Most people know little about surety bonds until they need one, so pricing is usually the first concern they have. The risk associated with your specific bond type is the primary factor that affects its price. Bonds can be issued instantly for a low rate without a credit check if they have limited risk. An underwriting review determines pricing for high-risk bonds, such as lottery bonds.
Standard rates for underwritten bonds are usually calculated at 1-3% of the bond amount. For example, a $50,000 telephone solicitor bond would cost just $500-$1,500 provided the applicant qualifies for a standard market.
Consulting a surety expert is the best way to determine your exact surety bond cost. You can request a free quote instantly online or by calling 1 (800) 308-4358. We’ll work with you to provide the lowest available rate for your bonding needs.