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How much does a Vermont certificate of title bond cost?
Vermont certificate of title bond costs start at $100. The exact cost varies depending on the surety bond amount required by the Vermont Department of Motor Vehicles.
- Bond amounts less than $5,000 cost $100.
- Bond amounts from $5,001 to $25,000 cost $20 for every $1,000 of coverage, starting at $100.
- Bond amounts from $25,001 to $50,000 cost $15 for every $1,000 of coverage, starting at $375.
- Bond amounts for more than $50,000 must be reviewed by an underwriter for pricing, starting at $750.
How do I get a certificate of title bond in Vermont?
You can purchase Vermont title bonds online 24/7. You must provide the following information for Department of Motor Vehicles approval.
- vehicle identification number (VIN)
- vehicle year and make
- if watercraft, vessel length
Once your payment is received, your official bond documents will be delivered to your email.
How long does it take to get a bonded title?
SuretyBonds.com offers instant Vermont title surety bond delivery 24/7. Purchase now to receive your official bond delivered in minutes by email.
*Note: If your bond amount is higher than $25,000, your purchase order will be reviewed by a team member before your documents are emailed.
What is a Vermont bonded title?
Vermont Statutes Annotated Title 23, Chapter 21 requires individuals who own vehicles, vessels, or watercrafts without titles file a surety bond for registration. The bond protects previous owners, lien holders, and future vehicle owners from expenses, losses, or damages resulting from certificate of title issuance.
By filing a Vermont certificate of title surety bond, an individual verifies they have legal ownership of their vehicle and that it was was not acquired under fraudulent circumstances. If the original title is found and a valid claim is filed against the bond, the surety company will provide funds to the harmed party up to the full bond amount. The bonded owner must then reimburse the surety company.
Who registers vehicles with missing titles?
The Vermont Department of Motor Vehicles enforces registration requirements for vehicles, vessels, and watercrafts without proper proof of ownership. The vehicle owner must file their lost title bond with the DMV within 30 days.
Who needs a Vermont bonded title?
If you own an unregistered vehicle, vessel, or watercraft less than 15 years old without proper ownership proof, the Vermont Department of Motor Vehicles will require you file a certificate of title bond along with your replacement title application.
The DMV does not require titles for vehicle, vessels, or watercrafts more than 15 years old. Vehicles less than 15 years old must have an original title or replacement title for vehicle registration.
Vehicles with an open lien are not eligible for a bonded title.
This bond is required for a watercraft, vessel, or vehicle title to be issued. If you plan to sell vehicles, a Vermont motor vehicle dealer bond is required.
How do I determine my bond amount?
The DMV requires the bond amount to be 1.5 times the current NADA value of the vehicle, vessel, or watercraft. If you need help determining your exact required bond amount, contact the DMV before purchasing your bond.
Do Vermont bonded titles expire?
Vermont lost title bonds do not renew after their initial 3-year term. The bond will be returned at the end of 3 years (or before) if the vehicle is no longer registered in Vermont and the current valid certificate of title is provided.
How do I update or change my bond form?
If the Vermont Department of Motor Vehicles requires your surety bond documentation to be updated for any reason, contact your surety provider. If you purchased your bond from SuretyBonds.com, email [email protected] to explain the needed change.
The most common changes for these bonds include:
- owner's name
- vehicle information
How do Vermont residents apply for a bonded title?
Before starting a bonded title application, contact the DMV to verify your vehicle, vessel, or watercraft qualifies for a bonded title.
- Fill out your replacement title application. You must explain why you don't have ownership documentation.
- Purchase a lost title bond in the required amount.
- File your replacement title application and bond.