Title insurance agencies doing business in Florida are required to get a $35,000 Title Agent’s Bond. The bond protects against damages caused by the agency’s violation of the contract between the title insurance company and the agency.
Jet Insurance Company is the direct surety provider and has cut out pesky brokers and middlemen that tack on commissions or have you play a game of telephone just to get you a quote; Jet will give you a quote within minutes online!
Your Title Insurance Agency Bond can cost as low as $27 a month or $263 a year with Jet! We offer multiple payment options so you can pick what works best for you. As a standard in the surety industry, this bond is subject to a credit check, which may affect your price. The chart below shows what a preferred credit applicant would be approved for.
One of the things that sets Jet apart from the rest of the industry is our monthly payment option. If you choose this option, your bond is purchased on a month-to-month basis, allowing you to skip annual renewals and cancel the bond as soon as you don’t need it.
The Florida Division of Insurance Agent and Agency Services manages the licensing of title insurance agencies, but leaves enforcement of a surety bond to the Title Insurance Agency. This bond is used as protection for the insurance agency from appointed insurers that they will act ethically and comply with the contract made between the insurer and the agency. If the appointee countersign endorsements, commitments, or policies of title insurance in violation of said contract, the insurer can take action on the bond to compensate for damages.
Jet makes it easy for you! Just hit the “View Your Bond Price” button to get started. All the information that is needed can be entered online and once you are done, you will get your quote! You’ll be able to review payment options (monthly, one-year, or multi-year terms) and purchase which one to go with.
Once your payment goes through, Jet will send you a confirmation email with a receipt and a digital copy of your bond.
A physical copy of your Title Insurance Agency Bond will be mailed to you to sign and hold onto. You will need to file the bond as instructed by the title insurer when requested.