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Most Popular Bonds in Michigan
- Business Service Bond
Those who work in clients' homes or businesses purchase these bonds to protect against theft
- Collection Agency Bond
If you collect payments for debts as an individual or on behalf of a business, you must be bonded.
- Mortgage Loan Originator Bond
Required for individuals who work with borrowers to complete residential mortgage loans
- Non-Retail Liquor License Bond
Required for individuals who manufacture, store, or sell alcoholic beverages at wholesale
- Notary Bond
Required for public officers who witness and verify documents and administer oaths
- Special Event Alcohol Provider Bond
If you are part of a nonprofit organization hoping to sell beer, wine or spirits at an event, you must be bonded.
- Certificate of Title Bond
Required for individuals who own vehicles with insufficient proof of ownership
- Vehicle Dealer Bond
If you operate a motor vehicle dealership in Michigan, you must be bonded.
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Michigan Surety Bond Costs
“How much will my surety bond cost?” is the most common question our clients ask. Although several factors impact your exact surety bond cost, the primary factor is risk. “High risk” means there’s an increased chance that a claim will be made against a bond; these bonds typically require underwriting consideration. Low-risk bonds, on the other hand, can often be issued instantly for a set price.
$1,000 Michigan non-retail liquor license bonds, for example, are issued instantly at $100 for a 1-year term. Collection agency bonds, though also issued for Michigan, require a review of the applicant’s credit history and bond amount. This bond can cost as little as $100, depending on the applicant’s credentials.
Consulting a surety professional is the best way to determine your exact surety bond cost in Michigan. You can request your free quote online, or you can call 1 (800) 308-4358 to speak with an experienced bond specialist. SuretyBonds.com works with you to provide the lowest available rate, no matter your circumstances.
Determining Your Michigan Bond Type
With thousands of unique surety bond forms available nationwide, we know that determining the exact one you need can be confusing. Michigan has a variety of surety bond requirements, and it’s important to provide the right bond to earn licensure or protect a title on a vehicle, for example.
Contacting the obligee — the entity requiring the bond — is the best way to ensure you’re obtaining the correct bond. The department, office, or board requiring the bond can connect you with the bond form needed, as well as your required bond amount. These two pieces of information can speed up the bonding process when you work with SuretyBonds.com and guarantee you’re getting the bond you need at the best price available.
The SuretyBonds.com Advantage
Our mission is to provide every client with fast, easy, and accurate service while offering the best available rate. We achieve this by maintaining relationships with the nation’s leading surety underwriters, which ensures our clients have access to the lowest premiums. Over the years, we’ve also perfected our proprietary bonding system, which allows us to provide clients with unparalleled turnaround times.
Michigan License Information
SuretyBonds.com is legally licensed to issue bonds in Michigan.
Agency License # 0518463
Agent Producer License # 91620