Bond premiums are primarily determined based on the risk associated with the bond language combined with the presumed risk associated with the applicant. For example, notary bonds are considered low-risk and can be issued instantly for a flat rate without a credit check. Bonds with inherently more risk, such as mortgage loan originator bonds, are subject to underwriting consideration that involves a financial review.
For bonds subject to underwriting, standard market rates are typically just 1-3% of the bond amount. For example, a $10,000 bond would cost just $100 to $300 provided the applicant qualifies for a standard market.
The best way to determine your exact Colorado surety bond cost is to consult a surety expert. You can request your free quote online instantly, or give us a call at 1 (800) 308-4358 to speak with an experienced bond specialist. We’ll work with you to get the bond you need for the lowest available rate.