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How much does an automobile club bond cost in Mississippi?
The Mississippi Department of Insurance requires automobile clubs to post $15,000 surety bonds. These bonds are subject to underwriting consideration, so the amount you’ll pay depends on a review of your personal credit report. Apply for a free bond quote now!
Apply for a free bond quote today by submitting a bond request or calling 1 (800) 308-4358.
Why do I need this bond?
Automobile club bonds in Mississippi ensure that principals (automobile clubs) faithfully observe the provisions of 83-11-201 through 83-11-347 of the Mississippi Code Annotated. The bond protects club members who suffer financial loss as a result of the principal’s actions. Typically, these bonds ensure that automobile club members are reimbursed for unearned membership dues if the club ceases to operate.
Contact one of our surety specialists to receive a free, no-obligation, personalized bond quote within 1 business day of applying.
What’s the fine print?
Automobile club surety bonds in Mississippi remain continuous until the surety is released from further liabilities by the Commissioner of Insurance.
How to become an automobile agent in Mississippi
To become a licensed automobile agent in Mississippi, applicants must file a license application with the Mississippi Insurance Department. Applications must be fully completed and signed by 2 executive officers. The required signatures must be notarized. The following materials must accompany each license application:
- A copy of the club’s certified bylaws
- A copy of the charter
- A questionnaire for directors, officers, managers and owners
- The most recent year-end financial statement
- Copies of each contract, service brochure and service agreement
- An issued certificate given by the Secretary of State verifying registration
- A legal process form
- A company authorized signature
- A $15,000 surety bond
- Required fees
Complete licensing information can be accessed via the Additional Resources section of this page. Begin the licensing process by purchasing the surety bond you need.