How much does an independent adjuster bond cost in New Mexico?
The New Mexico Office of Superintendent, Insurance Producer Licensing Bureau requires the state’s independent adjusters to post a $10,000 surety bond before they can be licensed. SuretyBonds.com can instantly issue this bond for just $100! Everyone qualifies for the same low rate without a credit check.
Our expert surety specialists can get you bonded in less than 5 minutes. Give us a call at 1 (800) 308-4358, or contact us online now!
|Bond Type||Bond Amount||Cost*|
|Independent Adjuster Bond||$10,000||$100||Buy Now|
Why do I need this bond?
This bond ensures that the principal (licensee) complies with New Mexico Insurance Code provisions that pertain to insurance adjusters. If a principal fails to follow the rules and regulations of this code and consumers are harmed, a claim can be made against the bond. The bond can provide reparation for damages if the licensee is found guilty of law violations or unfair practices while working as a licensed independent adjuster.
What’s the fine print?
The licensee’s social security number and place of residence must be listed on the bond form. These bonds are continuous until canceled. If the bond is to be canceled, the surety must submit a cancellation notice to the Agent Licensing Bureau at least 30 days prior to the cancellation date.
How to become an independent adjuster in New Mexico
To be licensed as an independent adjuster in New Mexico, applicants must:
- be at least 18 years old
- reside in New Mexico
- fully complete the license application
- submit a $10,000 surety bond
- pay the $30 license fee
Detailed licensing requirements can be found in the “Important Links” section on this page.
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