Illinois insurance producer bonds.
From $100.
When an Illinois insurance producer or business entity handles client premiums and must post a fiduciary bond, the amount is $2,500 or 5% of the premiums you brokered last year, whichever is greater, capped at $50,000. Pricing is 1% of the bond amount, $100 minimum.
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How much does an Illinois insurance producer bond cost?
1% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
Enter your amount, pay, and file. Here is the whole thing:
Apply online
Your business details, the bond amount your premiums require, and the effective date — that is the application.
Issued on the spot
Most applications approve instantly — the executed bond is generated as soon as you pay.
File with the Department of Insurance
Submit the executed bond where the Department of Insurance directs for your producer or business entity license. Wet-ink originals mailed whenever the state insists.
What it is and who needs it.
What the producer bond actually covers
Illinois licenses insurance producers under the Insurance Code (215 ILCS 5). When a producer or business entity holds client premium money in a fiduciary capacity — including surplus line producers — Section 500-130 conditions the license on a continuous bond standing behind those funds.
The bond is conditioned on full accounting and due payment of premium funds that come into the producer's hands. If a producer collects a premium and fails to remit it to the company or person entitled to it, the harmed party can recover against the bond.
The amount is $2,500 or 5% of the premiums you brokered in the prior calendar year, whichever is greater, capped at $50,000. A business entity can satisfy the requirement with a bond in the entity's name. Enter your figure — the premium is 1% of that amount, $100 minimum.
You need this bond if you are
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File with the Department of Insurance. Submit the executed bond where the Department of Insurance directs for your producer or business entity license. Wet-ink originals mailed whenever the state insists.
What sets the price
The premium is 1% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $100,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued on the spot.
Submit the application with your required bond amount — the executed producer bond is generated instantly, ready to file.
Start the application →Common questions.
Other Illinois bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Producer bond, issued today.
Pricing from $100. Enter your required amount and file the same day.