Louisiana Auto Title Company Bond |
AmeriPro Surety Bonds | 844-589-9732
Auto title companies in Louisiana are licensed and regulated by the state’s Department of Public Safety, Office of Motor Vehicles.
Such companies must post a surety bond in one of two amounts:
- If you have one location, you require a $100,000 surety bond;
- If you have more than one location, regardless of the number, you require a $125,000.
Our agency’s goal for you as a new or renewal client is to offer quick turnarounds and the fairest pricing for this bond.
Qualifying for this Surety Bond:
Qualifying for Louisiana auto title company bond is by completion of a surety bond application. Much of the application can be taken from you over the phone.
One of two things will follow. For established businesses who meet certain criteria (i.e. an applicant with no felony convictions; at least 3 years in business with the same name and location, and other criteria), we offer this bond for streamlined processing without a credit check.
If you don’t meet these qualifications (there are about 6 of them) then it’s just simply qualifying with a standard credit score inquiry. You will still qualify for the exact same pricing as those who may qualify without a credit check.
Estimated Premium & Licensing Term
Both surety bond amounts — $100,000 and $125,000 — may be issued for one or two years. A two year premium will coincide with your licensing – which will expire on the first day of June following the second year which your contract was signed with the Department.
The estimated premiums for those who qualify are as follows:
— $100,000 auto title surety bond —
- If issued for one year, about $1005;
- If issued for 2 years, about $1804, nearly a $200 savings.
—$125,000 surety bond—
- If issued for one year, about $1260;
- If issued for 2 years, about $2260, about a $260 savings.
Purpose of Your Surety Bond Requirement
Your auto title dealer bond is a financial protection for the Louisiana consumer which protects them against:
- Breach of contract or warranty;
- Misrepresentation as a byproduct of fraud or malfeasance;
- Failure of title.
As principal of this bond, you are responsible for any claims paid by the surety; however, the aggregate sum of all the claims will not exceed the total of your bond amount.
AmeriPro Surety Bonds is a surety bonds-only agency which provides license and permit bonds throughout Louisiana.
Our agency also provides surety bonds nationwide.
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