The State of Florida, Department of Highway Safety and Motor Vehicles (DHSMV) requires the Florida Recreational Vehicle Dealer Surety Bond in order to get a dealer license for this type of business.
The state of Florida requires a dealer license for the following persons, partnerships and corporations:
Before applying for a dealer license, the following pre-license requirements must be met:
Once these requirements have been met, the following should be submitted to the DHSMV:
More information about these licensing requirements and procedures can be found on the Florida DHSMV website.
For a single dealer who buys, sells, or deals in recreational vehicles and has four or fewer supplemental licenses, the bond amount will be $10,000.
For a single dealer who buys, sells, or deals in recreational vehicles and has more than four supplemental licenses, the bond amount will be $20,000.
For any person who buys, sells, or deals in both mobile homes and recreational vehicles, a Florida Recreational Vehicle Dealer Surety Bond is not required, and only the $25,000 Florida Mobile Home Dealer Surety Bond must be submitted.
Please note the cost to obtain the bond will only be a small percentage of the bond amount.
The Florida RV Dealer Surety Bond states that the dealer will fully comply with the conditions of any written contract made by him as the dealer in connection with the sale or exchange of any recreational vehicle.
It is important to note that this bond is not insurance. If a customer suffers any loss or damages due to the dealer’s failure to comply with the regulations pertaining to RV dealers, the customer can make a claim on the dealer’s Florida Recreational Vehicle Dealer Surety Bond, which the surety company will pay out if settled. However, the bond principal (the RV dealer in this case) must repay the surety for any losses incurred due to the claim.
In order to obtain this bond, simply fill out our free online application! One of our licensed agents will contact you within one business day with a quote for the price to obtain your bond (the “premium”). If you choose to move forward after receiving your quote, we will have you sign any necessary paperwork and remit the premium payment, at which time we will ship your bond to you via USPS Priority Mail (with overnight shipping options also available).
What happens when the bond expires?
As these bonds specify a limited term, the bond must be renewed and continued by Continuation Certificate. Approximately two months prior to your bond’s expiration date, our company will send you an invoice to renew your bond for the next term. Once the renewal payment is collected (this will generally be the same as the first year, but can fluctuate based on credit), we will send you a Continuation Certificate with the new term dates listed. You will then submit this Continuation Certificate to the DHSMV as proof that your bond is still active. (Note: an active surety bond is required at all times in order to maintain your license)
Why choose Surety1?
Surety1.com is a service of AssuredPartners, one of the nation’s largest and fastest growing insurance brokers. Since 2003, surety1 has been the premier online provider of surety bonds nationwide. Our quality and reliable service has led us to an A+ rating by the Better Business Bureau and Surety1 is licensed in all 50 states.