Alabama Motor Club Bond
AmeriPro Surety Bonds | 844-589-9732
Motor Clubs – Alabama
The Alabama Department of Insurance is the state entity charged with the licensing and regulation of motor clubs.
One of the conditions for licensing, which is no doubt why you’re here, is that you file the appropriate surety bond.
Our agency works to make the surety bond process easy and a relatively quick process for you.
Amount of Surety Bond – Qualifying – Estimated Premium
The Alabama motor club bond is a $25,000 surety bond required as a condition of licensing.
Qualifying for this surety bond involves completion of a surety bond application (which can be done over the phone with an agent). Also, an underwriter review, along with a credit inquiry will be performed as part of the surety bonding process.
As part of the surety underwriting process, you will be asked the following:
- Whether you have any lawsuits or unsatisfied judgments against you;
- If you have ever had a surety bond that has been canceled;
- If you have ever filed bankruptcy, or failed in a business endeavor;
- If you currently have any items in collections or whether or not you have any outstanding liens.
A well-qualified applicant will pay $250, annually for this bond; however, credit score will influence the amount of premium required.
The Purpose of This Surety Bond
The Alabama motor club bond serves as a financial guarantee that you will pay all contractual liabilities to members of your motor club and any subscribers to their fullest extent.
Your liability as principal, from a surety standpoint, will not exceed the amount of the surety bond; however, you are required to indemnify the surety in full for all costs and fees associated with paying in claims on your bond.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit surety bonds throughout Alabama and nationwide.
Please contact our agency today at:
Or you may fill out the form below and an agent will contact you…