Virginia Automobile Club Bond |
AmeriPro Surety Bonds | 844-589-9732
Automobile Clubs – Virginia
The Bureau of Insurance regulates the licensing of automobile clubs in the Commonwealth of Virginia. A $500 application fee is required, made payable to the Treasurer of Virginia.
Also, a surety bond, offered to you by AmeriPro Surety Bonds as both a first time and renewal bond, is necessary.
Virginia Automobile Club Bond: Amount and the Cost
The Virginia automobile club bond is a $30,000 surety bond required by the Bureau of Insurance.
A surety bond application, along with a credit check are required for the determination of the premium for this bond.
As an applicant for the automobile club you may be asked as part of the process for determining the bond’s price:
- Whether or not there are any liens or judgments against you;
- If you have any prior bankruptcies;
- Whether or not the you are involved in any lawsuits and in what capacity (plaintiff, or defendant);
- If your have ever had a surety bond revoked, and if so, an explanation as to why.
As a broad and general rule, an applicant with good credit may pay around 2% of the bond’s amount; however, we stress that the amount can vary based upon the above criteria.
The Surety Bond’s Duration
The VA automobile club bond is active for one year from the date of issuance. This bond must be renewed on an annual basis.
The Purpose of this Bond:
You automobile club is a financial guarantee for the Commonwealth which ensures your compliance with all applicable laws, regulations, and amendments governing auto clubs.
This is particularly so as it relates to breach of contract.
As principal of this surety bond, you maintain responsibility for any claims paid against your bond, if such were ever to occur. This means that you would be legally obligated to reimburse the surety for all costs and fees involved in the settlement of any claim.
AmeriPro Surety Bonds is a surety bonds only agency. We provide license and permit, contractor, court, and fiduciary surety bonds throughout Virignia.
Our agency also provides surety bonds nationwide.
Please call our agency today at:
Or, you may fill out the form below and an agent will contact you shortly.