Rhode Island Burglar Alarm Business Bond Guide
If you’re applying for a burglar alarm business license in Rhode Island, you’ll likely need this surety bond.
Bond Overview
- Purpose: To reimburse any material damages caused by wrongful acts
- Who Needs It: All burglar or hold-up alarm business owners in Rhode Island
- Regulating Body: The Division of Professional Regulation
- Required Coverage: $10,000
- Premium Rate: $100 for a 1-year term
Learn all about the bond requirements and process in this guide.
What Is a Rhode Island Burglar Alarm Business Bond?
A Rhode Island burglar or hold-up alarm business bond is a form of financial security required for licensing in the state.
If wrongful actions of the business cause material harm to a consumer, they can file a bond claim for reimbursement.
How Much Do Burglar Alarm Business Bonds Cost in Rhode Island?
A $10,000 Rhode Island burglar alarm business bond costs a flat rate of $100 for a 1-year term. Or, you can save 25% by selecting a multi-year term.
Click below to buy your bond in minutes!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Burglar Alarm Business Bond?
The Rhode Island Division of Professional Regulation requires this bond as part of the licensing process for burglar alarm businesses in the state.
Alternatively, you can deposit $10,000 cash collateral with the state.
How Do I Get My Bond?
With SuretyBonds.com, you can buy your Rhode Island burglar alarm business bond instantly online. Just enter your information and checkout in minutes.
We’ll email you the bond shortly after purchase. Be sure to file the bond with the Rhode Island Division of Professional Regulation as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Rhode Island Burglar Alarm Business Bond Work?
As with all surety bonds, a burglar alarm business bond creates a legal contract between three parties:
- Principal: You, the burglar alarm business filing the bond
- Obligee: The Rhode Island Division of Professional Regulation requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of R.I. Gen. Laws § 5-57.
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 burglar alarm business bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.