Louisiana Surety Bonds Explained
If you own a business in Louisiana, it’s very likely that you will be required to get a Louisiana surety bond in order to get your business license. This is a common prerequisite, to ensure your compliance with state regulations.
Authorities impose the requirement for a surety bond in order to to protect the interest of the general public– and the state– from any fraudulent activities on the side of licensed businesses. The bond acts like a contract between three entities. Your business is the principal that has to get bonded, the obligee is the party that demands the bond, and the surety is the bond underwriter.
What are the main types of Louisiana surety bonds that you might need in different situations? These include:
You often need to get license bonds if you are applying for a business license with a local or state authority. The most common professions that need this type of bond are auto dealers, freight brokers and mortgage brokers.
If you are a construction contractor bidding on public or private projects, it’s quite common that you will need to obtain contract bonds. Their purpose is to safeguard the project owner’s interests, by guaranteeing you will fulfill your contractual obligations.
- Less often, you might have to get a court bond. A Louisiana court can require one from you in case you are assigned as a fiduciary of another person’s assets or if you want to bring a court case to an appellate court.
Ready to start your bonding process? You can find the right Louisiana surety bond that you need in the table below. The full list of bonds in the state is available at the end of the page.
Need help finding your bond? Don’t hesitate to contact us at (877) 514-5146 and we’ll be happy to assist you.
Most Popular Surety Bonds in Louisiana
Planning to launch a car dealership in Louisiana? You will need an auto dealer bond between $10,000 and $30,000, depending on the type of business.
If you’d like to get licensed as a mortgage broker in Louisiana, you will need a mortgage broker bond of $25,000 or $50,000, depending on your loan volume.
Louisiana contractors must post a minimum $1,000 contractor license bond in order to get licensed in the state.
If you want to run a collection agency in Louisiana, a $15,000 collection agency bond is required from you.
Selling tobacco and cigarette products in Louisiana requires that you obtain a minimum $2,500 cigarette tax bond.
Want to work as an insurance adjuster in Louisiana? You need to obtain a $50,000 public adjuster bond.
Frequently Asked Questions
How much does a Louisiana surety bond cost?
How much you will have to pay for your Louisiana surety bond, or what your surety bond cost will be, depends on the bond amount you are asked to provide. For some bonds, the same amount applies across the country. In other cases, the bond amount is set by local or state authorities, and might even vary from case to case.
The general principle for formulating your bond cost is that you need to post a percentage of the bond amount, which is called the bond premium. For standard bonding market, the percentage is usually between 1% and 4%.
Your exact bond price is determined once your surety examines your personal and business financials. It will take a look at your credit score, business stats and professional experience to assess the risk involved in bonding you. If your finances are stable, you can expect a lower bond premium.
Can I get a Louisiana surety bond with bad credit?
At Lance Surety Bonds, we have bonded thousands of applicants over the years. We know how difficult it can be to get the Louisiana surety bond that you need if you have bad credit. This why we offer our Bad Credit Program.
For applicants with a low credit score, liens, past bankruptcies or civil judgments, the usual bond premiums are in the range of 5%-15%. The higher price is in place to mitigate the increased risk. Our program is a great opportunity to get the same reliable bonding options, at top rates for whatever your situation. Since we forge close relations with a number of A-rated, T-listed surety companies, we can look for the best bond for your circumstances.
How do I get bonded in Louisiana?
To start your bonding process today, you can apply online for a free, no-obligations bond quote. When you complete a full application, you will receive an exact Louisiana surety bond price.
Have a question about the bonding process or your application? We are here to help. Just call us at (877) 514-5146.
For a complete overview of how bonding works, make sure to check out our How to Get Bonded page.
