New Mexico Public Adjuster Bonds

New Mexico Public Adjuster Bond

The Superintendent of Insurance, Producer Licensing Bureau is responsible for exactly what is described in its title—managing the licensure and regulation of insurance agents/business entities within the State of New Mexico. This includes those seeking a public adjuster or independent adjuster license. To receive and maintain such a license, the Bureau requires a $10,000 bond. 

Get your bond in minutes:

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Jet Insurance Company provides both the Public and Independent Adjuster Bonds to act as a means of restitution to any party (the Bureau themselves or a policyholder) that has been financially damaged by the adjuster due to a license violation. 

Both the Public and Independent Adjuster Bonds are available for just $5 a month!

What Is the Lowest Price for the Public Adjuster Bond and the Independent Adjuster Bond? 

At Jet, prices for the $10,000 Public Adjuster Bond and the $10,000 Independent Adjuster Bond are a small percentage of the bond’s limit and are based on a soft credit check of the applicant. For example, either bond may be purchased at $50 for a one-year bond term or a convenient $5 a month. 

If you are interested in additional payment options, take a look at the price chart below for further details.

Bond TermCost
Monthly$5
1 Year$50
2 Years$88
3 Years$125
NM Adjuster Bond Pricing

To get started with purchasing either surety bond, all you need to do is select the “Quote” button at the top of the page!

What Is the Purpose of the New Mexico Adjuster Bonds?

As stated before, the New Mexico Office of the Superintendent of Insurance, Producer Licensing Bureau manages and regulates the insurance industry, which includes the licensing of resident/non-resident agents and business entities (i.e. public and independent adjusters).

Once licensed, all applicable regulations pursuant to Chapter 59A, Article 13 of the New Mexico Insurance Code must be followed. If the licensee is found guilty of violating such rules or committing unethical business practices, funds from the appropriate surety bond (either the Public Adjuster Bond or the Independent Adjuster Bond) may be used to recompense the damaged party for any wrongful financial losses. The purpose of each bond is to simply provide financial protection to the Bureau themselves, as well as New Mexico consumers.

How to Apply for the Public and Independent Adjuster Bonds With Jet 

At Jet, your application for either surety bond may be completed fully online! To begin, some general information is required such as your contact details and social security number for a soft credit check (this process will not impact your current credit score so no need to worry). Once the application has been submitted, a Jet underwriter will present you with approved rate options that are available for immediate purchase. Following the official purchase, Jet will instantly send you a copy of your receipt and bond form via email.

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For details on the bond filing process with the Bureau, read further below. 

Can Jet File the New Mexico Public Adjuster Bond or the Independent Adjuster Bond for Me?

The Jet team can file your surety bond for you at no extra cost! However, if you would prefer to take care of the filing process yourself, the option to do so may be selected at checkout.

Either way, the original signed and sealed bond form and any other licensure paperwork must be submitted to the Office of the Superintendent of Insurance, Producer Licensing Bureau at the following mailing address:

Office of Superintendent of Insurance
Producer Licensing Bureau 
1120 Paseo de Peralta 
Santa Fe, NM 87501

How to Renew My Bond

For annually-purchased bonds, see Jet’s process to renew your bond. Hint- it’s simple.

How to Cancel My Bond

See the details surrounding canceling your bond.

Bond Claim Process

Read here to find out what causes a bond claim and what happens after a claim is made.

New Mexico Public Adjuster Bond Form

Notary Bond Application:

X

Business Information:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Employee Dishonesty Bond Application:

Business Information:

Business Description:

Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Contract Bond Application:

X

Business Information:

Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

X

Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: