Several factors can affect a surety bond’s cost, including the risk associated with the specific bond type. Bonds with limited risk, such as notary bonds, can be issued instantly without a credit check for a low, flat rate. Pricing for bonds with high risk, such as mortgage license bonds, are subject to underwriting consideration.
Standard market premiums are typically calculated at 1-3% of the bond amount. For example, a $20,000 designated agent dealer bond typically costs just $200-$600 for applicants who qualify for the standard market.
Consulting a surety expert is the best way to determine exactly what you’ll pay for a bond in Illinois. Call 1 (800) 308-4358 to speak with an experienced bond specialist, or request a free quote online instantly. We’ll work to provide the lowest rate available for your needs.