How much does a certificate of title bond cost in Illinois?
Illinois certificate of title bonds bonds up to $25,000 are issued online instantly and cost $20 per $1,000 of coverage. In fact, all title bonds up to $5,000 cost just $100. If you need more than $25,000 of coverage, your request will be submitted for underwriting consideration.
The Illinois Secretary of State determines the bond amount needed is the total of the vehicle’s appraisal amount multiplied by 1.5. You must know the appraisal value of your vehicle before purchasing your title bond.
Why do I need an Illinois certificate of title bond?
The state of Illinois requires any individual who purchases a car without the original title to post a certificate of title surety bond. The bond acts as a legal obligation to repay any and all monetary losses incurred if the car turns out to be stolen or if the title turns out to be fraudulent or otherwise invalid. In the event of theft or forgery, this surety bond will ensure that the rightful owner of the car is compensated for the full value of the vehicle.
SuretyBonds.com can get you the bond you need quickly and easily. Give us a call at 1 (800) 308-4358, or submit a bond request to get your Illinois certificate of title surety bond today!
What’s the fine print?
Illinois certificate of title surety bonds remain in effect for a 3-year bond term.
Applicants must know the make, model, body type and vehicle identification number to get bonded. A notary public’s signature is also required.