How much does a private investigator bond cost in Colorado?
Private investigators wishing to obtain a license in Colorado must first post a surety bond in the amount of $10,000 with the Office of Private Investigator Licensure— a division of the Colorado Department of Regulatory Agencies. Those that opt to purchase the bond for a 1-year term should expect to pay just $100, as there is no credit check needed to write this bond. A 3-year term is also available at a slightly discounted rate of $250 without a credit check. Save time and money when you choose SuretyBonds.com!
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Why do I need this bond?
Colorado private investigators must submit a surety bond in order to be in full compliance with regulations set forth by Article 58.5 of Title Twelve of the Colorado revised statutes and 4 Code of Colorado Regulations 750-1. The bond is required so that any person who suffers a loss or damages due to acts or omissions on the part of the private investigator may file a claim against the bond. In the event of a successful claim, the surety company that wrote the bond will pay out up to the full bond amount. Once the claim has been settled, the surety will look to the principal who holds the bond for reimbursement of any money paid in the claim.
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What’s the fine print?
The bond must remain in effect as long as the private investigator holds their license— though the surety may choose to cancel the bond by providing written notice to the principal at least thirty days in advance. It is also important to keep in mind that private investigator licenses expire on May 31st of each year and must be renewed. However, the bond expiration often times does not coincide with that date, so license holders will want to be aware of their bond expiration date in order to ensure that there is no lapse in coverage.
How to become a private investigator in Colorado
The Office of Private Investigator Licensure website provides a list of requirements, including posting a surety bond, which the applicant must meet in order to be considered for licensure.
Required Fee: A $330 fee must be paid via credit card or electronic check before the application is complete
Age Attestation: All private investigators in the state of Colorado must provide proof that they are at least 21 years of age
Background Check: When applying to become a licensed private investigator in Colorado, fingerprints must be submitted to the Colorado Bureau of Investigation for a thorough background check
All applicants must also pass the Private Investigator Jurisprudence Examination to be eligible for licensure
A full list of requirements to become a licensed private investigator in Colorado may be found here.
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