Louisiana Surety Bonds

When you purchase a Louisiana surety bond, you’ll be charged a percentage of the total bond amount as an annual fee. This is known as the surety bond cost or bond premium. So, if you require a bond of $50,000, you’ll need to pay a fraction of this sum every year in order to maintain your bond. For the standard bonding market, the bond cost is usually between 1% and 4% of the total bond amount.

For some types of surety bonds, the same bond amount is required across the country. However, in other cases, the bond amount is set by local or state authorities and might even vary from case to case.

The exact amount your Louisiana surety bond costs will depend largely on your credit score, as well as your personal and business financials. Your surety 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 and you have a good credit score, you can expect to pay a lower bond premium.

If you have a bad credit score, purchasing a surety bond can be more difficult and more expensive. At Lance Surety Bonds, we have bonded thousands of applicants over the years. We know how challenging it can be to get the Louisiana surety bond that you need if you have bad credit. That’s why we offer our Bad Credit Program.

The program is designed for applicants with a low credit score, liens, past bankruptcies, or civil judgments against them. Professionals purchasing bonds through our bad credit program can expect to pay bond premiums in the range of 5% - 15%. This higher price is there to mitigate the increased risk of bonding an individual or company with an unstable financial history.

Our program is a great opportunity to get reliable bonding options at competitive rates, whatever your financial situation. Since we’ve forged close relationships with a number of A-rated, T-listed surety companies, we can look for the best bond, and the best price, for your circumstances.

Government and federal agencies in the state of Louisiana require surety bonds for a range of roles and professions. You’ll need to ensure you purchase the correct bond if you’re going to successfully fulfill your licensing or court surety bond requirements.

The easiest way to find out which surety bond you need is to contact the body that has requested you get bonded. This body is known as the obligee. For example, if you’re a mortgage broker, this may be a real estate governing body. Or, if you’re a notary or require a money transmitter bond, it may be a legal or financial institution or a government agency.

Your obligee will be able to tell you what type of bond you need. They will also be able to inform you what the bond amount needs to be in order to meet licensing requirements. Once you have this information, you can fill in our online application forms for a free quote or get in touch with a member of our expert team to find out more about your bond needs.

The bonding process in Louisiana is quick and easy. To find out how much your bond will cost, and to get the process started, you can apply online for a free, no-obligation bond quote.

For a more accurate idea of your bond cost, complete a full Louisiana surety bond application. You’ll need to supply a few professional and financial details, including your credit score and history as a business owner. You’ll then receive a full breakdown of your bond premium cost.

If you have a question about the bonding process or your surety bond application, we’re 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.