If you’ve been told you need a surety bond in South Dakota, you’re likely wondering how much it will cost. A few factors can affect surety bond premiums, but the primary indicator is the risk associated with the specific type of bond needed.
Bonds considered to be low-risk, such as those for notaries public, can be issued instantly for a flat rate without a credit check. Bonds considered to be high-risk, such as those for lottery retailers, typically require underwriting consideration to determine pricing. Standard market rates for bonds that require underwriting typically fall between 1-3% of the bond amount. For example, a $25,000 vehicle dealer bond would cost just $250-$750 for applicants who qualify for a standard market.
Consulting a surety expert is the best way to determine your exact surety bond cost in South Dakota. You can request a free quote online instantly, or you can call 1 (800) 308-4358 to speak with our staff about your needs. SuretyBonds.com works with you to provide your bond for the lowest available rate.