Florida Recreational Vehicle Dealer Bond |
AmeriPro Surety Bonds | 844-589-9732
Florida Recreational Dealers:
Florida recreational vehicle dealers are regulated by the Florida Division of Motor Vehicles.
By Florida state statute, recreational dealers are also required to post a surety bond.
The bond, depending on the recreational dealership will be in one of two amounts.
Florida Recreational Vehicle Dealer Bond: Amount of Surety Bond Required
According to state regulations, the surety bond amount for recreational dealers operating in the state are as follows:
- A recreational vehicle dealer is required to have a $10,000 surety bond on file;
- The recreational vehicle dealerships has 4 or more locations, in which case a $25,000 surety bond is required.
Florida Recreational Vehicle Dealer Bond: The Purpose
The purpose of either surety bond amounts is to serve as a financial guarantee that the dealership will comply with all laws, federal and state, in the operation of their business.
The bond, as such, protects others from acts of theft, fraud, and criminal malfeasance connected with the operation of a dealership, and is for their sole benefit alone.
Besides this, the recreational vehicle dealer bond is also a prerequisite for licensing by the Florida Division of Motor Vehicles.
The Division is the obligee for this surety bond.
Florida Recreational Vehicle Dealer Bond: Duration
The licensing period and the bond period are between October 1st and September 30ttj/
State rules are very specific that gaps in bond coverage are not permitted for dealerships, although, of course, bond riders are acceptable.
Florida Recreational Vehicle Dealer Bond: Premium
The premium for this surety bond will depend on several criteria:
- The bond amount purchased;
- When the bond bond is purchased, since the license year runs from 10/1 to 9/1;
- Your credit score.
If you have good credit, you may expect to pay slightly above 1% for the bond for one year.
If your credit scores are lower, AmeriPro Surety Bonds will still be able to get you bonded; however, expect to pay — depending on your credit — significantly more.
Regardless, our agency will work to find you the best surety bond pricing.
About AmeriPro Surety Bonds:
AmeriPro Surety Bonds provides motor vehicle related surety bonds at a fair price throughout Florida.
We also provide license and permit, contractor, court, and fiduciary surety bonds.
We welcome the opportunity to work for you and we thank you for choosing our agency.