The New Jersey Public Adjuster Bond is a type of surety bond required by the New Jersey Department of Banking and Insurance for public adjusters. A public adjuster in New Jersey is a licensed professional who represents policyholders in the process of handling their insurance claims for property damage or loss. They act on behalf of the policyholder in negotiations with insurance companies to ensure that they receive the maximum compensation they are entitled to. Public adjusters typically charge a percentage of the settlement amount as their fee. All public adjusters are required to obtain a $10,000 surety bond before they can be licensed. The cost of the surety bond is usually the minimum of $150.00.
How to Get a New Jersey Public Adjuster Bond
At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:
- Complete the easy to navigate and secure online application. 1
- Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
- Sign some paperwork and pay the bond premium
Once these steps have been completed, the New Jersey Public Adjuster Bond will be shipped to the bond applicant.
1 -The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.
Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003 and maintain an A+ rating by the Better Business Bureau.
How to Get a New Jersey Public Adjuster License
The process of obtaining a New Jersey Public Adjuster License involves completing the following steps:
- Meet the Eligibility Requirements: To be eligible for a New Jersey Public Adjuster License, you must be:
- At least 18 years old
- A high school graduate or equivalent
- A resident of New Jersey or an adjoining state
- Of good moral character
- Free of any felony or misdemeanor convictions related to insurance fraud, theft, or other criminal offenses
- Complete the Pre-Licensing Education Course: Enroll in and successfully complete a pre-licensing education course approved by the New Jersey Department of Banking and Insurance (DOBI). The course covers topics such as insurance law, ethics, claims adjusting procedures, and property damage assessment.
- Pass the New Jersey Public Adjuster Examination: Schedule and take the New Jersey Public Adjuster Examination administered by PSIexams.com. The exam consists of 70 multiple-choice questions and has a time limit of 210 minutes. A passing score of 80% is required.
- Submit the License Application: Obtain and complete the New Jersey Public Adjuster License Application Form. Attach all required documentation, including:
- A completed and notarized background investigation form
- Two passport-sized photographs
- A copy of your pre-licensing education course completion certificate
- A copy of your New Jersey Public Adjuster Examination score report
- A $70 application fee
- Obtain a $10,000 New Jersey Public Adjuster Bond
- Submit the Application and Bond: Send the completed license application, required documentation, and proof of surety bond to the New Jersey DOBI.
- Await Processing and Approval: The DOBI will review your application and supporting documents. Upon approval, you will receive your New Jersey Public Adjuster License.
Remember that these are general guidelines and the specific requirements may vary. It is always advisable to consult with the New Jersey DOBI for the most up-to-date information and procedures