Rhode Island Auto Wrecking & Salvage Yard Bond
AmeriPro Surety Bonds | 844-589-9732
Licensing of Salvage Yards and Auto Wreckers
Auto wrecking and salvage yard businesses operating in Rhode Island are regulated by the state’s Department of Business Regulation.
Attached to your application (if first time) you must show evidence of a $10,000 surety bond.
Qualifying and the Premium
The $10,000 Rhode Island auto wrecking and salvage yard surety bond is issued to you for a $100 annual premium. There is no credit check, which allows for the bond to be issued to you within minutes.
When you call us, we’ll ask you some basic questions: The name, exactly as it should appear on your surety bond, along with your address, phone number, and email.
After payment of the $100 premium, our agency issues this bond to you immediately. Your surety bond and Power of Attorney form will then be mailed to you. Upon receipt, you’ll sign your bond as Principal, sending it along with the additional paperwork and fees to the Department.
The Department’s address is:
State of Rhode Island and Providence Plantations
DEPARTMENT OF BUSINESS REGULATION
1511 Pontiac Avenue, Bldg. 69-1
Cranston, Rhode Island 02920
Premium Prepayment Options
At $100 premium, your auto wrecking/salvage yard surety bond will be issued to you for one year. Thereafter, your bond and the associated premium renew.
You also have the option to prepay your bond up to 3 years, which offers you a savings over annual renewals.
The premium prepayment options and savings are as follows:
- If prepaid for 2 years, the premium is $180, a $20 savings;
- If prepaid for 3 years, the premium is $260, a $40 savings.
Purpose Of Your Surety Bond
The purpose of this surety bond is to serve as a financial guarantee of your compliance with all laws and regulations involved in your profession, as amended.
AmeriPro Surety Bonds provides wrecking and salvage yard surety bonds where required nationwide. Our agency is also a provider of license and permit surety bonds in all 50 states.
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