1. Start Your Application
2. Receive Your Free Quote
3. Buy Your Surety Bond
Most Popular Surety Bonds in Los Angeles
How Much Does a Surety Bond Cost in Los Angeles?
The cost of a Surety Bond in Los Angeles is usually between 1 - 10% of the total bond amount. The actual bond cost will depend on several factors. These are:
- The type of bond
- The bond amount
- Your credit score
- Work experience
- Business cash flow
- Assets
When applying for a bond of $1 million, you will be charged more compared to a bond of $100,000. This is because the risk is higher. Similarly, low-risk bonds attract lower premiums because they are less risky.
In addition, a surety bond provider will also look at the business cash flows and consider your assets and work experience. A positive business cash flow and a wealth of work experience can lower premiums.
Principals with substantial assets can negotiate lower premiums because they are more financially stable. The assumption is that even if they default, they have the assets required to repay the surety.
Lastly, surety companies will also consider the credit score. Below is an example of surety bond costs based on credit scores.
Surety Bond Cost Based on Credit Score |
||||
Surety Bond Name |
Surety Bond Amount |
Over 700 |
Between 600 - 699 |
Below 599 |
Parking Occupancy Tax Collection Bond |
$50,000 |
$500 - $1500 |
$1500 - $2500 |
$2500 - $5000 |
How to Get a Surety Bond in Los Angeles
1. Identify the Bond You Need
The first step is to know the type of surety bond required. For example, if you are a contractor, you must have at least a $15,000 contractor license bond.
Additionally, auto dealers, fuel operators, immigration consultants and other professionals must post surety bonds.
2. Apply For Your Bond
Once you figure out the proper bond, apply for it. With Lance Surety Bonds, the process is easy and takes just minutes to complete. We will provide an instant quote after the required documentation, such as financials and company information, is provided.
3. Get a Bond Rate
After providing your data, we’ll process it to determine how much you must pay for the surety bond. The amount is usually 1% - 10% of the value of the bond. The premium is calculated using the bond amount, risk factors, and credit ratings.
4. Purchase Your Bond
The final step is purchasing the bond by making the payment. We will then issue you with a bond from a top-rated provider and email it to you. The bond will protect the obligee and your customers if you fail to meet your obligations.
We recently helped an immigration consultant to get a $100,000 surety bond. The bond ensures that the consultant fulfills her legal obligations. It also provides financial protection to her clients in cases of misconduct.
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What Our Clients Have To Say?
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!