Quick Answer An ERISA bond is a federal fidelity bond required under the Employee Retirement Income Security Act for anyone who handles funds or property of an employee benefit plan, such as a 401(k) or pension. Coverage must equal at least 10% of the plan assets handled, with a $1,000 minimum and a $500,000 maximum ($1,000,000 if the plan holds employer securities). It protects the plan — not the person bonded — from theft or dishonesty. ERISA bonds are one of the most misunderstood requirements in employee ...Read More

Quick Answer A mortgage broker bond is a surety bond required by state banking or financial regulators (through the NMLS) to license a mortgage broker, lender, or loan originator. It protects borrowers and the state from fraud and regulatory violations. Bond amounts range from $10,000 to $200,000+ depending on the state and loan volume, and premiums typically run 1–3% for good credit. It's mandatory to obtain and maintain an NMLS-registered mortgage license. Mortgage broker bonding runs through the Nationwide M...Read More

Quick Answer A public adjuster bond is a surety bond required to obtain a public insurance adjuster license in most states. It protects clients and insurers from fraud or misconduct by the adjuster. Bond amounts commonly range from $5,000 to $50,000 depending on the state (Iowa requires $50,000, for example), and premiums typically run 0.5–3% for good credit. The bond is required before the state issues the adjuster license. Public adjusters represent policyholders in insurance claims — a role with direct acc...Read More

Quick Answer A process server bond is a surety bond required to register or license as a process server in certain states, including California, Illinois, Oklahoma, Nevada, and Arizona. It protects the public from improper or fraudulent service of legal documents. Bond amounts typically range from $2,000 to $15,000, and premiums are usually $50–$150 because the risk is low. Not every state requires one — requirements are set locally. Process server bonding is one of the more fragmented bond requirements in th...Read More

Quick Answer A freight broker bond — officially the BMC-84 — is a $75,000 surety bond the FMCSA requires of all licensed freight brokers and freight forwarders. It guarantees that brokers will pay carriers and shippers as agreed. Premiums run roughly 1–10% of the $75,000 ($560–$7,500/year) depending on credit. The bond is mandatory to obtain and keep FMCSA broker authority. If you're getting your freight broker authority from the FMCSA, the BMC-84 bond is non-negotiable — you can't activate your authori...Read More

Quick Answer A contractor license bond is a surety bond required to obtain or maintain a contractor license in most states. It guarantees the contractor will follow state licensing laws and protects consumers and the state from violations. Bond amounts range from $5,000 to $25,000 for most license bonds (California requires $25,000), and premiums typically run 0.5–3% for good credit or up to 10% for bad credit. It is separate from project-specific bid, performance, and payment bonds. A contractor license bond i...Read More

Quick Answer An auto dealer bond — also called a motor vehicle dealer bond — is a surety bond required to obtain a car dealer license in nearly every state. It protects customers and the state from fraud, unpaid taxes, and title issues. Bond amounts range from $10,000 to $100,000 depending on the state, and premiums typically run 0.5–3% of the bond amount for good credit, or up to 10% for bad credit. Most states require it before issuing or renewing a dealer license. If you're getting licensed to sell vehic...Read More

Quick Answer A notary bond is a surety bond that most states require notaries public to obtain before commissioning. It protects the public — not the notary — from financial harm caused by a notary's mistakes or misconduct. Bond amounts range from $500 to $15,000 depending on the state, and premiums are typically $50 or less for the full commission term. A notary bond is not the same as Errors & Omissions (E&O) insurance, which protects the notary. Most new notaries are surprised to learn the bond the...Read More

Quick Answer A janitorial bond is a type of fidelity bond that protects a cleaning business's clients from theft committed by cleaning employees while on the client's property. Premiums typically run $50–$500 per year for $5,000 to $100,000 in coverage. Despite the name, it's technically a business service bond — not a true surety bond — and most states don't legally require it, though commercial clients almost always do. If you run a cleaning business and a commercial client has asked whether you're "bonde...Read More