Most people don’t know what surety bonds are until they need one, so pricing is typically their first concern. The risk associated with the specific surety bond type will affect its cost. Bonds with limited risk, such as those for notaries, can typically be issued instantly without a credit check for a low, flat rate – usually just $50-$100. Bonds that have high risk, such as those for auto dealers, typically require underwriting before pricing can be provided.
Standard rates for bonds that require underwriting consideration are typically calculated at 1-3% of the bond amount. For example, a $10,000 bond would cost just $100-$300 provided an applicant qualifies for a standard market.
To determine your exact surety bond cost, consult a surety expert for pricing. You can request a free bond quote instantly online or by calling 1 (800) 308-4358. SuretyBonds.com will work with you to provide the lowest available rate for your needs.