Iowa Public Adjuster Bond

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Who is Required To Purchase the Iowa Public Adjuster Bond?

Every licensed public adjuster is required to purchase this surety bond. In the licensing documentation, you'll often see this referred to as "financial responsibility".

The Iowa Insurance Division has set the bond amount at $50,000.

This bond amount is the maximum amount of financial protection available to clients if they are purposefully and financially harmed by a public adjuster.

 

Why is an Iowa Public Adjuster Bond Required?

The Iowa Insurance Division has a licensing process because they want only the individuals and businesses who are most capable of being successful public adjusters.

But just because an individual or business gets licensed does not mean they will always act faithfully towards their customers. It's unfortunate, but every year there are always a few licensed public adjusters who purposefully:

• Charge exorbitant fees for successful claims
• Falsely recommend a customer to increase the number of claims for higher commissions
• Lying to a customer or insurance company to extract higher claim payouts

If a public adjuster is found guilty of committing these acts or similar acts, the harmed client can make a claim against the public adjuster's surety bond. This is where the $50,000 comes in. The maximum amount of any one claim, including the sum or multiple claims is capped at that $50,000 amount.

 

How Much Does the $50,000 Iowa Public Adjuster Bond Cost?

Surety bonds are similar to insurance and it's priced by a surety (an insurance company) that underwrites public adjuster bonds.

We are Surety Bonds Direct, a specialized surety agency, and it's our job to help you find the lowest possible price for your public adjuster surety bond.

These bonds are called a credit driven bond because these are the factors a surety will look at when they determine a rate to quote.

• Your personal credit
• Any relevant business history and experience
• The bond history if you've been licensed before in the past

From these factors the surety will quote a rate and this rate multiplied by the $50,000 bond amount will be the price you pay for the bond term.

The bond term in this case is 12 months from when you purchase your bond. So again, it's one payment for that 12 month period.

The thing is each surety will quote a different rate. And most of the time, these rates will be wildly different. We commonly see rates come in 2 to 3 percentage points different.

 

Iowa Public Adjuster Bond Example Pricing

This is why we price shop for our customers.

Here is some example pricing so you can see how much money you may be able to save by getting a lower rate. Pay attention to how 1 to 2 to 3 percentage points drastically changes the price of the bond.

You can get your pricing today with no obligation to purchase by having us price shop for you now.

Click here and request a quote or call a bond specialist at 1-800-608-9950. You are under no obligation to purchase the bond. All price quotes are valid for 30 days so when you're ready, you can purchase your bond.

 

How Long Does the Iowa Public Adjuster Bond Last?

As we've mentioned, the standard bond term for these bonds is 12 months from the effective or start date. This state date is a date you choose when you complete the purchase form.

You may qualify for the option to choose a longer bond term. The primary benefit is paying a discounted price and not having to worry about your bond until that future date.

But don't worry because that's another benefit of working with a surety agency like Surety Bonds Direct. We manage your bond for you.

 

How Do You Renew a Public Adjuster Bond?

The renewal premium is the current price of the bond at the time of renewal. Pricing only changes if you've had a personal credit issue or if the Iowa Insurance Division changes the bond amount.

The Iowa Insurance Division did update the bond amount in January 2025. When this happens, it's typically in response to customer complaints collected over the years and the holder bond amount not being sufficient.

We will stay on top of changes like this for you.

When you renew your bond, the original bond you filed with the Division will stay on file. The only thing you may have to submit is a certificate of continuation, proof that you renewed your bond.

 

Public Adjuster Bonds And Getting Your Iowa Business License/Registration

Getting an Iowa public adjuster license is very straightforward.

At a high level, these are the following steps:

• Pass the Iowa public adjuster examination
• Complete the application
• Secure the required documentation
• Purchase your surety bond
• Create an adjuster client contractor template
• Submit application and complete fingerprint and criminal history check

You can keep up to date with any change in licensing and additional requirements by bookmarking the Iowa Insurance Division page.

Click here and request a quote or call a bond specialist at 1-800-608-9950. You are under no obligation to purchase the bond. All price quotes are valid for 30 days so when you're ready, you can purchase your bond.