Surety Bond Cost in Louisiana
Many businesses in Louisiana are required to get bonded in order to run a licensed business, or perform contract work on construction projects.
While the first impression of the bond amounts might seem very high, the actual price you pay to get your Louisiana surety bond is only a percentage of that amount, and is called the bond premium. The total bond amount represents the penal sum of the bond, which can be used as a compensation in case you transgress the contractual obligations of your bond. The surety bond cost is usually only 1%-4% of the bond amount, if you qualify for bonding at the standard market rates.
If you want an auto dealer license, for example, you’ll probably be required to furnish a Louisiana auto dealer bond, the amount of which can be as high as $100,000. While this figure seems large, you will have to pay only a small percentage of it to obtain the bond.
When you apply for a bond, the surety conducts a thorough examination of your personal and business finances, focusing on your personal credit score. On the basis of this assessment, it sets the premium you need to pay, which corresponds to the risk level involved in getting you bonded.
Your surety bond cost will depend on:
- Your credit score
- Personal and business finances
- Assets and liquidity
- Industry experience and business know-how
Want to get a ballpark estimate of your bond cost? You can use our surety bond cost calculator below.
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Bad Credit Program
Even with problematic finances, getting bonded in Louisiana doesn’t need to be difficult. That’s why we created our Bad Credit Surety Bond Program to help businesses obtain the Louisiana surety bond they need without any hassle.
The usual bad credit premiums can be in the range of 5%-15%, which is higher than the standard bonding market and is required because of the increased risk. No matter what your premium, you get the same completely secure backing of your Louisiana surety bond.
Applicants with low credit scores, or other negative financial records, pose a higher risk for sureties, which is why some sureties avoid bad credit bonding. This is not the case with us– we foster good connections with our trusted partners, so we can offer you the best bonding rates.
Use the table below to search for your specific Louisiana surety bond.
Couldn’t find your bond? No problem! Call us at (866)-450-3412 and our surety bond experts will find it for you.
Find the Bond You Need
The table below contains a list of only the most popular surety bonds. If you can't find yours, fill out our online application and select "Not in the list".
|Contractor License Performance & Payment (Local) Bond||Parish of Ascension||(Parish of Ascension, LA) Billboard Installation B||Apply Now|
|Contractor License Performance & Payment (State) Bond||Secretary, Dept of Revenue||Contractor/Sub-Contractor||Apply Now|
|Excess Weight, Other Highway & Street Permit Bond||LA Dept of Transportation Oversize||Highway Permit Bond||Apply Now|
|Debt Consolidators Bond||Louisiana Attorney General||Credit Repair Services||Apply Now|
|Insurance Adjusters Bond||Department of Insurance||Public Adjusters||Apply Now|
|Insurance 3rd Party Administrator Bond||Louisiana Department of Insurance||Insurance 3rd Party Administrator Bond||Apply Now|
|Mortgage Broker (1st & 2nd Mortgages) Bond||Office of Financial Institutions||Residential Mortgage Originator||Apply Now|
|Mortgage Broker (1st & 2nd Mortgages) Bond||Office of Financial Institute||Residential Mortgage Originator||Apply Now|
|Mortgage Lender/Banker (1st & 2nd Mort.) Bond||Office of Financial Institutions||Residential Mortgage Lender Surety||Apply Now|
|Mortgage Lender/Banker (1st & 2nd Mort.) Bond||Office of Financial Institutions||RESIDENTIAL MORTGAGE LENDER SURETY||Apply Now|
|Small Loan Companies Bond||Office of Financial Institutions||Pawnbroker Bond||Apply Now|
|Auto & Mobile Home Dealers (New & Used) Bond||Recreational and Used Motor Vehicle Commission||Motor Vehicle Dealer||Apply Now|
|Auto & Mobile Home Dealers (New & Used) Bond||Lousiana Motor Vehicle Commission||New Motor Vehicle Dealer Bond||Apply Now|
|Auto & Mobile Home Dealers (Used Only, No New) Bond||Recreational and Used Motor Vehicle Commission||Motor Vehicle Dealer||Apply Now|
|Motor Vehicle (Non-Dealer, Not Listed) Bond||Department of Public Safety||Auto Title||Apply Now|
|Motor Vehicle (Non-Dealer, Not Listed) Bond||LA Dept of Public Safety and Corrections||Department of Public Safety & Corrections Office o||Apply Now|
|Motor Vehicle (Non-Dealer, Not Listed) Bond||LA Dept of Public Safety and||Offical Motor Vehicle Inspection Station Bond||Apply Now|
|Motor Vehicle (Non-Dealer, Not Listed) Bond||Louisiana Motor Vehicle Commission||Recreational Products Dealer Bond||Apply Now|
|Sport Permits Bond||LOUISIANA STATE BOXING &||State Boxing & Wrestling Commission||Apply Now|
|Professional Licenses (All Other) Bond||Office of Financial Institutions||Pawnbroker Surety||Apply Now|
|Professional Licenses (All Other) Bond||Louisiana Public Service Commission||Intrastate Telecommunications Service Provider Bon||Apply Now|
|Schools (All) Bond||State of Louisiana Board of Regents||Blanket Bond for Solicitors (School)||Apply Now|
