At SuretyBonds.com, we know that getting bonded can be confusing. We’ve compiled this guide to calculating your surety bond cost so that you feel comfortable and confident working with us throughout the bonding process. When it comes to surety bonds, we’ve got you covered every step of the way.
Not knowing how much money you need to budget for extra expenses can be a real headache when you’re starting your own business. Licensing fees and other costs required for business registration can sneak up on you, and no new business owner wants to deal with hidden costs. The specialists at SuretyBonds.com don’t want applicants to worry needlessly about how much they’ll have to pay for their surety bonds.
Different states and different industries require different surety bond amounts. If you’re an auto dealer in Arizona, you must post a $100,000 surety bond, while new and used motor vehicle dealers in South Dakota are required to purchase a $25,000 bond.
Since bond amounts can vary greatly by state, the price you’ll pay largely depends on the state you’re working in. Select your state for specific pricing information.
In addition to the required bond amount, several factors impact the cost of auto dealer surety bonds, including personal credit score, personal and professional financial histories and the amount of risk associated with the bond. Other types of surety bonds require other credentials, including collateral. For these reasons, it’s impossible to determine a blanket bond cost figure that’s accurate for everyone. The amount you’ll pay for your bond is based on your credentials and is, therefore, different for every applicant.
Still, the surety experts at SuretyBonds.com have developed a system to make getting a free, no-obligation bond quote as easy as 1, 2, 3!
- Fill out our quick online instant contact form. A surety specialist will contact you within 24 hours.
- Work with our experts to complete a bond application.
- Let us do all of the hard work for you. We’ll shop your bond around on your behalf until we’re confident we’ve found the best price. Your account manager will contact you with your bond quote within 1 business day.
Call us today to get your personalized bond price quote!
Click here to find out what surety bonds are and how they work.