The Indiana School Bus Driver Bond is required by the State of Indiana. The bond states that the bondholder will follow all rules and regulations set forth for school bus drivers.
What is the purpose of an Indiana School Bus Driver Bond?
A school bus driver or fleet contractor (a person who contracts with a school corporation to provide two or more school buses and school bus drivers for student transportation) operating a transportation or fleet contract shall furnish a surety bond conditioned on faithful performance of the contract. There is no specific amount as the governing body will be the one to set it.
The 3 Parties of a Surety Bond
This surety bond is an added assurance to the state. It is not meant to protect the school bus driver, but rather the public. If ever a claim has been made and it is proven that there is a violation done, the surety company who issued the bond will give a payout. The school bus driver or fleet contractor, who is the principal of the bond, must reimburse the amount to the surety company.
Why should I choose Surety1 for my Indiana School Bus Driver Bond?
With Surety1 you are assured the lowest rates along with fast and friendly service. We have access to the best surety markets available.
Surety1 can get you a free, no obligation quote FAST. Start the process by completing our easy to navigate, online application form. After that, one of our surety agents will contact you with a firm quote for the bond premium. Next, when you’re ready to proceed, we’ll have you sign some paperwork and pay the premium. Lastly, your Indiana School Bus Driver Bond will be sent to you by USPS Priority Mail. Overnight is available for an additional fee.
Surety Solutions Insurance services, Inc. (Surety1) has been a premier provider of surety bonds since 2003 and is licensed in all 50 states. The company maintains an A+ rating from the Better Business Bureau and represents over a dozen “A” rated surety bond companies.