West Virginia Surety Bonds

As mentioned above, surety bonds are most frequently required from businesses who wish to obtain a business license or permit. They are known as license bonds.

Construction contract projects, especially public ones, often requires surety bonds as well. These types of bond are called contract bonds.

Finally, in some cases an individual may have to post a court bond. Individuals need court bonds if they’ve been ordered to obtain one by a West Virginia court.

There’s an easy way to estimate the cost of getting bonded. Each surety bond will have a total bond required by a state government or agency. This amount is the maximum coverage that claimants can receive if their claim is proven.

Out of that total amount, you only pay few percentage points, called the bond premium. The premium is paid annually or biannually for as long as you need to maintain the bond. The bonding agency which underwrites the surety bond will ultimately determine how much you you pay to get bonded. The bonding cost depends on your personal credit score and financial status. For applicants with good credit, the premium will be between 1% and 4% in most cases.

If you wish to learn more about bond pricing, check out our What Does a Surety Bond Cost? page.

Yes, most types of surety bonds are available even to applicants with bad credit, thanks to our Bad Credit Surety Bonds program. Bad credit applicants are considered higher risk, which is why their premiums are in the range between 5% and 15%.

The application process is pretty simple and straightforward, especially if you use our online application. Once you submit it, we will be in touch with via email or phone to take you through the rest of the process.

You will receive a free bond quote and, after payment, it normally takes 1 - 2 days us to issue the bond. You will receive the original bond form by mail and copies (if requested) via fax or email.