Virginia Public Adjuster Bond Quick Answers

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Virginia Public Adjuster Bond Cost

The Virginia Public Adjuster Bond cost depends on the required $50,000 bond amount and selected term length. Jet lists monthly, one-year, two-year, and three-year options for eligible public adjuster applicants.

Bond Amount vs Bond Cost

The bond amount is the coverage required by Virginia. The bond cost, also called the premium, is the price paid to purchase the bond. These are not the same thing.

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Which Virginia Public Adjuster Bond Do I Need?

Virginia’s bond requirement applies to public adjuster licensing. Use the exact applicant name and license type shown on your Virginia Bureau of Insurance, NIPR, Sircon, or license application paperwork when requesting your quote.

Important: Virginia’s SCC public adjuster page says the application attestation requires the bond number, bond effective date, and insurer name. Keep those details available when completing the electronic application.

Not sure which bond applies? Contact Jet at (855) 516-3348 or [email protected] before starting your quote.

What You Need to Start a Virginia Public Adjuster Bond Quote

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Who Needs a Virginia Public Adjuster Bond?

What Is the Purpose of a Virginia Public Adjuster Bond?

A Virginia Public Adjuster Bond is a license surety bond required for Virginia public adjuster licensing. The bond supports compliance with the laws and regulations of the Commonwealth of Virginia that apply to public adjusters.

Virginia Form PA-2 states that the bond is required for a principal applying to the State Corporation Commission for a license to act as a public adjuster. If the principal conducts business under the license in accordance with Virginia public adjuster laws and regulations, the bond obligation is void. Otherwise, the bond remains in full force and effect.

Virginia Public Adjuster Bond vs Insurance

The Virginia Public Adjuster Bond is not insurance for the adjuster. It protects others and supports compliance with Virginia licensing law. If the surety pays a valid claim, the bonded principal must reimburse the surety.

Virginia Public Adjuster License Rules to Know

Virginia public adjusters are licensed by the State Corporation Commission, Bureau of Insurance, under Article 4.1 of Chapter 18 of Title 38.2 of the Code of Virginia. Applicants and licensees should follow SCC, NIPR, Sircon, bond, renewal, continuing education, and conduct requirements.

• No person may engage in the business of public adjusting in Virginia without first applying for and obtaining a public adjuster license from the Commission.
• Public adjusting means acting on behalf of an insured in relation to first-party claims arising under insurance contracts that insure real or personal property.
• Each applicant must attest that a $50,000 bond is in force and will remain in force while the license remains active.
• The bond must be in favor of the Commonwealth of Virginia with corporate sureties licensed by the Commission.
• The electronic application requires the bond number, effective date, and insurer name.
• The Bureau currently does not require receipt of the actual bond as a condition of licensure.
• The Commission may ask for a copy of the bond or other evidence of financial responsibility at any time.
• Resident individual applicants must pass the Virginia pre-licensing Public Adjuster Examination.
• Resident individual applicants must obtain a Virginia Criminal History Record Report from the Virginia State Police.
• Business entities acting as public adjusters must obtain a public adjuster license.
• Agencies must maintain a Designated Licensed Producer licensed in Virginia as a public adjuster.
• Public adjuster licenses renew every 24 months from the original license issue date.

Virginia Business Entity Public Adjuster Notes

If a partnership, corporation, or limited liability company acts as a public adjuster in Virginia, it must obtain a public adjuster license.

Each partner or employee of a partnership must be licensed if acting as a public adjuster. Each officer, director, or employee of a corporation, and each member, manager, or employee of a limited liability company, must be licensed if acting as a public adjuster.

Insurance agencies are required to maintain a Designated Licensed Producer who is licensed in Virginia as a public adjuster and responsible for the agency’s compliance with insurance laws and regulations. For LLCs and partnerships, the Bureau accepts members and partners as the DLP.

Virginia Public Adjuster Fee and Conduct Rules

Virginia public adjusters must be fair and honest in all communications with insureds, insurers, and insurer representatives. Virginia also restricts who can accept compensation for investigating or settling claims, preparing or filing claims, negotiating settlements, advertising as a public adjuster, or soliciting and adjusting claims on behalf of an insured.

• A public adjuster may not require, demand, or accept a fee, retainer, compensation, deposit, or thing of value before settlement of a claim.
• Public adjuster compensation must be fair and reasonable in relation to the work performed.
• In a catastrophic disaster, a public adjuster may not charge, agree to, or accept compensation equal to more than 10% of insurance settlement proceeds.
• A public adjuster may not charge based on amounts paid to the policyholder before the written contract.
• A contract may not require the policyholder to authorize an insurer to issue a check only in the public adjuster’s name.
• A contract may not impose collection costs or late fees.
• A public adjuster may not have a financial interest in any aspect of an insured’s claim other than the compensation established in the written contract.
• A public adjuster may not participate directly or indirectly in reconstruction, repair, or restoration of damaged property that is the subject of a claim adjusted by that public adjuster.

Virginia Bond Form Notes

Virginia Form PA-2 is titled “Bond for Public Adjusters.” The bond form identifies the principal, surety, bond number, $50,000 penal sum, and Commonwealth of Virginia obligee.

The bond form states that it is required under § 38.2-1845.2 C 3 or § 38.2-1845.5 A 5 of the Code of Virginia. It also states that the surety may be released from liability for future breaches only after 60 days have elapsed from giving written notice to the State Corporation Commission.

Filing note: Even though the Bureau currently does not require receipt of the actual bond as a condition of licensure, keep a copy of the signed bond and Power of Attorney because the Commission may ask for evidence of financial responsibility at any time.

