New Jersey managing general agent bonds.
From $1,000.
New Jersey requires a managing general agent to keep a surety bond protecting the insurer it contracts with: the greater of $100,000 or 10 percent, up to $500,000, of that insurer’s prior-year direct premium attributable to the agent (N.J.A.C. 11:17-6.3(c)). The executed bond goes to that insurer. Your price starts from $1,000.
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How much does a New Jersey managing general agent bond cost?
1% of the bond amount, from $1,000 at the $100,000 minimum. Enter your amount in the calculator for the exact price.
Apply to filed bond.
MGA bonds run through a quick underwriting review rather than instant issue. Here is the whole thing:
Apply online
Your details, the MGA appointment, and the bond amount — plus a one-time consent to a soft credit pull. That is the application.
Reviewed & approved
An underwriter reviews the MGA appointment and amount. The soft credit pull informs approval, never the price, and never affects your score.
E-sign & send to the insurer
Pay online and receive the executed bond, ready to hand to the insurer you contract with. Wet-ink originals mailed whenever the insurer insists.
What it is and who needs it.
What the MGA bond actually guarantees
A managing general agent handles binding authority, underwriting, and sometimes claims on behalf of an insurer. New Jersey regulates MGAs under N.J.S.A. 17:22C-1 et seq. and conditions the relationship on a surety bond for the protection of the insurer the MGA contracts with.
It is a three-party arrangement: you (the principal), the surety carrier, and the insurer that contracts with you (the protected party). If an MGA mishandles funds, misrepresents contracts, or violates New Jersey insurance law, the harmed insurer can recover against the bond — and if the surety pays, you repay the surety.
The amount comes from the rule: the greater of $100,000 or 10 percent, up to $500,000, of the direct premium the insurer wrote in the previous calendar year that is attributable to you, adjusted on or before April 1 each year (N.J.A.C. 11:17-6.3(c)). Your bond is written at the amount you enter, so enter the figure the insurer you contract with requires and confirm it with that insurer before you buy. Your price — from $1,000 — is set from that amount and a soft credit pull that never affects your score.
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
E-sign & send to the insurer. Pay online and receive the executed bond, ready to hand to the insurer you contract with. Wet-ink originals mailed whenever the insurer 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.
One soft credit pull, never a hard inquiry, and it never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, then a quick review.
These are the actual underwriting fields, including a one-time consent to a soft credit pull. Submit once and the bond is typically issued within 1–2 business days.
Start the application →Common questions.
Other New Jersey bonds.
Price and requirements checked on the carrier’s application, . Page updated .
File your MGA bond this week.
From $1,000. Enter your amount and hand your insurer the executed bond within 1–2 business days.