Maine insurance consultant bonds.
From $100.
Every applicant for a Maine insurance consultant’s license must file and maintain a bond under 24-A M.R.S. §1464, providing aggregate liability of $20,000. The premium is 1% of the bond amount, $100 minimum — enter the amount your license requires and your exact price appears at application.
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How much does a Maine insurance consultant bond cost?
1% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No underwriting queue for the standard consultant bond — enter your amount, pay, and file with the Bureau. Here is the whole thing:
Apply online
Your business details, the bond amount your license requires, and the effective date — that is the application.
Issued on the spot
Most applicants are approved and issued instantly.
File with the Bureau of Insurance
Submit the executed bond with your consultant license application or renewal. Wet-ink originals mailed whenever the Bureau insists.
What it is and who needs it.
What the consultant bond actually guarantees
A Maine insurance consultant is licensed to advise clients — for a fee, separate from selling a policy — on the benefits, terms, or coverage of their insurance. Because consultants are paid for advice that clients rely on, the Bureau of Insurance conditions the license on a bond.
Under 24-A M.R.S. §1464, every applicant must file with the license application, and maintain while licensed, a bond from an authorized surety continuous in form and providing aggregate liability of $20,000. It stands behind the consultant’s faithful, lawful conduct for the protection of clients and the public.
It is a three-party guarantee, not insurance for you: if a consultant violates the insurance code and a client is harmed, they can recover against the bond — and if the surety pays, you repay the surety. The bond must stay continuous for the life of the license; we track it and notify you 60 and 30 days out.
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 Bureau of Insurance. Submit the executed bond with your consultant license application or renewal. Wet-ink originals mailed whenever the Bureau 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 the bond amount your license requires — the executed bond is generated instantly, ready to file with the Bureau.
Start the application →Common questions.
Other Maine bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Consultant bond, issued today.
Pricing from $100. Enter the amount your license requires and file the same day.