Minnesota Public Adjuster Bond Guide
If you are working as a public insurance adjuster in Minnesota, you'll need to purchase a surety bond. Read on to learn all about the bonding process.
Bond Overview
- Purpose: To hold public adjusters financially liable for fraudulent or dishonest practices
- Who Needs It: All public insurance adjusters working in Minnesota
- Regulating Body: The Minnesota Department of Commerce
- Required Coverage: $10,000
- Premium Rate: $100 for a 1-year term
What Is a Minnesota Public Adjuster Bond?
The Minnesota Department of Commerce requires all public adjusters in the state to file a $10,000 public adjuster bond. This bond ensures public adjusters conduct business according to Minnesota Statutes, Chapter 72B.
How Much Do Public Adjuster Bonds Cost?
You can buy a $10,000 Minnesota public insurance adjuster bond instantly online for $100. Or, you can save up to 25% by purchasing a 2-year term bond for $175 or a 3-year term bond for just $250.
Get your bond in minutes — no application or credit check needed!
How Does a Minnesota Public Adjuster Bond Work?
By purchasing this bond, you enter a legally-binding contract between three parties:
- Obligee: The Minnesota Department of Commerce
- Principal: You, the public insurance adjuster
- Surety: The entity providing the bond
If a public adjuster is found guilty of fraud, dishonesty, forgery or theft, claims can be made to recover damages up to $10,000.
How Do I Get a Public Adjuster Bond in Minnesota?
To apply for and purchase your Washington, D.C. public adjuster bond, complete the following steps:
- Buy online through our secure payment portal
- Get your bond instantly by email
- File your bond with the Department of Commerce
How to Become a Public Adjuster in Minnesota
All public adjusters must be licensed with the Department of Commerce. To become a public adjuster in Minnesota, follow these basic steps:
- Pass the state examination
- Submit fingerprints
- Complete and submit the application form through Sircon
- File your $10,000 surety bond
Licensing requirements differ based on resident status. Non-residents have different requirements, so be sure to check with the Minnesota Department of Commerce. For more detailed information, refer to the resources listed below.
