This bond is required for professionals who provide advice and consulting services about insurance products in Maine. If you help people understand or choose insurance policies as a paid consultant, you need this $20,000 bond. It protects consumers and the State of Maine from financial harm if you act dishonestly, mak…
Overview
What it is.
This bond is required for professionals who provide advice and consulting services about insurance products in Maine. If you help people understand or choose insurance policies as a paid consultant, you need this $20,000 bond. It protects consumers and the State of Maine from financial harm if you act dishonestly, mak…
Who usually needs it
Licensed insurance consultants in Maine who are applying for or holding an insurance consultant license under Maine Revised Statutes Title 24-A, Chapter 16, Subchapter 5 must obtain this bond. This applies to professionals providing insurance consulting services, distinct from insurance agents, brokers, or other roles.
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.
StateMEBond amount$20,000ObligeeState of MaineBond classLicense BondCategoryOtherBondInsurance ConsultantPlain descriptionThis bond is required for professionals who provide advice and consulting services about insurance products in Maine. If you help people understand or choose insurance policies as a paid consultant, you need this $20,00…Who needs this bondLicensed insurance consultants in Maine who are applying for or holding an insurance consultant license under Maine Revised Statutes Title 24-A, Chapter 16, Subchapter 5 must obtain this bond. This applies to profession…
