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The cost of a one million dollar surety bond will depend primarily on the type of bond you need, as well as a couple of other factors we will describe below. However, one thing is for sure: the bond does not cost a million dollars that you have to pay up front.
Instead, you’ll pay a percentage of the bond amount, known as the premium. This rate is typically between 0.75% and 10%, depending on your credit, financials, and the type of bond you need.

So, the cost of a $1 million bond can range from $7,500 to $100,000, with most applicants paying between $7,500 and $30,000 if they have good credit and strong financials.
The table below shows estimated premium ranges based on different credit score tiers:



What Affects the Cost of a $1 Million Bond?
Surety bond premiums are based on a risk assessment conducted by the surety provider. Several key factors determine what you’ll pay:
- Credit score: Your personal credit plays a major role. The better your score, the lower your premium.
- Type of bond: Risk levels vary between bond types. A performance bond on a construction project carries different risks than a license bond.
- Financial statements: Large bond amounts often require detailed business or personal financials to verify your ability to repay the surety if a claim is made.
- Industry experience: Your track record in the relevant industry helps underwriters evaluate your reliability.
- Bond obligee requirements: Some bonds may require collateral or stricter conditions based on the requesting entity.
Can You Get a $1 Million Bond with Bad Credit?
Yes, you can still get bonded with bad credit. While your premium may be higher, typically between 3% and 10% - you still have options.
To potentially lower your rate, consider including additional documentation with your application. Showing strong industry experience, healthy financials, or liquid assets can help offset credit-related risks. For more tips and information, explore our “How much does a surety bond cost?” guide.
And remember, if your credit score improves over time, you may qualify for a lower rate when it’s time to renew.
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Do $1 Million Bonds Require Underwriting?
Some $1 million bonds can be issued instantly at a set rate, but most will require underwriting, especially if financial risk is involved. This review helps determine your premium based on credit, financials, and bond type.
For more information, don’t hesitate to call us at 866.450.3412. Our team will walk you through what’s required for your specific situation.
Do You Need Collateral for a $1 Million Bond?
In some cases, yes. High-risk applicants or high-liability bonds may require collateral or personal guarantees to reduce the surety’s risk. However, if you have strong credit and financials, most $1 million bonds can be issued without collateral.
Common $1 Million Surety Bonds
Surety bonds in the amount of $1 million are often required in industries where significant financial responsibility or legal obligations are involved. Below are some of the most common types of one million bonds, each serving a unique purpose depending on your business activity or legal requirement.
Most Common 1 Million Dollar Surety Bonds
Fidelity Bonds
Performance and Payment Bonds
Court Bonds
Money Transmitter Bonds
Frequently Asked Questions
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