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Surplus Lines Broker's Bond Form - Resident

This bond is required for insurance brokers in South Dakota who sell specialized insurance policies that regular insurance companies don't offer (called "surplus lines"). The $2,000 bond acts as a financial guarantee to the State of South Dakota that the broker will follow all state laws and handle client money proper…

Bond amount$2,000
State or jurisdictionSouth Dakota
ObligeeState of South Dakota

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 insurance brokers in South Dakota who sell specialized insurance policies that regular insurance companies don't offer (called "surplus lines"). The $2,000 bond acts as a financial guarantee to the State of South Dakota that the broker will follow all state laws and handle client money proper…

Who usually needs it

Resident surplus lines brokers in South Dakota who are already licensed as insurance producers with active Property and Casualty lines of authority must obtain this $2,000 bond when applying for a Surplus Lines Broker license. The bond must be obtained within 30 days of receiving the surplus lines broker license and guarantees compliance with South Dakota C…

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.

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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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