Probate Bond Terms & Legal Disclaimer
Summary of Coverage
A surety bond protects the estate and its beneficiaries — it is not insurance that protects you. If the surety pays a claim on the bond, you are required to repay the surety under the indemnity agreement.
The bond you will receive as part of the package is placed by Next Wave Insurance Services, LLC (a DE entity; CA License #0F00755), the broker of record and a wholly owned subsidiary of Vertical Insure, Inc. Vertical Insure, Inc. is a licensed insurance producer in the states where it transacts insurance, doing business as Vertical Insurance Services in New York and as Vertical Software Insurance Services in California. We act solely as the broker, not the underwriter. All bond documents will be sent to you electronically after purchase.
Bond Documents and Court Filing Requirements
Bond document requirements vary by jurisdiction and court, so we do not provide a standard bond form or template prior to purchase. After your bond is purchased, we will provide the completed bond document, Indemnity Agreement, completed application and receipt of purchase.
For filing with the court, work with your attorney — the court usually requires the completed bond document and POA.
Contact support@vicoverage.com and provide the reason for rejection. If the court has provided a specific form or additional requirements, please include those as well. In many cases, only a minor revision is needed, and we can issue updated documents.
Contact support@vicoverage.com so we can make the necessary correction.
For a material change — such as a change to the bond amount — we require the court order authorizing the change before we can update coverage.
Some courts require a wet signature rather than an electronic or printed signature. In this case, complete the bond application and receive your bond documents as usual, then contact support@vicoverage.com with the court’s requirements and your attorney’s mailing address, and we will send the wet-signed version.
How to Close Your Bond
The court requires your bond to stay in force until your case is closed. Once the court issues its closure order, closing the bond takes one step:
Submit the court’s closure order to support@vicoverage.com.
What happens next
- ✓We close your bond effective the date on the court’s order and stop all future charges.
- ✓The first year of premium is fully earned and non-refundable. After the first year, if you’ve already paid a renewal premium, you’ll receive a prorated refund based on the closure date listed in the court’s order — even if the renewal payment has already been processed.
- ✓You’ll receive email confirmation and a final receipt for your records.
Questions? Contact support@vicoverage.com.
Billing
When purchasing a bond you are agreeing to our Billing Disclosure.
The court requires this bond to remain in force until your case closes. We will bill annually the payment method on file to ensure coverage never lapses. If your case has closed, follow the bond closure steps above.
If you have any billing questions or would like to change your payment method, contact support@vicoverage.com.
Tip: The premium can be reimbursed from the estate as an administrative expense. Save your receipt for the inventory.
Insurance Fraud Warning
Any person who knowingly and with intent to defraud any insurance company or other person, files an application or a statement of claim containing any false information, or conceals for the purpose of misleading information concerning any material fact thereto, commits a fraudulent insurance act, which is a crime in certain jurisdictions.
Important state specific information
Search for your state below to read the notice that applies to your application.
Use of Sensitive Information
Probate bonds are underwritten in part on personal credit. To issue your bond, we collect your Social Security number and date of birth solely to complete a soft credit inquiry.
- ✓This information is used only to complete the credit check required to underwrite your bond.
- ✓It is transmitted over an encrypted connection and is not stored on our systems.
- ✓It is never sold, and never used for marketing.
- ✓A soft inquiry does not affect your credit score.
Questions about how your information is handled? Contact support@vicoverage.com.
Privacy Policy
Our Privacy Policy explains what personal information Vertical Insure collects when you request a quote or purchase coverage, how we use it to place and service your bond, when we share it with carriers and service providers, and the choices and rights you have over your information.
Read the Vertical Insure Privacy Policy