Virginia settlement agent bonds.
$2,000 flat.

Virginia's Consumer Real Estate Settlement Protection Act (CRESPA) requires every real estate settlement agent to maintain a $200,000 surety bond. Ours is $2,000 flat — the price you see is the checkout price, identical for every agent. A quick soft credit check may apply; the bond is issued when you pay.

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Required to register as a CRESPA settlement agent under Code of Virginia § 55.1-1004

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Fixed amount, fixed price — $200,000 bond, $2,000, no quote theater

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A quick soft credit check may apply — never a hard inquiry, no impact on your score

A-ratedA.M. Best carriersInstantissued the moment you pay1–3 yrterms available

Trusted by industry leaders

How it works

Three steps to registered.

Your CRESPA registration is waiting on this bond. Here is the entire process — no broker phone tag:

TODAY · ONLINE

Apply once, online

Business details, owner information, effective date. The only extra step is a one-time consent to a soft credit pull.

RIGHT AWAY

Approved

Most are approved as soon as you apply. The credit check is a soft pull that never affects your score. If it needs a second look, one to two business days at most.

WHEN YOU PAY

E-sign & register with the Bureau of Insurance

Pay online and receive the executed $200,000 bond, ready to file with your CRESPA settlement-agent registration. Wet-ink originals mailed whenever the state insists.

About this bond

What it is and who needs it.

What the settlement agent bond guarantees

Virginia's Consumer Real Estate Settlement Protection Act (CRESPA) governs who may handle residential real estate closings and conditions a settlement agent's registration on a $200,000 surety bond. The bond is a consumer-protection guarantee: it stands behind your proper handling of settlement and escrow funds.

It is a three-party arrangement: you (the principal), the surety carrier, and the Commonwealth (the obligee), with the parties to your closings as the protected beneficiaries. If a settlement agent mishandles closing funds, fails to record, or otherwise violates CRESPA, a harmed party can recover against the bond.

Settlement agents register with the State Corporation Commission's Bureau of Insurance, and the bond is one piece of the financial-responsibility package CRESPA requires (alongside errors-and-omissions and fidelity coverage). It is not insurance for you — if the surety pays a claim, you repay the surety.

Code of Virginia § 55.1-1004 (CRESPA)Under the Consumer Real Estate Settlement Protection Act (Code of Virginia § 55.1-1000 et seq.), a real estate settlement agent must maintain a $200,000 surety bond as part of its financial-responsibility requirements (§ 55.1-1004), along with errors-and-omissions and fidelity coverage. Settlement agents register with the State Corporation Commission's Bureau of Insurance. Verify your registration category — attorney, title, real estate, or financial-institution settlement agent — on your application.

You need this bond if you're

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Registering as a CRESPA settlement agent — title, real estate, attorney, or financial-institution agent

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Renewing your registration and your current bond is expiring or non-renewing

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A title or escrow company conducting residential closings in Virginia

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An attorney or broker acting as a settlement agent for the public

One application, issued instantly.

These are the actual underwriting fields, including a one-time consent to a soft credit pull. Submit once and your bond is issued when you pay.

Start the application →

FAQ

Common questions.

Do I pay the $200,000?No. You pay $2,000 — the flat premium for this bond. The $200,000 is the surety's maximum liability to the Commonwealth and harmed parties; it is not a deposit, and nobody holds your money.

Who requires this bond?Virginia's CRESPA (Code of Virginia § 55.1-1000 et seq.) requires it as a condition of registering as a real estate settlement agent. Settlement agents register with the State Corporation Commission's Bureau of Insurance.

Is the bond all I need to register?No — CRESPA also requires errors-and-omissions coverage and a fidelity bond (or employee-dishonesty coverage). The $200,000 surety bond is one piece of the financial-responsibility package. We issue the surety bond; your registration packet lists the rest.

Is there a credit check?A quick soft credit check may apply — never a hard inquiry, no impact on your score. It informs approval, not price. The $2,000 premium is fixed either way: credit can affect whether we approve the bond, never what it costs.

When does it renew?Terms run 1, 2, or 3 years — your choice at purchase. We send renewal notices 60 and 30 days out, with autopay available, and the bond must stay active for your CRESPA registration to stay valid.

Which A-rated carriers underwrite these bonds?Typically Arch Insurance Company (A.M. Best A+) or Nationwide Mutual Insurance Company (A.M. Best A). Which one writes your bond depends on the bond type and your state. The carrier's name and official signature are printed on the bond you receive.

How do I contact Light RFP about this bond?Email insurance@lightrfp.com. It reaches the bond team at Light RFP Risk Management Services LLC (NY DFS License # PC-1978982). Write to us about quotes, applications, bond forms or certificates. We will respond within 24 hours.

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Other Virginia bonds.

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