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The Virginia Title Insurance Settlement Agent Bond is a type of surety bond required by the Commonwealth of Virginia to be in the amount of $200,000. The cost of the surety bond is usually between 1% and 3% of the bond amount.

How to Get a Virginia Title Insurance Settlement Agent Bond

At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:

1. Complete the easy to navigate and secure online application. ¹
2. Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day. ²
3. Sign some paperwork and pay the bond premium

Once these steps have been completed, the Virginia Title Insurance Settlement Agent 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.
2- Subject to underwriter approval, based on aggregate surety bond exposure, additional underwriting information may be required}

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.

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Who is required to get this bond?

The Virginia Title Insurance Settlement Agent Bond requirement applies to:

1. Lay settlement agents: Individuals or businesses providing settlement services who are not attorneys, title insurance companies, real estate brokers, or financial institutions
2. Title insurance agencies: Unless they are directly affiliated with a licensed title insurance company.
3. Business entities: Partnerships, LLCs, or corporations acting as settlement agents.

Exemptions include:

• Licensed Virginia attorneys
• Title insurance companies
• Real estate brokers
• Financial institutions and their affiliates

Additional License Requirements

To become a licensed settlement agent in Virginia, you must:

1. Complete pre-licensing education (16-hour course)
2. Pass the title insurance examination
3. Submit fingerprints for background check
4. Register with the Virginia State Corporation Commission
5. Maintain the required $200,000 Virginia Title Insurance Settlement Agent Bond

The registration may be done online HERE.