South Carolina insurance broker bonds.
$100 flat.
South Carolina requires every resident insurance broker to file a fixed $10,000 bond with the Department of Insurance before licensure — ours is $100 flat, set by our carrier's rate book for this bond. The bond issues the moment you pay — no credit check.
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How much does a South Carolina insurance broker bond cost?
$100 at the $10,000 amount, the same for every applicant.
Three steps. One sitting.
License bonds are the simplest thing in surety. Here's the entire process:
Apply online
Business details, your NPN, and an effective date. That is the application. No credit check.
Pay & e-sign
License bonds like this are among the thousands of bond types that issue right after purchase.
File with the Department of Insurance
Your executed bond and power of attorney arrive by email, ready to file with your broker license application or renewal. Wet-ink original mailed on request.
What it is and who needs it.
What the bond actually guarantees
An insurance broker bond is a policyholder-protection guarantee. A South Carolina broker places coverage for clients who can't get it from a licensed insurer in the ordinary market — the state wants a financial backstop that you'll handle their business and their premiums honestly.
It's a three-party arrangement: you (the principal), the surety carrier, and the State of South Carolina (the obligee), with your insureds as the protected parties. The bond is conditioned to pay a person insured or seeking insurance through the broker who sustains loss from the broker's violation of insurance law.
The bond must stay active for the life of your license. The statute also lets a broker post qualifying certificates of deposit in lieu of the bond — but a $100 surety bond is far cheaper than tying up $10,000 in cash. We track the term and notify you 60 and 30 days out.
You need this bond if you're
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 $10,000 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; a longer term is the same price per year, chosen at checkout.
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. Your executed bond and power of attorney arrive by email, ready to file with your broker license application or renewal. Wet-ink original mailed on request.
What sets the price
The premium is fixed at $100 at the $10,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
No credit check.
One application, issued instantly.
These are the actual issuing fields. No credit check.
Start the application →Common questions.
Other South Carolina bonds.
The same bond in nearby states.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
Finish your license checklist today.
$100 flat, no credit check, bond often issued in the same sitting. Free until issued.