Tennessee Public Adjuster Bond Overview
- Purpose: To ensure adjusters fully account for and pay funds for client insurance transactions
- Who Needs It: All public adjusters working in Tennessee
- Regulating Body: The Tennessee Department of Commerce & Insurance
- Bond Amount: $50,000
- Price: $500 for a 1-year term
In Tennessee, all public adjusters must file a surety bond. Read on to learn more about this requirement and how to get one.
What Is a Tennessee Public Adjuster Bond?
If you’re applying for a Tennessee public adjuster license, the Department of Commerce & Insurance (TDCI) requires you to file a $50,000 surety bond.
A Tennessee public adjuster bond ensures you will comply with state regulations and provides financial protection for clients and insurers if you violate those standards.
How Much Do Public Adjuster Bonds Cost in Tennessee?
Tennessee public adjuster bonds cost a flat rate of $500 annually with no credit check required.
You can select a multi-year term at checkout to save 25% and time on renewals. 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 Tennessee Department of Commerce and Insurance requires this bond for public insurance adjuster licensing. If you work as an insurance adjuster in states other than Tennessee, we also offer insurance adjuster bonds nationwide.
How Does a Tennessee Public Adjuster Bond Work?
A Tennessee public adjuster bond creates a legally binding contract between these three parties:
| Bond Party | Description |
|---|---|
| Principal | The public adjuster filing the bond |
| Obligee | The Tennessee Department of Commerce & Insurance requiring the bond |
| Surety | The issuing surety provider |
What Is the Tennessee Public Adjuster Law?
Under Tennessee Code Annotated Section 56-6-911, all resident and nonresident public adjusters must file a $50,000 surety bond.
The Tennessee Public Adjuster Licensing Act prohibits the following adjusting practices:
- Misusing client funds
- Forging signatures on insurance documents
- Misrepresenting insurance contract terms
- Intentionally making false insurance claims
- Allowing an unlicensed person to handle claims
If you commit any of these acts, harmed parties can file claims on the bond. The surety will pay valid claims up to the full $50,000 bond amount. However, you must ultimately refund the surety.
How Do I Get a Public Adjuster Bond in Tennessee?
With SuretyBonds.com, you can purchase your Tennessee public adjuster bond online 24/7.
Simply enter your name and address into our secure online portal. We’ll email your bond directly to you within minutes of purchase.
Once you receive your official bond form, you’ll still need to file it with the TDCI.
Can I Get Bonded With Bad Credit?
Yes, this bond doesn’t require a credit check! Everyone qualifies for the same flat rate, regardless of credit score.
How Do I Renew My Public Adjuster Bond?
Tennessee public adjuster bonds expire annually.
We’ll begin reminding you by phone and email 90 days before the expiration date. To renew, simply pay the attached invoice.
Can I Make Changes to My Bond?
Yes, you can often make minor changes to an existing bond form, such as your name or address. If you need to alter your bond, contact your surety company explaining the needed change.
If you purchased your bond from us, email [email protected] with the updated information.
How to Get a Public Adjuster License in Tennessee
To become a public adjuster in Tennessee, you’ll need to apply for a license with the Department of Commerce & Insurance. Follow these simple steps:
- Verify Eligibility: You must be at least 18 years old and maintain a physical office in your home state.
- Pass an Exam: Register for the Pearson VUE public adjuster exam and pay the $50 fee. Nonresidents are exempt.
- Purchase a Surety Bond: Purchase the required $50,000 surety bond.
- Purchase Insurance: Purchase a $500,000 errors and omissions policy.
- Submit Fingerprints: Register for a fingerprinting session on IdentoGO.
- Apply: Complete the application form online via NIPR and pay the $100 fee. You must wait at least 48 hours after taking the exam before you can apply.
Business entities will need to complete a separate application form and designate a licensed public adjuster.
How Do I Renew My License?
Tennessee public adjuster licenses expire every two years on the issue date.
Complete the renewal form on NIPR and pay the $100 fee to maintain your adjuster license for another year. You’ll also need to complete 24 hours of approved continuing education. Nonresidents must meet their home state education requirements.
