In order to be licensed as a public adjuster (individual, firm, association, or corporation) within the State of New Jersey, a surety bond must be filed and maintained with the Department of Banking and Insurance.
The Public Adjuster Bond is provided by Jet Insurance Company as an assurance to the Department that consumers/policyholders of the public adjuster will be financially protected from wrongful damages in cases a license violation has been committed.
The Public Adjuster Bond is available for purchase via Jet’s exclusive monthly payment plan—prices start at just $5 a month!
At Jet, the cost of the Public Adjuster Bond is a small percentage of the required $10,000 limit and is based on a soft credit check of the applicant. For instance, prices start at $50 for a one-year bond term or a convenient $5 a month.
Jet also offers multi-year bond terms. Examples of our preferred tier rates may be viewed in the price chart below.
According to the Department of Banking and Insurance, your public adjuster license must be renewed every two years. With this in mind, Jet provides monthly and multi-year payment plans so that you won’t have to worry about renewing your bond each year to maintain your license.
According to the New Jersey Department of Banking and Insurance, public adjusters are responsible for acting or aiding an insured consumer in the negotiation and/or settlement of a property or casualty claim. When doing so, the licensee must follow applicable regulations pursuant to the N. J. S. A. Public Adjusters’ Licensing Act, as well as fulfill all contractual obligations. If the public adjuster ends up committing a violation such as negligence, unethical behavior, breach of contract, and/or fraud, the surety bond may act as a means of restitution to any damaged party impacted by the licensee’s negative actions.
Jet’s application for the New Jersey Public Adjuster Bond is quick and easy! To get started, our team will need some general information, like, your contact details and social security number. No need to worry though—this info is required to run a soft credit check only, so it won’t have an impact on your score.
As soon as your application has been officially submitted, a Jet underwriter will provide you with an approved rate that is available for immediate purchase. Once your purchase has been completed, a copy of your receipt and the bond form will be instantly sent to the email on file. Submitting your bond for filing with the Department will be your next step. Read below for further details.
The original signed and sealed Public Adjuster Bond form, along with any other required paperwork must be submitted for filing with the New Jersey Department of Banking and Insurance at the following mailing address:
New Jersey Department of Banking and Insurance
Licensing Services Bureau
PO Box 327
Trenton, NJ 08625
If you are interested, the Jet team can take care of the filing process for you at no extra cost. However, if you would prefer to file the bond form yourself, simply select the option to do so at checkout and follow the filing process stated above.
Public adjuster initial/renewal license applications and other documents can be found on the Department’s Licensing & Education webpage.