How much does a passenger carrier bond cost in Virginia?
The Virginia Department of Motor Vehicles requires passenger carriers and passenger brokers to post $25,000 surety bonds prior to conducting business.
The price you’ll pay for your Virginia surety bond is based on a review of your personal credit report. Qualified applicants could pay as low as $250 for their bonds! Don’t let less-than-stellar credit stop you from getting the bond you need quickly, easily and accurately. Apply for your free bond quote now!
| Bond Type | Bond Amount | Cost by Credit Score* | |||
|---|---|---|---|---|---|
| 680 and up | 679 - 600 | 599 or lower | |||
| Passenger Carrier and Passenger Broker Bond | $25,000 | Starts at $250 | $1,000-2,000 | $2,500+ | Apply Now |
We can provide your free, no-obligation bond quote within 1 business day of submitting your application. Call 1 (800) 308-4358 or click here to connect with our team of surety bond experts.
Why do I need this bond?
By posting Virginia passenger carrier and passenger broker surety bonds, principals (carriers and brokers) pledge to comply with the provisions of Chapter 20 of Title 46.2 of the Code of Virginia. Specifically, these bonds protect any person who suffers financial loss as a result of a principal’s violations of these terms, acts of fraud or unlawful behavior while on the job.
Transportation brokers cannot perform the actual transportation of passengers.
The surety bond will initially cover all damages suffered by a person up to the full penal sum of the bond, but the principal must reimburse the surety for all damages paid out.
Our experts make purchasing the Virginia surety bond you need fast and easy. Request your free bond quote now!
What’s the fine print?
Passenger carrier and broker bonds in Virginia remain in full force and effect until canceled. The bond does not automatically expire with the principal’s license, but continues from term to term for a period of 3 consecutive years from the effective date listed on the bond form. The surety can cancel this bond at any time by giving written notice of cancellation to the Commissioner of the Department of Motor Vehicles. Cancellation becomes effective 60 days after the commissioner receives the notice.
How to become a passenger carrier in Virginia
To become licensed as a transportation of passengers broker in Virginia, applicants must:
- post a $25,000 surety bond
- pay the $50 filing fee
- pay $3 for a duplicate license, if applicable
- report any and all new addresses to the DMV’s Motor Carrier Services within 30 days
- notify the DMV in writing within 30 days if the applicant goes out of business/stops providing the authorized service
To become licensed as a passenger carrier in Virginia, applicants must:
- meet the bodily and property damage insurance requirements
- post a $25,000 surety bond
- meet the registration and license plate requirements
- pay the $50 filing fee
- pay the $3 Operating Authority Registration fee per vehicle
- pay $3 for a duplicate license, if applicable
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- report any and all new addresses to the DMV’s Motor Carrier Services within 30 days
- notify the DMV in writing within 30 days if the applicant goes out of business/stops providing the authorized service
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Important Links
Virginia Department of Motor Vehicles Passenger Carrier and Passenger Broker Bond Form
Virginia Department of Motor Vehicles Transportation of Passengers Broker
Virginia Department of Motor Vehicles Contract Passenger Carrier
Code of Virginia 46.2-2011.9. Bond and Letter of Credit Requirements
Code of Virginia Title 46.2, Chapter 20: Regulation of Passenger Carriers
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