Find Your Louisiana Surety Bond
|Contractor License Performance & Payment (Local) Bond||(Parish of Ascension, LA) Billboard Installation B||Parish of Ascension||Apply Now|
|Contractor License Performance & Payment (State) Bond||Contractor/Sub-Contractor||Secretary, Dept of Revenue||Apply Now|
|Excess Weight, Other Highway & Street Permit Bond||Highway Permit Bond||LA Dept of Transportation Oversize||Apply Now|
|Debt Consolidators Bond||Credit Repair Services||Louisiana Attorney General||Apply Now|
|Insurance Adjusters Bond||Public Adjusters||Department of Insurance||Apply Now|
|Insurance 3rd Party Administrator Bond||Insurance 3rd Party Administrator Bond||Louisiana Department of Insurance||Apply Now|
|Mortgage Broker (1st & 2nd Mortgages) Bond||Residential Mortgage Originator||Office of Financial Institutions||Apply Now|
|Mortgage Broker (1st & 2nd Mortgages) Bond||Residential Mortgage Originator||Office of Financial Institute||Apply Now|
|Mortgage Lender/Banker (1st & 2nd Mort.) Bond||Residential Mortgage Lender Surety||Office of Financial Institutions||Apply Now|
|Mortgage Lender/Banker (1st & 2nd Mort.) Bond||RESIDENTIAL MORTGAGE LENDER SURETY||Office of Financial Institutions||Apply Now|
|Small Loan Companies Bond||Pawnbroker Bond||Office of Financial Institutions||Apply Now|
|Auto & Mobile Home Dealers (New & Used) Bond||Motor Vehicle Dealer||Recreational and Used Motor Vehicle Commission||Apply Now|
|Auto & Mobile Home Dealers (New & Used) Bond||New Motor Vehicle Dealer Bond||Lousiana Motor Vehicle Commission||Apply Now|
|Auto & Mobile Home Dealers (Used Only, No New) Bond||Motor Vehicle Dealer||Recreational and Used Motor Vehicle Commission||Apply Now|
|Motor Vehicle (Non-Dealer, Not Listed) Bond||Auto Title||Department of Public Safety||Apply Now|
|Motor Vehicle (Non-Dealer, Not Listed) Bond||Department of Public Safety & Corrections Office o||LA Dept of Public Safety and Corrections||Apply Now|
|Motor Vehicle (Non-Dealer, Not Listed) Bond||Offical Motor Vehicle Inspection Station Bond||LA Dept of Public Safety and||Apply Now|
|Motor Vehicle (Non-Dealer, Not Listed) Bond||Recreational Products Dealer Bond||Louisiana Motor Vehicle Commission||Apply Now|
|Sport Permits Bond||State Boxing & Wrestling Commission||LOUISIANA STATE BOXING &||Apply Now|
|Professional Licenses (All Other) Bond||Pawnbroker Surety||Office of Financial Institutions||Apply Now|
|Professional Licenses (All Other) Bond||Intrastate Telecommunications Service Provider Bon||Louisiana Public Service Commission||Apply Now|
|Schools (All) Bond||Blanket Bond for Solicitors (School)||State of Louisiana Board of Regents||Apply Now|
|Schools (All) Bond||Proprietary School Certificate of Registration Bon||State of Louisiana Board of Regents||Apply Now|
|Schools (All) Bond||Privately Owned Driving School Bond||Office of Motor Vehicles||Apply Now|
|Cigar/Cigarette & Tobacco Tax Bond||Tobacco Tax Bond||Department of Revenue||Apply Now|
|Fuel Tax (All Others, Sellers & Users) Bond||Motor Fuels Tax Surety Bond||Louisiana Department of Revenue||Apply Now|
|Utility Deposit Bond||Utility Payment Bond||Claireborne Electric||Apply Now|
|Utility Deposit Bond||In Lieu of Cash Deposit Bond||SWEPCO||Apply Now|
|Utility Deposit Bond||Electric and or Gas Service Bond (Entergy Gulf Sta||Entergy Gulf States Louisiana, LLC||Apply Now|
|Utility Deposit Bond||Utility Payment Bond (CLECO)||Cleco Louisiana||Apply Now|
|Financial Guarantee (All Other) Bond||Waste Tire Transporter Financial Guarantee Bond||Department of Enviromental||Apply Now|
|Money Transmitter Bond||SALE OF CHECKS/MONEY TRANSMISSION SURETY||Office of Financial Institutions||Apply Now|
|Telemarketing/Phone Solicitor Bond||Professional Solicitor||Louisiana Dept of Justice||Apply Now|
|Appraisal Management||Appraisal Management Company Bond||REAB||Apply Now|