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State of Maryland - Insurance Broker's Bond

This bond is required for professionals who help people and businesses find and purchase insurance policies in Maryland. The state requires these insurance brokers to have a $10,000 bond as a form of financial protection for their clients. If a broker acts dishonestly, makes serious mistakes, or violates state insuran…

Bond amount$10,000
State or jurisdictionMaryland
ObligeeState of Maryland

Essential point: Pin down whether this is your bond, then start the application. Ava can confirm the right state and license type if you are not sure.

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2323 yearsHelping clients and agents
Overview

What it is.

This bond is required for professionals who help people and businesses find and purchase insurance policies in Maryland. The state requires these insurance brokers to have a $10,000 bond as a form of financial protection for their clients. If a broker acts dishonestly, makes serious mistakes, or violates state insuran…

Who usually needs it

Resident surplus lines brokers in Maryland who are licensed to work with surplus line insurers must obtain this $10,000 surety bond. The bond is required as part of obtaining a Surplus Lines Broker Certificate of Qualification and serves as a financial guarantee that brokers will comply with state laws and protect clients from financial loss. Nonresident su…

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 depending on the specific bond type, state program, or underwriting requirements.

Your quote determines the actual premium.

Typical timeframe

Issuance timeframe varies by bond type and underwriting

Timing can change when underwriting needs more information.
Application details

How it works.

  1. Start the application

    Confirm the bond and provide applicant and business details.

  2. Review the quote

    See the terms and premium before deciding to continue.

  3. Pay and sign

    Complete the required payment and signatures.

  4. Receive the bond

    Get the issued bond and filing or delivery instructions.

Platinum Bonds

Experience behind every bond.

Helpful guidance, a real agency team, and a clear path from research to application.

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Next step

Ready to move forward?

Start the secure application with this bond already selected, or ask Ava a question before you begin.

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