A South Carolina Insurance Broker Bond is a $10,000 guarantee required for professionals who sell insurance policies on behalf of multiple insurance companies in South Carolina. This bond protects consumers from dishonest or careless business practices, such as mishandling premiums or providing false information. If a…
Overview
What it is.
A South Carolina Insurance Broker Bond is a $10,000 guarantee required for professionals who sell insurance policies on behalf of multiple insurance companies in South Carolina. This bond protects consumers from dishonest or careless business practices, such as mishandling premiums or providing false information. If a…
Who usually needs it
Licensed resident insurance brokers in South Carolina who are property and casualty insurance agents authorized to sell, solicit, and negotiate insurance on behalf of consumers, take applications, advertise surplus lines capabilities, and obtain surplus lines coverage. This $10,000 bond is mandated under South Carolina Code Annotated Section 38-45-20 as a p…
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.
StateSCBond amount$10,000ObligeeState of South CarolinaBond classLicense BondCategoryInsuranceBondSouth Carolina Insurance Broker BondJurisdictionStatePlain descriptionA South Carolina Insurance Broker Bond is a $10,000 guarantee required for professionals who sell insurance policies on behalf of multiple insurance companies in South Carolina. This bond protects consumers from dishone…Who needs this bondLicensed resident insurance brokers in South Carolina who are property and casualty insurance agents authorized to sell, solicit, and negotiate insurance on behalf of consumers, take applications, advertise surplus line…
