North Carolina Motor Club Bond Guide
If you’re applying for a motor club license in North Carolina, you’ll need this surety bond.
Bond Overview
- Purpose: To protect membership fees and ensure motor clubs operate legally
- Who Needs It: Motor clubs in North Carolina
- Regulating Body: The North Carolina Department of Insurance
- Required Coverage: $50,000
- Premium Rate: $500 for a 1-year term
Learn all about the bond requirements and process in this guide.
What Is a North Carolina Motor Club Bond?
A North Carolina motor club bond protects membership fees if the club closes unexpectedly. It also ensures that clubs follow all laws and regulations.
How Much Do Motor Club Bonds Cost?
A $50,000 North Carolina motor club bond costs a flat rate of $500 for a 1-year term. However, this bond expires every year on June 1, so your exact premium will be prorated based on the purchase date.
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Who Needs a Motor Club Bond?
The North Carolina Department of Insurance requires this bond as part of the licensing process for all motor clubs in the state.
A motor club promises its members to assist them in matters relating to the ownership, operation, use, or maintenance of motor vehicles. This includes services such as automobile theft reward, emergency road service, legal, towing service, and more.
How Do I Get My Bond?
With SuretyBonds.com, you can buy your North Carolina motor club bond instantly online. Just enter your information and checkout in minutes.
We’ll email you the bond shortly after purchase. Be sure to file it with the Department of Insurance as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a North Carolina Motor Club Bond Work?
A motor club bond creates a legal contract between these three parties:
- Principal: You, the motor club owner(s) filing the bond
- Obligee: The Department of Insurance requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of North Carolina General Statutes §58-69-10.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you must ultimately refund the surety.
How Do I Renew My Bond?
These bonds expire annually on June 1st. To renew your motor club bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
