Tennessee Title Insurance Producer Bond Guide
Tennessee title insurance producers need to file a surety bond as part of the state’s licensing process. Learn more about these bonds with our complete guide.
Bond Overview
- Purpose: To ensure title insurance producers operate legally and ethically
- Who Needs It: All title insurance producers in Tennessee
- Regulating Body: The Tennessee Department of Commerce and Insurance
- Required Amount: $25,000
- Premium Rates: Starting at $250
What Are Tennessee Title Insurance Producer's Bonds?
A Tennessee title insurance producer’s bond ensures that producers:
- Operate legally and comply with state regulations
- File accurate reports and documentation
- Pay all applicable fees and taxes on time
These bonds protect the public from financial loss if title insurance producers break state laws.
How Much Do Title Insurance Producer's Bonds Cost?
Tennessee title insurance producer bonds start at just $125 for a one-year term. Prices may vary based on your credit score and financial status. Apply for your free bond quote below to get an exact rate.
SuretyBonds.com offers the lowest available rates available from our nationwide network of providers.
How Does a Tennessee Title Insurance Producer Bond Work?
By purchasing a title insurance producer’s bond, you enter a legally-binding contract between three parties:
- Principal: You, the title insurance producer purchasing the bond
- Obligee: The Tennessee Department of Commerce and Insurance requiring the bond
- Surety: The provider issuing the bond
If you, as the principal, violate the bond terms, harmed parties can file a bond claim.
For example, if you do not pay your taxes, the state can file a bond claim to collect those payments and interest. The surety will pay valid claims which you are then responsible for reimbursing.
How Do I Get a Title Insurance Producer's Bond?
SuretyBonds.com offers the fastest and easiest way to get a title insurance producer's bond in Tennessee.
Just complete these three quick steps:
- Submit an online request form
- Receive your free quote within one business day
- Check out online or over the phone
You’ll receive your official bond form via email. Be sure to file the bond documentation with the state as instructed.
Can I Get Bonded With Bad Credit?
Yes, you may be able to get a title insurance producer's bond even with bad credit. When you apply, we will explore our nationwide markets to find the best available rate for you. Apply now to get started!
How to Renew Your Title Insurance Producer's Bond
You must renew your title insurance producer’s bond before the current one-year term ends. These bonds are continuous until canceled, so all you need to do is pay your renewal invoice to maintain an active policy.
The surety can cancel the bond by providing 30-day’s written notice to the Tennessee Department of Commerce and Insurance.
How to Become a Licensed Insurance Producer in Tennessee
To become a licensed title insurance producer with the Tennessee Department of Commerce and Insurance, you must fulfill several requirements. Complete the following steps to apply:
- Complete an exam prep course (optional, but recommended)
- Pass the Tennessee title insurance licensing exam through Pearson VUE
- Apply for your license online via the NIPR website
- Purchase and file a $25,000 surety bond with the Commissioner within 30 days of licensing
Once everything is reviewed and approved, you are to operate as a licensed insurance producer in Tennessee!
