An insurance broker surety bond guarantees that a broker will handle their clients’ money ethically and obey the law.Ī California insurance broker bond has a required coverage amount of $10,000. What is a surety bond? It’s a type of contract that uses a neutral third party as a financial guarantor to protect a business’s clients. Obtaining a California insurance broker surety bond isn’t difficult, but it shouldn’t be overlooked because it’s required for the state to grant your insurance broker license. Obtain your California insurance broker surety bond. Finally, before the CDI will process your application, you’ll need to complete one more task: obtaining a California insurance broker surety bond. You’ll need to provide your basic personal information, certification that you’ve completed the education requirements, and information about your work history and experience. The easiest way to accomplish this is through California’s FLASH online licensing application system. Next, you’ll need to complete and submit your California insurance broker license application. Submitting your fingerprints before you take the test can help the CDI process your application more quickly, so consider that option if speed is important to you. In either case, be prepared to pay a fee for the fingerprinting.
Submit your fingerprints ahead of time through a fingerprinting vendor approved by the California Department of Justice.Get fingerprinted at the testing site before you take the exam, or.You have two options for submitting your fingerprints: The state of California requires all people who hold an insurance broker license to have fingerprints on file with the CDI. Get fingerprinted and submit your fingerprints to the state. Once you’ve passed your CDI exam, you’ll be notified that you can proceed with the application process. Either way, you’ll need to pay the CDI’s license examination fee and achieve at least a 60 percent score on the exam. The CDI has also added the option to take the insurance exam remotely through a secure and proctored service. Check the CDI website to learn about testing sites near you. The California Department of Insurance (CDI) offers this exam both at its own CDI testing sites and at testing sites administered by the testing company PSI. You’ll also need to take and pass a California insurance broker exam in the insurance specialty of your choice. Pass the California insurance broker exam for your specialty. 20 hours of specialized education in your chosen insurance fieldĪspiring brokers who want to specialize in more than one field can take a 40-hour course, instead, that covers a combination of two fields.12 hours of education in ethics and California insurance codes.The state of California requires 32 hours of pre-licensing education, which breaks down into two parts: The first task once you’ve chosen your insurance field is to take and pass a California insurance broker pre-licensing course. Take a California insurance broker education course. It’s possible to specialize in more than one type of insurance by taking one of the combination courses available, which we’ll discuss in the next section. The most common California insurance broker license specialties are: Types of California Insurance Broker LicensesĪspiring California insurance brokers will first need to choose the type of insurance they want to specialize in, as each type requires a different license. Today, we’ll look at each of these key steps on the path to getting a California insurance broker license. That process includes taking a course, passing an exam, and obtaining a California insurance broker surety bond. So, for anyone looking for a profitable and challenging career in an industry that will always be necessary, becoming an insurance broker could be a great choice.Īnyone who wants to operate as an insurance broker in California will first need to get their California insurance broker license. The insurance industry protects homes, cars, health, families, and much more.
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