To receive a license in Texas, public insurance adjusters need to file a $10,000 surety bond as a contingency plan to compensate those who may suffer financial damages.
The Public Adjuster Bond covers damages caused by the adjuster’s unfair practice, negligence, and errors or omissions when negotiating or effecting settlements or loss for property insurance policies.
Purchase your Texas Public Adjuster Bond for as little as $5 a month!
With Jet, the cost of the Public Insurance Adjuster Bond is a small fraction of the $10,000 limit and is based on a soft credit check of the applicant. In most cases, you will be able to easily purchase the bond at either $50 for a one-year bond term or simply $5 a month.
Jet also offers convenient multi-year payment plans—take a look at the price chart below for further details.
It is possible for the Commissioner of the Department of Insurance to require a limit higher than $10,000. No need to worry though, you will still be able to receive a quote immediately upon submitting your application to Jet.
This license bond is required by the Texas Department of Insurance, which has a mission to make sure that all registrants in the insurance industry will be operating within the laws and statutes given. This encourages fairness and stability among insurance companies and agents, keeping the public safe from rogue licensees causing damage. The bond helps this mission by providing a way for those who are injured by the actions of such a licensee to be reimbursed.
Applying with Jet is easy and only takes a minute! You will be guided through our simplified application, putting in only the information necessary to issue the bond. Once you are done, you will find your approved quote that is ready for purchase.
Yes; you can let Jet file the Public Adjuster Bond for you or file it yourself by choosing that option when you are checking out — if filing for licensing as an agency, the bond must be filed along with your license application. After payment, Jet will get your bond form ready and mail it off to you or the Department.
The bond must ultimately be filed at this address:
Texas Department of Insurance
PO Box 149104
Austin, TX 78714
Yes, Jet will provide a refund for applicable cancellations. If you paid for the Public Adjuster Bond by the year, any time left on the bond will be refunded. However, the Department of Insurance will need a 30-day notice of cancellation; during this time, the bond is still active and the liability is ongoing. Once the Department fully cancels the bond, Jet will calculate the remaining time into a refund. Send us a written cancellation request at [email protected].
Those paying for the bond on a monthly basis are ineligible for a refund; once cancellation is final, there will be no further charges to the credit card on file.
When it is time to renew your Public Adjuster Bond, Jet will send you a notice through the mail and email. All you need to do is select your new term and pay the renewal premium. There is no additional paperwork needed once you have submitted your payment.
Monthly payments are on a pay-as-you-go basis; your bond will stay active as long as payments go through.
As a public insurance adjuster working in Texas, you are obligated to conduct business in accordance with the Texas Insurance Code, Chapter 4102. Essentially, this means that you won’t be misleading the public or making fraudulent claims to try to secure a contract, along with avoiding the prohibited acts found in Subchapter D of this Chapter. Examples of prohibited acts include, but are not limited to:
If you take part in any prohibited activity and cause a person to suffer monetary loss, you may have a chance to make amends and provide refunds. If you have such an opportunity, it is best to take it to resolve any complaints before action is taken on the bond. Once the action gets rolling, you may be liable for any legal fees that accrue as well as the ruling. Jet will be obligated to pay out the claim if you are found to have violated the Code—you will be responsible for paying Jet back in the amount of the claim.