If your dealership is planning to sell insurance products with an insurance broker on staff as part of the team, he or she needs to be bonded before getting or renewing his or her license, as required by the state department of insurance.
An Insurance Broker Bond protects individuals who may be harmed by the actions of a licensed insurance broker. Consumers who are negatively affected by a broker can file a bond claim and recoup damages. The amount of bond varies per state as well as what the bond will cover.
The staff at Dealer Protection Group (DPG) can go over the details of your specific bond requirements, and provide you with a competitively priced bond written by financially stable insurers.
Before insurance brokers purchase a bond, they must submit themselves to a credit check, have their application approved, and go through other screening processes. We will help you with this process.
Be sure to safeguard your customers when offering insurance products.
Contact DPG about obtaining an Insurance Broker Bond. Give us a call at 949.208.8550.