How Much Does A Surety Bond Cost?

Well, It Depends

One of the most common questions people ask about surety bonds is: how much does a surety bond cost? Today we are doing a quick review of how much a surety bond cost and ways you can reduce your surety bond rates regardless of which state you are doing business in.

As always, if you wish to skip the blog and have other questions or bonds you’d like to talk about instead, you can contact a surety bond expert at Jurisco.

Understanding Surety Bond Rates

Surety bond rates are based off more than just the type of bond a client is trying to obtain. A rate can be determined by the surety bond company you choose, any state or local surety bond requirements, the length of duration necessary for the bond, and the credit score of the surety bond applicant. 

The surety underwriter is looking to evaluate risk for both the company and the client. By being able to fully understand the bond situation, a lower surety bond rate can be delivered in most situations. 

Surety Bond Cost

Surety bond cost is determined by the overall value of the bond, history of the client, as well as any special circumstances. The cost of the bond typically is only a small percentage of the overall value of the bond. Surety bonds are by far the cheaper alternative than providing an all cash option.

If a client wanted to all cash they would have to deliver every single penny beforehand. Using a surety bond allows people to save money and only have to put down a small fraction of the cost up front. That’s why surety bonds are trusted nationwide for a variety of situations.

Surety Bond Rates Vary by Bond

When you consider each surety bond covers a specific purpose, it makes sense why they cannot all be one-size fits all. 

For example, a business trying to follow its state guidelines and become bonded should be able to do so fairly easily without causing an economic barrier to entrepreneurship. 

A plaintiff trying to evict a tenant is a steeper hill because now a defendant is in the picture and you’re talking about removing someone from their home that they believe they also have legal claim to. 

Surety bonds can get messy. Avoid all the mess and clean up and go with a surety bond company that offers low rates even if the surety bond requirements are high.

Reducing Surety Bond Rates

Jurisco is here to help secure the lowest surety bond rates possible. That means making sure to do things like reducing the cost of a guardianship bond in California

The state of California has laid out requirements for each person who seeks to become a guardian.  A guardianship bond is a type of surety bond required for a party or individual wishing to serve as a guardian in California. When a person is deemed incapacitated or needs a guardian, the court requires this surety bond to protect the individual from financial misuse or other harm by the guardian.

The California surety bond experts at Jurisco are here to help ensure you know and satisfy all the requirements laid out by the state’s guardianship bond mandate. 

Let the Experts Handle Cost Cutting

There are many benefits of working with a surety bond expert including being able to rely on them to find all the ways to save money. 

Jurisco is a team of lawyer-trained surety bond experts that know all the ways to save clients money – even if they do have bad credit. 

Always choose a reliable surety bond company like Jurisco to work with. While there are some companies that have a lot of flash, you may find them to lack the necessary substance required to make a surety bond work. 

Want to learn more ways to save money on surety bonds? Contact a surety bond expert today to ask any questions you may have about surety bond cost, surety bond applications, and the different types of surety bonds offered by Jurisco nationwide. 

Trust the Surety Bond Experts

The Jurisco lawyer-trained staff are here to help you today.