West Virginia License Service Business Bond Guide
If you’re opening a license services business in West Virginia, you’ll likely need this surety bond.
Bond Overview
- Purpose: To protect clients and the state if a business makes fraudulent license service representations
- Who Needs It: Anyone applying to become a vehicle license service in West Virginia
- Regulating Body: The Department of Motor Vehicles
- Required Coverage: $25,000 or $100,000
- Premium Rate: 0.75–10%, credit-based
Learn all about the bond requirements and process in this guide.
What Is a West Virginia License Service Business Bond?
A West Virginia license service business bond protects against financial loss if an auto dealer makes fraudulent license service representations.
Your required bond amount will be $25,000 unless you are applying for a direct-to-customer (DTC) license. DTC license service businesses need $100,000 bond coverage.
How Much Do License Service Business Bonds Cost?
West Virginia license service business bonds cost a small percentage of the required coverage amount, typically 0.75–10%.
For example, qualified applicants often pay just $250 for the $25,000 bond. Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a License Service Business Bond?
The West Virginia Department of Motor Vehicles requires this bond as part of the licensing process for any person or business processing DMV documents for a fee.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a West Virginia license service business bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
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 License Service Business Bond Work?
A license service business bond creates a legal contract between these three parties:
- Principal: You, the license service business filing the bond
- Obligee: The Department 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-6B.
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 license service business bond, simply pay your renewal invoice when prompted.
After renewing, you’ll receive a continuation certificate to file with the as proof of ongoing coverage.
