South Carolina Public Adjuster Bonds

Purchase Your South Carolina Adjuster Bond Today

Who is Required To Purchase the South Carolina Public Adjuster Bond?

There are no special cases in South Carolina. Every individual who gets licensed is required to purchase this public adjuster surety bond in the amount of $20,000.

This $20,000 amount is set by the South Carolina Department of Insurance, written into law.

The next section looks at this in more detail, but this $20,000 amount is the monetary limit available to people or businesses harmed by the fraudulent actions of a licensed public adjuster.

 

What About A Line Of Credit?

You do have the option to provide a bank issued line or credit in the amount of $20,000.

However, to get a line of credit you often have to deposit the full $20,000 to the bank that manages the account.

Even if you have excellent credit, banks typically don't fully fund these lines of credit accounts, requiring a substantial amount of money from you to set it up.

This is why when considering a surety bond vs a line of credit, the surety bond is almost always the ideal choice. You pay a small fraction of the $20,000 amount and satisfy the requirement so you can get your license issued.

Price is detailed below.

 

Why is a South Carolina Adjuster Bond Required?

Again, this surety bond is by the South Carolina Department of Insurance as a tool to hold all licensed public adjusters accountable to following the laws that regulate the profession.

If a public adjuster chooses to commit fraud the surety bond is available to the harmed party as one source of financial compensation for the financial damages they've suffered.

Think about it like this... when the South Carolina Department of Insurance issues a license to somebody they are effectively saying:

"This person has passed the requirements to serve the South Carolina public as a public adjuster."

It's a signal to the public that licensed individuals and businesses are professionals. They can be trusted.

But unfortunately every year there are a small hand full of licensed public adjusters who will choose to commit fraud by performing actions such as:

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

When a public adjuster is found guilty of these or similar acts, the harmed party can make a claim against the surety bond for the financial damages they suffered. However, the amount of any one claim or multiple claims will be capped by that $20,000 bond amount.

So this is why a public adjuster surety bond is required and how it offers a level of protection to the public.

 

How Much Does the $20,000 South Carolina Public Adjuster Bond Cost?

Surety bonds are a type of insurance and as such they are typically priced similar to the traditional insurance you're used to.

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

But sometimes because of the bond amount or the history of claims in the state, we can provide our clients with a low fixed price and no credit check.

With the South Carolina public adjuster bond, we can offer a low fixed price and no credit check.

 

We Are Surety Bonds Direct - Your Surety Agency

We are Surety Bonds Direct, a surety agency. It's our job to find our customers the lowest possible price for their surety bonds.

We have access to a large network of A-rated sureties. These are the insurance companies that underwrite public adjuster surety bonds.

It's because of this network that we're able to find our customers the lowest prices at the best available terms.

Here's the pricing we can offer you, for immediate purchase.

• $200 for a 12 month term
• $350 for a 24 month term
• $500 for a 36 month term

Click here and purchase your bond today or call a bond specialist at 1-800-608-9950 to purchase over the phone. If you only have questions, you are under no obligation to purchase the bond.

 

How Long Does the South Carolina Public Adjuster Bond Last?

As you probably saw from the pricing table above, there's a:

• 12 month term
• 24 month term
• 36 month term

Every surety bond, it doesn't matter the industry, has a term where it's active. At the end of the term if the bond needs to remain active, it must be renewed for another term.

In South Carolina, you're required to maintain an active surety bond for as long as you're in business.

So if you choose a 12 month term you'll need to renew your bond 12 months from the activation date you choose when you initially purchase your bond.

That's another benefit of working with a surety agency like Surety Bonds Direct. We manage your bond for you.

As your bond renewal date approaches we'll email and call you 30 to 40 days in advance to remind you of your renewal date.

Plus we'll have renewal pricing ready to go. If you want to at this time you can purchase a longer term as well.

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

If bond amounts change or the requirements in South Carolina change, we'll let you know about that and help you take the appropriate action.

 

Adjuster Bonds And Getting Your South Carolina Business License/Registration

Getting an Iowa public adjuster license is very straightforward.

• Pass a state insurance examination
• Complete the application
• Secure the required documentation
• Purchase your surety bond
• Pay the licensing feel of $80
• Licensing fees for non-resident applicants are based on the fee in your home state
• Provide a South Carolina Law Enforcement Division SLED report

Click here to purchase your public adjuster bond or call a bond specialist at 1-800-608-9950. You are under no obligation to purchase the bond if you only have questions.