Michigan Surety Bond Types

The protection provided by a Michigan surety bond is determined by the bond type and how it functions. Depending on the specific language of the contract, bonds can offer legally-sanctioned protection for businesses, consumers, or government entities by providing financial security. Michigan surety bonds offer protection in many ways:

  • by protecting consumers from fraudulent or unethical business practices
  • by protecting companies that hire contractors to complete a particular project
  • by protecting the state or local government from a business that might break the law

These are just a few examples of the hundreds of ways surety bonds provide protection in Michigan. Although getting a surety bond in Michigan might seem complicated or confusing at first, a little research could go a long way in protecting your investments-and we’re here to help.

Surety bond protection in Michigan

If the principal that filed the bond breaks the contract then the obligee could make a claim on the bond. The surety company will then determine if the claim is valid and, if justified, will compensate the wronged obligee for damages in some way. The principal could ultimately be left paying retribution up to the bond’s full amount. In this way bonds help solidify contracts and prevent financial loss, unlike insurance policies which cover predictable financial losses. Consumers value working with bonded individuals and businesses because they know that their investments are backed by a financial guarantee.

Michigan surety bond costs

Rates and premiums for surety bonds in Michigan vary for a number of reasons, including the bond type and the principal’s financial history. Generally, though, a bond costs between 1 and 3 percent of its face value. So, if the desired bond amount is $10,000, an average principal with a good credit report would pay a $100 to $300 fee to get the bond. However, the surety company will charge more if the principal’s financial history has negative marks because it takes a greater risk in guaranteeing the work. A principal with a poor credit history will need to work with an agency that issues non-standard (or bad credit) bonds, such as Surety Bonds.com.

Getting bonded in Michigan

If you already know the specific Michigan surety bond you’re looking for, browse our library below to see if we currently have form on file. If you don’t see the one you need, contact one of our friendly surety bond specialists to help you.

If you’re still trying to find which surety bond will best fulfill your needs, many resources are available to help you. Typically both state and local government entities post their bonding requirements and regulations online. For instance, the state’s department of licensing website usually outlines which professions require a bond to be secured before a business license can be issued. Mortgage brokers, collection agents and contractors are just some professions in Michigan that must fulfill bonding requirements.

Your Michigan surety bond company

To learn about more bond types and how they work, browse our site; we offer a comprehensive survey of numerous surety bonds. And don’t forget: if you need any help along the way contact a friendly surety bond specialist.

After you know more about the bonding process, completing an online application can be done in just a few minutes. You can usually get a price quote back quickly as long as you are in good financial standing. Securing a bond for yourself or your business is an easy and beneficial investment that provides thorough protection, and we hope to help you along the way.

USAToday - New York Times- About.com - Insurance Journal

Can't find the bond you're looking for?

Then contact a surety specialist, and we will find it for you.

