Washington Insurance Producer Bond

1. Apply For Your Bond

Setting up your insurance producer bond in Washington is easy to do with our three-step process. To begin, spend a few minutes completing the online application.

2. Get Your Bond Quote 

Once you submit your application, it will be reviewed immediately. Often, our customers get a bond quote within minutes. For complex applications, we may need additional time to review. In these situations, we will deliver a bond quote within 48 hours. 

When our new customer, Brian, learned that he needed an insurance broker bond, he applied with us online. He appreciated how short and easy the application was and received his bond quote without delay. After finalizing his bond purchase, he met the state’s guidelines and began selling insurance. 

3. Buy Your Bond

After reviewing your bond quote, only one step remains. Use our online portal to make the bond premium payment. We will send your bond to you via email without delay. If requested, we can also mail the bond. 

Our friendly bond experts are thrilled to assist you with your bond purchase. For assistance, contact us online or by phone at (877) 514-5146.

Every resident insurance producer licensed under RCW Chapter 48.17, who places insurance directly or indirectly with an insurer without being appointed as its agent, must maintain an active bond. This bond must be in favor of the people of Washington or a named insured, ensuring coverage for the state’s residents.

The bond amount equals 5% of the premium amounts for new policies issued in the last calendar year. The minimum bond amount is $2,500, and the maximum amount is $100,000.

This is a continuous bond. It remains in full force until it is canceled. The surety company must provide the principal with a 30-day written notice prior to the cancellation date. 

The bond must be maintained to continue functioning as an insurance producer in Washington, so the bond premium must be paid annually. To assist you with the maintenance of your surety bond, we will get in touch with you with updated payment instructions prior to the due date each year.

The Washington Office of the Insurance Commissioner is the responsible authority for insurance producer licensing. The producer license is required to apply for a life settlement broker license or a surplus lines broker license. The following items are required to apply for an insurance producer license:
 

• Passing score on the licensing exam
• Application 
• Licensing fee
• Fingerprints
• Surety bond

For additional information about the requirements for insurance producer licensing in Washington, contact:

Office of the Insurance Commissioner
5000 Capitol Blvd. SE
Tumwater, WA 98501
Phone: (800) 562-6900