The Delaware Public Adjuster Bond in the amount of $20,000 is required by the State of Delaware in order to obtain a Public Adjuster License. Surety1 can write this bond for $200 per year (a 1% rate!) with just a filled out application.
A public adjuster, according to the Delaware Code, is a person who:
a. Acts or aids, solely in relation to first party claims arising under insurance contracts that insure the real or personal property of the insured, on behalf of an insured individual in negotiating for, or effecting the settlement of, a claim for loss or damage covered by an insurance contract;
b. Advertises for employment as an adjuster of insurance claims or solicits business or represents oneself to the public as an adjuster of first party insurance claims for losses or damages arising out of policies of insurance that insure real or personal property; or
c. Directly or indirectly solicits business, investigates or adjusts losses or advises an insured about first-party claims for losses or damages arising out of policies of insurance that insure real or personal property for another person engaged in the business of adjusting losses or damages covered by an insurance policy.
Title 18 of the Delaware Insurance Code states that no person can operate as a public adjuster unless they are licensed. To obtain a Public Adjuster License, the applicant must complete the following:
(1) The bond shall be in favor of the State and shall specifically authorize recovery by the Commissioner of the damages sustained if the licensee is convicted of fraud or unfair practices in connection with the licensee’s business as a public adjuster.
(2) The aggregate liability of the surety for all damages shall not exceed the amount of the bond.
(3) The bond shall not be terminated unless at least 30 days written notice is given to the licensee and filed with the Commissioner.
The experts at Surety1 are here to answer all of your bonding needs. All we need is a completed online application. Within one business day of your submission, one of our licensed agents will contact you with a free, no-obligation quote for the cost to obtain your bond.
Once any necessary paperwork is signed and the premium payment is remitted, your bond will be shipped to you via USPS priority mail (overnight shipping options are also available). Surety1 has been writing Public Adjuster Bonds since 2003, so you can be assured fast and reliable service.
Surety1 has maintained an A+ rating by the Better Business Bureau for its excellent service and industry knowledge.