How Is A Surety Bond Rate Determined?
One of the first questions most people have about surety bonds is how much are they going to cost. A surety bond rate is a part of what determines that cost. Jurisco works with every client to deliver a low surety bond rate to make surety bonds cost effective.
What are some key factors in determining a surety bond rate?
A surety bond rate is determined by a variety of factors including the value of the bond, any court fees, state costs, and even credit score. Yes, bad credit can impact surety bonds, too. The value of the bond is often set by the state or the court. Value for a wage garnishment bond, for example, is determined by the total amount of wages to be garnished.
At Jurisco, bond professionals consider everything when calculating surety bond rates. This way Jurisco can offer low bond rates to clients in every state.
Is paying a surety bond rate better than paying in cash?
Surety bonds tend to be more cost effective when compared to paying large sums in cash. Not even large corporations can pull together huge sums of money in a short timeframe. This coupled with only having to pay a small fraction of the cost up front make surety bonds better than paying in cash.
A low bond rate is going to be far cheaper than paying the total value of the bond in cash. A replevin bond that is worth double the amount of the value of the property involved in the bond. Imagine paying that in one payment. The surety bond rate covers everything and is more affordable.
How does Jurisco always offer a low surety bond rate?
Jurisco is a nationwide surety bond provider that benefits from having state by state expertise. They know the state requirements and how to avoid costly mistakes. Bond professionals can help clients in every state find a low surety bond rate.
Want to know more about low surety bond rates? Contact Jurisco to speak to a bond expert at 800.274.2663 today.