AUTO DEALER BONDS AND GARAGE INSURANCE
Individuals looking to get their motor vehicle dealer license typically have to provide a mvd or used car dealer surety bond to guarantee their dealership will comply with industry regulations. This type of license and permit bond is known by a number of different names: automobile bond, car dealer bond, dealer bond, DMV bond, motor vehicle dealer bond, used car dealer bond, etc. No matter the exact name, this bond type is used to protect consumers from fraud and other wrongful actions committed by dealerships and their employees. In many cases they will also need a Garage Liability Insurance policy as well.
All American Bonds and Insurance are pros at Dealer Bonds and Garage Liability Insurance. Best of all we do it QUICKER than anyone else!
How much does a Dealer Bond cost?
Many factors are considered when determining the price of a dealer bond, such as bond amount, bond term, state, and credit history. Generally, the cost of the dealer bond will range from $100 to 10% of the bond amount. Multi year dealer bond options are available and can help save money and time.
How much does Garage Liability Insurance Cost?
Garage Liability Insurance varies in cost depending on location, number of dealer tags, number of employees, driving record, and other factors. Most states have a minimum required around $25,000. Other options are available such as dealers open lot to cover theft, fire, and vadalism, garage keepers for repair shops, and property coverage for items in the office. Cost can range widely from $1000 for state minimums per year to $15,000 for higher liability limits.
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Call us at 1-844-321-BOND (1-844-321-2663).
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