Oklahoma Service Warranty Association Bond Guide
If you’re applying for a service warranty license in Oklahoma, you’ll need this surety bond.
Bond Overview
- Purpose: To hold warranty providers financially responsible for upholding state laws
- Who Needs It: Service warranty licensees
- Regulating Body: The Oklahoma Insurance Department, Financial Division
- Required Coverage: $25,000–$100,000
- Premium Rate: 1–10%, credit-based
Learn all about the bond requirements and process in this guide.
What Is an Oklahoma Service Warranty Association Bond?
An Oklahoma service warranty association bond is a type of license bond that holds warranty providers financially responsible for upholding state laws.
The Oklahoma Insurance Department, Financial Division requires this bond as part of the licensing process for service warranty associations in the state.
How Much Do Service Warranty Association Bonds Cost?
Oklahoma service warranty association bonds cost a small percentage of the required coverage amount, typically 1–10%.
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.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get an Oklahoma service warranty association 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 mail you the bond via your preferred shipping method. Be sure to file it with the Financial Division as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does an Oklahoma Service Warranty Association Bond Work?
A service warranty association bond creates a legal contract between these three parties:
- Principal: You, the service warranty association filing the bond
- Obligee: The Oklahoma Insurance Department, Financial Division requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding all provisions of the Oklahoma Service Warranty Act.
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. To renew your service warranty association bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.