We are a surety only agency that thrives on creating an unbeatable client experience! Our industry leading bond volume allows us to create programs that can be tailored to each individual client, getting them their bond faster at the cheapest cost! Below are a few reasons our clients love to work with us:
Many states in the U.S. require licensed auto dealers to obtain a surety bond as a part of their licensing requirements. Such is the case in Minnesota. The state requires all auto dealers renewing or applying for a dealer license to post a motor vehicle dealer bond. The bond provides protection to the state, consumers, and others from illegal actions committed by auto dealers.
Get started by reaching out to one of our knowledgable agents or by filling out our online application.
Generally, these bonds are issued at 0.5% – 1% annually. However, an underwriter will need to review your application before offering terms. Credit score and experience are both underwriting consideration when determining the cost of the bond.
Motor Vehicles (automobiles) – $50,000
Motor Vehicle Dealer Bond (boat, snowmobile, horse trailer, motorized bicycle / moped) – $5,000
A motor vehicle dealer bond assures the public, state, and other parties that a licensed dealer will adhere to state laws and licensing regulations. If someone is impacted by a bonded dealer’s unethical behavior, they can make a claim against their surety bond.