simply click Buy Now to purchase your bond using our secure online payment portal. In just a few minutes you can be on your way to being bonded as a public adjuster in New Jersey.
|Bond Type||Bond Amount||Cost|
|$10,000 Public Adjuster Bond||$10,000||$100|
Why do I need this bond?
New Jersey public adjuster bonds ensure that principals (public adjusters) abide by the provisions stated in the N.J.S.A. 17:22B-1 et seq. Under this bond, principals are required to perform all tasks as promised in their contracts and pay all taxes and fees owed to the state. If a principal violates the terms of the bond agreement and a consumer is harmed, the surety will cover all damages up to the full bond amount. The principal must then compensate the surety for any financial loss.
What’s the fine print?
New Jersey public adjuster bonds are required by the Commissioner of Banking and Insurance. This specific bond is continuous until canceled. If the surety wishes to cancel this bond for any reason, 30 days’ written notice must be given to the state prior to the termination date.
How to become a public adjuster in New Jersey
Public adjusters in New Jersey are subject to the following licensing requirements :
- Complete electronic fingerprinting process
- Provide exam score report
- Furnish two passport-sized photographs
- Obtain surety bond in appropriate amount
- Pay $70 fee ($50 licensing fee; $20 processing fee)
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