The state of Florida has a statutory renewal date of April 30 for all Florida Motor Vehicle Dealer bonds. As such, now is a good time for car dealers to shop he bond. Rates for this bond have dropped significantly over the past couple of years as new new surety companies have entered the market.
During the height of the recession, auto dealers Nationwide struggled to stay in business and many did not make it. As a result, suety bond claims were at unacceptable levels, bond premiums increased and underwriting standards were tightened. The economy is much improved and the surety companies are looking for premium so rates have come down and underwriting standards have relaxed. As such, if you are a Florida Motor Vehicle Dealer, do yourself a favor and get a quote from a reputable surety agent, like Surety1.com
Surety1 was founded in 2003 and helps thousands of clients find the best prices on their surety bonds. We take pride in our work so that we can give you great service. Learn more about Surety1.