West Virginia Daily Passenger Rental Car Business Bond Guide
If you’re applying for a daily passenger rental car business license in West Virginia, you’ll likely need this surety bond.
Bond Overview
- Purpose: To prevent fraudulent misrepresentations by rental car businesses
- Who Needs It: Daily passenger rental car business owners
- Regulating Body: The West Virginia Division of Motor Vehicles
- Required Coverage: $25,000
- Premium Rate: $250
Learn all about the bond requirements and process in this guide.
What Is a West Virginia Daily Passenger Rental Car Business Bond?
A West Virginia daily passenger rental car business bond covers any purchaser, seller, financial institution or agency from harm if a rental car business is fraudulent.
How Much Do Daily Passenger Rental Car Business Bonds Cost?
A $25,000 West Virginia daily passenger rental car business bond costs a flat rate of $250. 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 Daily Passenger Rental Car Business Bond?
The West Virginia Division of Motor Vehicles requires this bond as part of the licensing process for daily passenger rental car businesses in the state.
How Do I Get My Bond?
With SuretyBonds.com, you can buy your West Virginia daily passenger rental car business bond instantly online. Just enter your information and checkout in minutes.
We’ll mail you the bond via your preferred shipping method. Be sure to file it with the DMV as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a West Virginia Rental Car Business Bond Work?
A daily passenger rental car business bond creates a legal contract between these three parties:
- Principal: You, the daily passenger rental car business filing the bond
- Obligee: The West Virginia Division of Motor Vehicles requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of West Virginia Code § 17A-6D-5.
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 daily passenger rental car business bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
