What Is a Title Bond?

A title bond, also known as vehicle title bond, is required as a replacement of a vehicle’s proof of ownership. It’s necessary if you’d like to sell or transfer a vehicle that you own, for which you have no title. The bond is required whether your vehicle titles have been lost or stolen, you have been sold a car with no titles and the merchant is out of business, or you’ve built your own vehicle.

If a person makes claims of ownership on a vehicle whose titles were missing at an earlier point, the bond guarantees that all relevant damages will be paid. For vehicles with lost or stolen titles, the surety bond serves as a certificate of title, providing a clean record and legitimate proof of ownership. Usually the term of the title bond is three years.

In principle, the title bond, just like any surety bond, is a contract between three parties. You as the vehicle owner are the principal, the Department of Motor Vehicles in your state is the obligee, and the surety is the one providing the bond.

If a claim is made on the bond within its term, and the claim is proven, the surety that has underwritten the bond will compensate the damages up to the penal sum of the bond. Afterwards you will need to fully reimburse it, though, as this is the condition of bonding. That’s why obtaining a title bond should be done only for vehicles that you own, as a claim can be quite costly.

Lost Auto Title Bond Cost

The bonding amount required by your state’s Department of Motor Vehicles is the current value of the vehicle, which is assessed considering its market value and condition. Thus, if it’s estimated to cost $20,000, this will be the bond requirement.

You will have to pay only a percentage of this sum, though. The usual premium is 1.5% of the assessed vehicle price. In the case of a $20,000 estimation, this means you will need to pay $300. Many sureties have minimum premiums, often around $100.

Working with a solid surety is important in reducing your title bond cost. Bryant Surety Bonds works with a range of A-rated, T-listed surety companies. This means we can shop around and offer you the best bonding rate for your specific situation.

If you’d like to get a rough estimate of your bond cost, you can use our surety bond cost calculator below.

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To see how the bond premium is calculated, you can check out the surety bond cost page. To get a free exact bond quote without any obligations, you can fill in our online application. It takes only a few minutes.

Bad Credit Program

Even if you have bad credit or other financial issues, you can still get your title bond with Bryant Surety Bonds’ bad credit program. You might have to pay a slightly higher bonding premium in order to mitigate the higher risk involved, but it’s still a great option for obtaining your title bond.

If your case requires a credit assessment and your score is below optimal, we’ll make sure you get bonded and be able to prove your vehicle’s ownership.

Get Your Title Bond Today

To get started with your bonding process, apply online today to get your free quote with no obligations! If you still need to gather more information before applying, you can call one of our bonding experts at 866.450.3412. They will gladly assist you.

About us:
Bryant Surety Bonds, Inc. is a surety bond agency based in Pennsylvania. Licensed in all 50 states and with access to over 20 T-listed, A-Rated bonding companies, we have the contacts, expertise, and top service to provide you with a hassle-free experience, all while offering competitive rates for your surety bond.