Several factors could affect what you’ll pay for a surety bond in Maine, primarily the bond’s risk. Bonds with limited risk, such as certificate of title bonds, are often issued instantly for a low, flat rate. Bonds with more risk, such as motor vehicle dealer bonds, typically require a review of the applicant’s financial credentials to determine the premium.
When bonds require underwriting to determine pricing, rates typically start at 1-3% of the bond amount. For example, a $20,000 private school bond could cost just $200-$600 for applicants who qualify for a standard market.
Requesting a free quote is the best way to find out your exact surety bond cost. You can consult a surety expert by calling 1 (800) 308-4358 or by filling out our quick and easy online contact form. Our team works to provide every applicant with the lowest available rate.
