New Mexico Driving School Bond Guide
If you’re applying for a driving school license in New Mexico, you’ll likely need this surety bond.
Bond Overview
- Purpose: To hold driving schools financially liable for operating legally
- Who Needs It: All driving school or instructors in New Mexico
- Regulating Body: The New Mexico Traffic Safety Bureau
- Required Coverage: $5,000–$15,000
- Premium Rate: 1–10%, credit-based
Learn all about the bond requirements and process in this guide.
What Is a New Mexico Driving School Bond?
A New Mexico driving school bond ensures that driving schools follow all regulations and protects students from fraud and misrepresentation by the driving school.
How Much Do Driving School Bonds Cost in New Mexico?
New Mexico driving school bonds cost a small percentage of the bond amount, typically 1–10%.
For example, rates start at $150 for the $15,000 bond. Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Driving School Bond?
The New Mexico Traffic Safety Bureau requires this bond as part of the licensing process for any person or entity licensed to offer driver education courses in the state.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a New Mexico driving school bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll email you the bond shortly after purchase. Be sure to file the bond with the New Mexico Traffic Safety Bureau as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a New Mexico Driving School Bond Work?
As with all surety bonds, a driving school bond creates a legal contract between three parties:
- Principal: You, the driving school filing the bond
- Obligee: The New Mexico Traffic Safety Bureau requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of NMAC 18.20.3.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your driving school bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
