An Insurance Broker's Bond is required for professionals who help people and businesses find and purchase insurance policies in Washington State. This bond protects consumers if the broker acts dishonestly, mishandles client money, or fails to follow state insurance laws. If a broker causes financial harm through misc…
Overview
What it is.
An Insurance Broker's Bond is required for professionals who help people and businesses find and purchase insurance policies in Washington State. This bond protects consumers if the broker acts dishonestly, mishandles client money, or fails to follow state insurance laws. If a broker causes financial harm through misc…
Who usually needs it
Resident insurance producers in Washington who act as brokers and place insurance directly or indirectly with insurers where they are not appointed as an agent must obtain this bond. The bond ensures compliance with state insurance laws, proper handling of premiums and client funds, and timely payment of taxes and fees.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateWABond amountVaries by license type or projectObligeeState of WashingtonBond classLicense BondCategoryOtherBondInsurance Broker's BondPlain descriptionAn Insurance Broker's Bond is required for professionals who help people and businesses find and purchase insurance policies in Washington State. This bond protects consumers if the broker acts dishonestly, mishandles c…Who needs this bondResident insurance producers in Washington who act as brokers and place insurance directly or indirectly with insurers where they are not appointed as an agent must obtain this bond. The bond ensures compliance with sta…