How the Virginia Public Adjuster Bond Process Works

Who Files the Virginia Public Adjuster Bond?

Virginia public adjuster bond filing should follow the instructions provided by the Virginia State Corporation Commission, Bureau of Insurance, NIPR, Sircon, or the applicant’s license application.

Current SCC Application Attestation

The SCC public adjuster page says the electronic application includes an attestation where the applicant certifies that the $50,000 bond is in force and will remain in force while the license is active. The application requires the surety bond number, effective date, and insurer name.

The Bureau currently does not require receipt of the actual bond as a condition of licensure. However, Virginia law allows the Commission to ask for a copy of the bond or other evidence of financial responsibility at any time.

Mailing Address if SCC Specifically Requests Paper Documents

Virginia State Corporation Commission
Bureau of Insurance
P.O. Box 1157
Richmond, VA 23218
Phone: (804) 371-9631

Before Filing

Confirm that the applicant name, business entity name when applicable, bond amount, effective date, bond number, insurer name, Power of Attorney, signatures, seal when required, and application workflow match the Virginia application instructions.

Contact Jet at (855) 516-3348 or [email protected] and we can help confirm the filing method for your license.

Popular Public Adjuster Bond State Guides

Multi-State Public Adjusters

Working across state lines is common during catastrophe seasons and for national programs. Keep each public adjuster license organized so bonds, online application attestations, business entity filings, DLP rules, continuing education, and renewal requirements do not lapse or get submitted incorrectly.

How to Avoid a Virginia Public Adjuster Bond Claim

• Follow Article 4.1 of Chapter 18 of Title 38.2 of the Code of Virginia and SCC public adjuster licensing instructions.
• Maintain the required $50,000 Public Adjuster Bond while licensed.
• Keep the bond number, effective date, and insurer name accurate in the license application attestation.
• Keep a copy of the bond and supporting documents because the Commission may request proof at any time.
• Be fair and honest in all communications with insureds, insurers, and insurer representatives.
• Do not accept compensation for public adjusting work unless properly licensed.
• Do not request or accept fees, retainers, compensation, deposits, or other things of value before settlement of a claim.
• Do not charge more than 10% of insurance settlement proceeds in the event of a catastrophic disaster.
• Do not participate in reconstruction, repair, or restoration of damaged property that is the subject of a claim you adjusted.
• Keep accurate claim files, contracts, communications, settlement records, fee records, and payment records.
• Renew the license, bond, and continuing education on time.

What Happens if a Claim Is Filed?

Jet investigates, requests documents, and makes a decision. If the claim is valid, Jet pays up to the bond limit and then seeks reimbursement from the bonded principal under the indemnity agreement.

Read Jet’s Surety Bond Claims Guide

Want to Know More About Public Adjuster Bond Processes?

More public adjuster bond information is available in Jet’s Public Adjuster Bonds guide.

Questions about renewals, cancellations, or claims? Contact Jet at (855) 516-3348 or [email protected].

Virginia Public Adjuster Bond FAQ

What is a Virginia Public Adjuster Bond?

A Virginia Public Adjuster Bond is a $50,000 license surety bond required for Virginia public adjuster licensing.

Who needs a Virginia Public Adjuster Bond?

Resident and nonresident public adjusters, and business entities acting as public adjusters, must keep the $50,000 bond in force while licensed.

How much does a Virginia Public Adjuster Bond cost?

Jet lists the Virginia Public Adjuster Bond at $22 monthly, $219 for one year, $383 for two years, or $548 for three years.

What Virginia public adjuster bond limit do I need?

Virginia requires a $50,000 Public Adjuster Bond.

Who is the obligee for the Virginia Public Adjuster Bond?

The Virginia Public Adjuster Bond is in favor of the Commonwealth of Virginia.

Does Virginia require the original bond to be filed before licensing?

Currently, the Bureau does not require receipt of the actual bond as a condition of licensure. The electronic application includes an attestation that the applicant has and will keep the $50,000 bond in force, and the application requires the bond number, effective date, and insurer name.

Can Virginia ask for a copy of the bond?

Yes. Virginia law says the Commission may ask for a copy of the bond or other evidence of financial responsibility at any time.

How do I buy a Virginia Public Adjuster Bond online?

Start a quote online, select Virginia and Public Adjuster Bond, review the available term options, and keep the bond details ready for your application attestation. For help, call Jet at (855) 516-3348 or email [email protected].

Is a Virginia Public Adjuster Bond insurance?

No. A Virginia Public Adjuster Bond is not insurance for the adjuster. It protects others and supports compliance with Virginia licensing law. If the surety pays a valid claim, the bonded principal must reimburse the surety.

Does a Virginia public adjuster business entity need a bond?

A business entity acting as a public adjuster must obtain a public adjuster license and attest to the $50,000 bond requirement. Confirm whether the bond should be issued in the entity name, individual name, or both based on the application instructions.

Can the Virginia Public Adjuster Bond be cancelled?

Yes. Virginia Form PA-2 states that the surety may be released from liability for future breaches only after 60 days have elapsed from giving written notice to the State Corporation Commission.

When does a Virginia public adjuster license renew?

Virginia public adjusters renew every 24 months from the original public adjuster license issue date.

Can Jet help with public adjuster bonds in multiple states?

Yes. If you need public adjuster bonds in Virginia and other states, contact Jet at (855) 516-3348 or email [email protected] to discuss the states, license types, bond limits, and filing instructions needed.