Indiana Surety Bonds

The cost of your Indiana surety bond is directly linked to the type of bond you are applying for. The amounts for license and permit bonds are set by the relevant local or state authorities. There are also a handful of bonds whose amounts are fixed on a federal level, such as freight broker bonds. The amount of contract bonds depends on the project and its contract.

The required bond amount is different from its cost, though. The price of your bond - or the surety bond cost - is a fraction of the total amount.

The primary financial factor that surety bond companies take into account when determining your rate is your personal credit score. Applicants with a good credit score can usually get bonded at standard market rates, which are usually between 1%-4% of the total amount.

Applicants who are further able to present good personal and business financial statements, evidence of industry experience, or the stability of their company also receive a lower rate.

Bad credit applicants are able to obtain an Indiana surety bond by using our special Bad Credit Surety Bonds program. Rates under this program are slightly higher, between 5%-15% of the total bond amount. This is necessary due to the increased bonding risk. Nevertheless, this is a good option if you are facing financial problems to still obtain the bond you need.

In order to get started with your bonding, you can apply online through our simple form for license and contract bonds. If you need a court bond, you need to use the court bond application.

As a first step, we will provide you with a free quote on your Indiana surety bond. You can then decide whether to purchase the bond. You can do this online, and then we will send you a hard copy, as well as a digital copy of your bond.

For a thorough overview of the bonding process, you can review the extensive How to Get Bonded page.

Call us at (877) 514-5146 if you have any questions, or need assistance. Our bonding experts will be happy to help you.

The most commonly required surety bonds in the Hoosier state include license and permit bonds for businesses who need to get licensed, contract bonds for licensed Indiana contractors, as well as court bonds.

License bonds are all types of surety bonds that are required in order for certain businesses and professionals to receive their license or permit. They are the most popularly used bonds and include auto dealer bonds, mortgage broker bonds, and collection agency bonds, among others.

Contract bonds are necessary for licensed and bonded contractors who want to bid on certain construction projects. Usually public construction projects require contractors to get contract bonds. More and more often, private projects will also require them. They guarantee the performance of contractors under the project contract, as well as their honesty toward subcontractors and suppliers.

Court bonds are a type of surety bonds that appellate and probate courts may request from appellants or fiduciaries in connection with court cases or judgements.