The Motor Vehicle
Dealer Bond is
required by Florida
law of any person,
partnership, or corporation that buys, sells, or deals 3 or more motor
vehicles in a 12 month
period. We have recently developed a new underwriting program to save you money on your bond premium. This new program does not require home ownership, financials, years in business, or collateral and was customised for those applicants with less than perfect credit. In addition to this program we are able to approve bonds at $250 annually for those applicants with strong credit. Take a couple of minutes to complete our online application to obtain a quote within hours.
We can also write your Garage Dealers Insurance, Dealers Liability, Dealers Open Lot, and Garage Keepers policies as these coverages are needed as well in most instances.
The Florida Department of Highway Safety and Motor Vehicles requires all licensed dealers to obtain a new $25,000 surety bond for their license renewal on May 1 of
every year. The bond does not protect the dealer, instead it serves to protect the consumer from fraud, misrepresentation, or similar under Section 320.27, Florida Statutes. Failure to obtain a bond / license is punishable by fine or jail time.
If you have any questions about our application, rates, requirements please feel free to call us at 1-800-800-1219 or by email at email@example.com.