Missouri Surety Bonds

The cost of your Missouri surety bond is not a fixed figure. Instead, how much your bond costs depends on the type of bond you are applying for and the amount that you need to get bonded for. To provide you with a rate on your bond, sureties usually base their calculations on this amount.

Here is how surety bond cost is formed. Every surety bond has an amount. This amount is the sum that the surety will provide to obligees if there is a claim against the bond. The amounts of surety bonds are often determined by state governments, with the exception of those which are the same for all states. Contract bonds also have different amounts because they are determined for each case individually.

The quote on your premium that sureties provide you with is a percentage of that bond amount. How high or low a percentage you will be offered depends on a number of financial indicators. Most important among these is your personal credit score. Sureties take credit score always into account because it is a very direct indicator of an applicant’s financial stability.

To those applicants who have a high credit score and who, when asked, can also provide personal and business financial statements that demonstrate their stability, sureties offer so-called standard market rates. These rates are between 1%-4% of the total amount of your bond. In other words, the cost of your Missouri surety bond will be between 1% and 4% of the amount of the bond.

There are further factors that contribute to and influence the cost of your bond. Our surety bond cost guide can provide you with plenty of additional information on the topic. Make sure to have a look!

Many applicants don’t have a perfect credit score and are therefore often turned down by sureties. Yet, despite credit difficulties, bankruptcies or other issues, it is perfectly possible for such businesses to get bonded.

Lance Surety Bonds’ Bad Credit Surety Bonds program offers people who have a low credit score or no credit to get bonded. Bonding such businesses means that they can continue operating and eventually improving their credit standing. It is our desire to help businesses and we therefore offer this program to them.

Getting bonded under our bad credit program means that you will likely have to pay a slightly higher premium on your Missouri surety bond. This is necessary in order to compensate for the greater risk involved in bonding applicants with lower credit scores.

Regardless of the credit type, all our applicants are served the same and offered only the most exclusive rates on their bonds. Due to our network of partner surety bond companies in Missouri, we can find the best rates for our clients!

Your Missouri surety bond is just a few clicks away! To get started you need to apply online and fill in a couple of details about your and the bond you need. After that it will only take a short while before we come back to you with a free quote on your bond.

Getting bonded in Missouri is simple and by applying with us you are sure to receive one of the lowest quotes on your bond in the whole state. We know Missouri bonding requirements well and have plenty of experience bonding businesses in Missouri.

Feel free to call us at (877) 514-5146 anytime! We are available to respond to your questions, guide you through the application process and provide you with expert advice. Call us and let’s get your application process started!