Ohio Public Adjuster Bond Overview
- Purpose: To hold public adjusters financially liable for fraudulent or dishonest practices
- Who Needs It: All public insurance adjusters working in Ohio
- Regulating Body: The Ohio Department of Insurance
- Bond Amount: $1,000
- Minimum Price/Premium Price: $100 for a 1-year term
If you’re a public adjuster working in Ohio, you’ll need to purchase a surety bond. Read on to learn all about the bonding process.
What Is an Ohio Public Adjuster Bond?
The Ohio Department of Insurance requires all public adjusters to file a $1,000 surety bond for state licensing.
This bond protects insurers and clients from unethical adjusting practices. For example, if a public adjuster makes a false claim or misuses consumer funds, the bond amount will cover any financial losses.
How Much Do Public Adjuster Bonds Cost in Ohio?
An Ohio public adjuster bond costs a flat rate of $100 annually. You can also select a multi-year term at checkout to save 25%. Click below to buy your bond in minutes.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
The Ohio Department of Insurance requires this bond for public insurance adjuster licensing. The DOI also enforces a separate Ohio surplus lines broker bond requirement. If you work as an insurance adjuster in states other than Ohio, we also offer insurance adjuster bonds nationwide.
How Does an Ohio Public Adjuster Bond Work?
An Ohio public adjuster bond creates a legally binding contract between these three parties:
| Bond Party | Description |
|---|---|
| Principal | The public adjuster filing the bond |
| Obligee | The Ohio Department of Insurance requiring the bond |
| Surety | The issuing surety provider |
What Is the Ohio Public Adjuster Bond Law?
Under Ohio Revised Code Section 3951.06(D), all public adjusters working in the state must file a $1,000 surety bond. By filing this bond, you promise to uphold state standards.
If you commit any prohibited acts, harmed parties can file claims on the bond. The surety will cover valid claims up to the $1,000 bond amount. However, you are ultimately responsible for repaying the surety.
How Do I Get a Public Adjuster Bond in Ohio?
With SuretyBonds.com, you can purchase your Ohio public adjuster bond online 24/7.
Simply enter your information in our secure online portal. Once we process your payment, you’ll receive your official bond form via email.
Be sure to file the bond with the Ohio Department of Insurance as instructed.
How Long Does It Take to Get My Bond?
This bond is available for instant purchase. As soon as you enter a payment method, we’ll email your official bond form within minutes.
Can I Get Bonded With Bad Credit?
Yes, this bond does not require a credit check! Everyone can purchase this bond at the same flat rate.
How Do I Renew My Public Adjuster Bond?
Ohio public adjuster bonds expire annually. To renew, simply pay the invoice when prompted. We’ll begin reminding you by phone and email 90 days before the expiration date.
How Do I Update My Bond Information?
To change any information on your bond, contact your surety company. This typically includes correcting your name or address to match your license application.
If you purchased your bond from us, email [email protected] explaining the needed change.
What If I’m Already Licensed and Bonded in Another State?
The Ohio Insurance Department only offers exam waivers for qualifying states. Applicants still need to meet all other licensing requirements.
This means that you’ll still need to file the $1,000 bond, even if you’re already bonded in your home state.
How to Become a Public Adjuster in Ohio
The Ohio Department of Insurance regulates all public adjusters in the state. To apply for a license, follow these steps:
- Verify Eligibility: You must be 18 years old and have no disqualifying actions on your record. Nonresidents need to hold an active license in their home state.
- Pass an Exam: Pass the Ohio public insurance adjuster exam with a score of 70%. The fee is $49.
- Purchase a Bond: Purchase the required $1,000 surety bond.
- Apply: Complete the license application either on paper or through NIPR. The fee is $100.
What Is a Public Adjuster Agent?
Unlike most states, Ohio licenses employees of public adjusters as agents. Agents can help investigate claims, settle losses and secure contracts.
However, agents don’t need to pass the exam or file a surety bond. To apply, submit the same application form and pay the $50 fee.
