How much does a $25,000 passenger carrier or passenger broker bond cost in Virginia?
Virginia passenger carrier or passenger broker surety bonds cost just $250. Simply click Buy Now below to visit our secure bond checkout to purchase your bond online today. It only takes a few minutes to be on your way becoming bonded as a Passenger Carrier or Passenger Broker in Virginia.
| Bond Type | Bond Amount | Cost | |
|---|---|---|---|
| $25,000 Passenger Carrier and Passenger Broker Bond | $25,000 | $250 |
Why do I need this bond?
The Virginia Department of Motor Vehicles requires passenger carriers and passenger brokers to post a $25,000 surety bond prior to conducting business.
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.
What’s the fine print?
Passenger carrier and broker bonds in Virginia remain in full force until canceled and does not automatically expire with the principal’s license. It remains continuous for a period of three years from the effective date listed on the bond. 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 adhere to the following requirements:
- Obtain $25,000 surety bond
- Pay $50 filing fee
- Pay $3 for duplicate license, if applicable
- Report new addresses to DMV’s Motor Carrier Services within 30 days
- Notify DMV in writing within 30 days if applicant goes out of business or stops providing authorized service
To become licensed as a passenger carrier in Virginia, applicants must complete the following:
- Meet bodily and property damage insurance requirements
- Obtain $25,000 surety bond
- Meet registration and license plate requirements
- Pay $50 filing fee
- Pay $3 Operating Authority Registration fee per vehicle
- Pay $3 for a duplicate license, if applicable
- Report new addresses to DMV’s Motor Carrier Services within 30 days
- Notify DMV in writing within 30 days if applicant goes out of business or stops providing authorized service
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Additional Resources
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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