Bond Type Obligee Cost Apply Get Quote
Special License for Sale of Beer, Wine & Spirits for Consumption on the Premises Bond Liquor Control Commission
7150 Harris Dr.
Lansing, MI 48909
Not sure Apply Now Get Quote
Brooks Township, Michigan - Performance Bond Brooks Township
490 Quarterline
Newaygo, MI 49337
Apply Now Get Quote
City of Walker, Kent County, Michigan - To Accompany Applications for Permits, Bond City of Walker, Kent County
4243 Remembrance Rd. N.W.
Walker, MI 49534
Apply Now Get Quote
Collection Agency Bond Department of Labor and Economic Growth
P.O. Box 30254
Lansing, MI 48909
Apply Now Get Quote
Debt Management Licensee Bond Office of Financial and Insurance Regulation
P.O. Box 30220
Lansing, MI 48909
Apply Now Get Quote
Depository Financial Institution - Sales Finance Company Bond Office of Financial and Insurance Regulation
P.O. Box 30220
Lansing, MI 48909
Apply Now Get Quote
Driver Education Provider Bond Department of State
Department of State
Lansing , MI 48918
Apply Now Get Quote
Excess Weight and Other Highway and Street Permits Department of Transportation
425 W. Ottowa St.
Lansing , MI 48909
Apply Now Get Quote
First Mortgage Broker, Lender, and/or Servicer Bond Office of Financial and Insurance Regulation
P.O. Box 30220
Lansing, MI 48909
Apply Now Get Quote
Flint, Michigan - Sewer and Drain Layer Bond City of Flint
1101 S. Saginaw St.
Flint , MI 48502
Apply Now Get Quote
Grain Dealers for Warehouse Receipted Farm Produce Bond Department of Agriculture
P.O. Box 30017
Lansing, MI 48909
Apply Now Get Quote
Hazardous Waste Management Bond Department of Environmental Quality
P.O. Box 30256
Lansing, MI 48909
Apply Now Get Quote
Insurance Premium Finance Company Corporate Bond Office of Financial and Insurance Regulation
P.O. Box 30220
Lansing, MI 48909
Apply Now Get Quote
Manufactured Home Certificate of Title Bond Department of the State
Michigan Department of State
Lansing , MI 48918
Apply Now Get Quote
Monroe County, Michigan - Sewer Connection Monroe County
1005 S. Raisinville
Monroe , MI 48161
Apply Now Get Quote
Motor Fuel, Motor Carrier or Tobacco Products License or Motor Fuel Eligible Purchaser Bond Department of Treasury
P.O. Box 30199
Lansing , MI 48909
Apply Now Get Quote
Non-Depository Sales Finance Company and/or Out-of-State Depository Institutions Bond Office of Financial and Insurance Regulation
P.O. Box 30220
Lansing, MI 48909
Apply Now Get Quote
Non-Retail License Bond Liquor Control Commission
7150 Harris Dr.
Lansing, MI 48909
Apply Now Get Quote
Notary Bond Department of the State
Department of State
Lansing , MI 48918
Apply Now Get Quote
Notary Bond with Errors and Omissions Secretary of State
Department of State
Lansing , MI 48918
Apply Now Get Quote
Oakland County, Michigan - Construction Bond Oakland County, Board of County Road Commissioners
2420 Pontiac Lake Rd.
Waterford , MI 48328
Apply Now Get Quote
Oakland County, Michigan - O&M Bond Oakland County, Water Resources Commissioner
1 Public Works Dr.
Waterford , MI 48328
$5,000 Apply Now Get Quote
Personnel Agencies Bond Department of Labor and Economic Growth
P.O. Box 30254
Lansing, MI 48909
$10,000 Apply Now Get Quote
Professional Investigator Agency Bond Department of Energy, Labor and Economic Growth
P.O. Box 30018
Lansing , MI 48909
Apply Now Get Quote
Registered Scrap Tire Collection Site Performance Bond Department of Environmental Quality
P.O. Box 30256
Lansing, MI 48909
Apply Now Get Quote
Royal Oak, Michigan - Drain Layer Bond Royal Oak
211 S. Williams St.
Royal Oak , MI 48067
Apply Now Get Quote
Royal Oak, Michigan - Licensed Sidewalk Builder City of Royal Oak
211 S. Williams St.
Royal Oak , MI 48967
Apply Now Get Quote
Second Mortgage Broker, Lender, and/or Servicer Bond Office of Financial and Insurance Regulation
P.O. Box 30220
Lansing, MI 48909
Apply Now Get Quote
Solid Waste Disposal Area - Landfill Bond Department of Environmental Quality
P.O. Box 30256
Lansing, MI 48909
Apply Now Get Quote
Uniform Manufactured Housing Retailer's Bond Department of Labor and Economic Growth
P.O. Box 30254
Lansing, MI 48909
$10,000 Apply Now Get Quote
Uniform Professional Fund Raiser Bond Department of Attorney General
P.O. Box 30214
Lansing, MI 48909
$10,000 Apply Now Get Quote
Uniform Public Safety Professional Fund Raiser Bond
(Initial)
Department of Attorney General
P.O. Box 30214
Lansing, MI 48909
$25,000 Apply Now Get Quote
Uniform Public Safety Professional Fund Raiser Bond
(Renewal)
Department of Attorney General
P.O. Box 30214
Lansing, MI 48909
Apply Now Get Quote
Uniform Vehicle Dealer Bond Department of State
Department of State
Lansing, MI 48909
$10,000 Apply Now Get Quote
Vehicle Title Bond Department of the State
Michigan Department of State
Lansing , MI 48918
Apply Now Get Quote
Wayne County, Michigan - Soil Erosion and Sedimentation Control Permit Bond Wayne County, Department of Environment
3600 Commerce Ct.
Wayne, MI 48184
Apply Now Get Quote
Workers' Compensation Continuous Bond Department of Labor & Economic Growth
P.O. Box 30254
Lansing, MI 48909
Apply Now Get Quote