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Done for you in 5 minutes.
Receive a professionally structured buyer's affidavit tailored to your specific state, broker, or policy verification requirements. You will walk away with a ready-to-customize draft to satisfy your insurer's filing needs.
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When you are securing specialized insurance coverage—especially through surplus lines or non-admitted carriers—state regulators require proof that you couldn't find standard coverage elsewhere. This is where an Insurance Buyer's Affidavit comes in. It is a formal, sworn statement confirming that you diligently searched the standard market and are knowingly purchasing a surplus lines policy. You typically need this document to satisfy state insurance division filings, finalize your policy binding, or protect your broker from regulatory compliance issues. A high-quality draft does more than check a legal box; it uses the exact statutory language required by your specific state department of insurance while clearly detailing your unsuccessful attempts to secure admitted coverage. By having a professionally structured draft ready, you protect your coverage from potential rescission, keep your onboarding process moving swiftly, and ensure your broker can file the necessary paperwork without administrative delays or costly compliance errors.
State insurance departments require a Buyer's Affidavit to verify that you did not bypass local, regulated insurers who pay into state guaranty funds. This document legally proves you made a diligent effort to secure standard coverage and understand the risks of using a non-admitted carrier.
Most states require proof of at least three distinct declinations from admitted insurance carriers before you can legally buy surplus lines coverage. You must list the specific dates and names of these carriers to satisfy state regulators.
Yes, the vast majority of state insurance divisions require a buyer's affidavit to be signed under oath and witnessed by a certified notary public. Submitting an unnotarized affidavit will delay your policy from being legally bound.
No, the buyer's affidavit must be signed directly by the named insured or an authorized corporate officer of the buying entity. While the broker files the document, they cannot legally swear to your diligent search and understanding on your behalf.
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