Oklahoma Public Adjuster Bond Overview
- Purpose: To hold public adjusters financially liable for fraudulent or dishonest practices
- Who Needs It: All public insurance adjusters working in Oklahoma
- Regulating Body: The Oklahoma Insurance Department (OID)
- Bond Amount: $25,000
- Price: $250 for a 1-year term
What Is an Oklahoma Public Adjuster Bond?
An Oklahoma public adjuster bond holds public adjusters financially liable for following state regulations. The Oklahoma Insurance Department (OID) requires all public adjusters to file a $25,000 surety bond for state licensing.
How Much Do Public Adjuster Bonds Cost in Oklahoma?
Oklahoma public adjuster bonds cost a flat rate of $250 annually.
You can also select a multi-year term at checkout to save 25%. Click below to buy your bond in minutes.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
The Oklahoma Insurance Department requires this bond for public insurance adjuster licensing. The OID also enforces a separate Oklahoma third party administrator bond requirement. If you work as an insurance adjuster in states other than Oklahoma, we also offer insurance adjuster bonds nationwide.
How Does an Oklahoma Public Adjuster Bond Work?
An Oklahoma public adjuster bond creates a three-party contract to financially guarantee that you’ll uphold state regulations.
| Bond Party | Description |
|---|---|
| Principal | The public adjuster filing the bond |
| Obligee | The Oklahoma Insurance Department requiring the bond |
| Surety | The issuing surety provider |
If you commit any fraudulent acts, harmed parties can file a claim on the bond. The surety will step in and pay valid claims up to the full $25,000 bond amount. However, you must ultimately refund the surety.
What Is the Oklahoma Public Adjuster Law?
Under Oklahoma Statutes Title 36 Chapter 2 Section 6214, all public adjusters in Oklahoma must file a $25,000 surety bond.
The Oklahoma Insurance Adjusters Licensing Act prohibits the following adjusting practices:
- Misusing or withholding client funds
- Misrepresenting insurance contracts, services or fees
- Making intentionally false insurance claims
- Forging signatures on documents
These acts are common reasons for bond claims.
How Do I Get a Public Adjuster Bond in Oklahoma?
With SuretyBonds.com, you can purchase your Oklahoma public adjuster bond online 24/7.
All you need to do is enter your name and address into our secure online portal. We’ll then email your official bond form directly to you.
You’ll need to file the bond with the OID along with your adjuster license application.
How Fast Can I Get My Bond?
This bond is available for instant purchase. Once we process your payment, you’ll receive your bond form in just minutes.
Can I Get Bonded With Bad Credit?
Yes, this bond doesn’t require a credit check! Everyone is eligible for the same flat rate.
How Do I Update My Bond Information?
To change any information on your bond form, contact your surety company.
If you purchased your bond from us, email [email protected] explaining the needed change.
What If I’m Already Licensed and Bonded in Another State?
Oklahoma offers license reciprocity for certain states, meaning you may not have to take the adjuster exam if your home state qualifies. However, you’ll still need an Oklahoma public adjuster bond to offer services in the state.
How to Get a Public Adjuster License in Oklahoma
The Oklahoma Insurance Department requires all applicants to meet the following requirements for a public insurance adjuster license:
- Be 18 years old and a U.S. citizen
- Pass the PSI public adjuster exam with a score of 70%
- File a $25,000 surety bond with the OID
- Complete the online application via NIPR
Once approved, you will receive a copy of your license via email to print.
How Do I Renew My License?
Oklahoma public insurance adjuster licenses expire every two years on the last day of your birth month.
- Residents must complete 24 credit hours of continuing education each year.
- Nonresidents only need to complete the required continuing education in their home state.
You can renew your license directly on NIPR. Note that expired licenses cannot be renewed.