|Schools (All) Bond||State of Louisiana Board of Regents||Proprietary School Certificate of Registration Bon||Apply Now|
|Schools (All) Bond||Office of Motor Vehicles||Privately Owned Driving School Bond||Apply Now|
|Cigar/Cigarette & Tobacco Tax Bond||Department of Revenue||Tobacco Tax Bond||Apply Now|
|Fuel Tax (All Others, Sellers & Users) Bond||Louisiana Department of Revenue||Motor Fuels Tax Surety Bond||Apply Now|
|Utility Deposit Bond||Claireborne Electric||Utility Payment Bond||Apply Now|
|Utility Deposit Bond||SWEPCO||In Lieu of Cash Deposit Bond||Apply Now|
|Utility Deposit Bond||Entergy Gulf States Louisiana, LLC||Electric and or Gas Service Bond (Entergy Gulf Sta||Apply Now|
|Utility Deposit Bond||Cleco Louisiana||Utility Payment Bond (CLECO)||Apply Now|
|Financial Guarantee (All Other) Bond||Department of Enviromental||Waste Tire Transporter Financial Guarantee Bond||Apply Now|
|Money Transmitter Bond||Office of Financial Institutions||SALE OF CHECKS/MONEY TRANSMISSION SURETY||Apply Now|
|Telemarketing/Phone Solicitor Bond||Louisiana Dept of Justice||Professional Solicitor||Apply Now|
|Appraisal Management||REAB||Appraisal Management Company Bond||Apply Now|
Types of Surety Bonds in Louisiana
Bryant Surety Bonds can supply you with the Louisiana surety bond that you need. We’re licensed to underwrite the whole array of bonds in the state:
- License and permit bonds if you need a surety bond to obtain your business license.
- Contract bonds in case you are bidding on construction projects that require this specific type of Louisiana surety bonds
- Court bonds if you are required to furnish a bond by a Louisiana court.
If you need help with the type of bond that you have to obtain, give us a call at (866)-450-3412.
To give you the full picture, the three main types of Louisiana surety bonds are described in detail below.
Louisiana License & Permit Bonds
When you’re starting a new business in Louisiana, depending on the industry, you might be asked to get a license from a city, local or state authority, which usually includes posting a license and permit bond. For some trades, the same rules apply across the U.S. In most cases, there are local or state rules that you have to comply with.
License and permit bonds are required by licensing authorities, or the obligee of the bond, in order to protect the public. If you act in a harmful or fraudulent way, or otherwise don’t follow the applicable rules while conducting your business, the Louisiana surety bond is there to cover any financial harm caused by your activities.
The most popular Louisiana surety bonds include:
Bond amount: $20,000 if you sell less than 119 units in a 12-month period and $35,000 if you sell more than 120 units in a 12-month period
Expiration date: 31 December
- Louisiana contractor license bond
Obligee: Licensing authority of your city or town
Bond amount: Varies across different cities and towns
- Louisiana utility deposit bond
Obligee: The utility provider
Bond amount: Varies across areas and utility providers
Bond amount: $75,000
Expiration date: Coinciding with the licensing year
Louisiana Contract Bonds
When bidding on private or public construction projects, contractors are usually required to post contract bonds.
This type of Louisiana surety bonds applies only to the particular project that requires the bond of its contractors. Contract bonds ensure that your contracting business will follow all contractual obligations set when you’ve been granted the project.
The most common contract bonds include:
- Bid bonds
- Performance bonds
- Payment bonds
- Maintenance bonds
Louisiana Court Bonds
Court bonds are the third main type of Louisiana surety bonds. While court bonds are required relatively rarely, Bryant Surety Bonds can still underwrite them for you.
A Louisiana court might ask you to post a court bond in one of the following cases:
- When bringing a case to an appellate court, you will need to obtain an appeal bond, also known as a supersedeas bond.
- If you are appointed as a guardian of another person’s property or assets, which means you are a fiduciary, a Louisiana probate court is likely to require from you a fiduciary bond.
How to Get Bonded in Louisiana
If you need to refresh your knowledge about how bonding works, you can always consult our what is a surety bond page.
To start your bonding process, your first step is to apply online for your Louisiana surety bond. After you complete the application, you’ll need to supply all relevant documents and send them over to us.
We will review your full application and deliver your free, no-obligations bond quote in no time.
The final step is purchase the Louisiana surety bond, and make a copy of it for your personal records. Then you can safely send the original bond form to the authority that required it.
Call us at (866)-450-3412 to speak with one of our bonding experts in case you have any questions about the bonding process. We’d be more than happy to assist you.
Why Choose Bryant Surety Bonds?
How much you’ll have to pay for your Louisiana surety bond, and how secure its backing will be, both depend on the careful selection of a surety agency. Because of our excellent relationships with multiple surety companies, at Bryant Surety Bonds we can ensure the best bonding rates for our clients.
We collaborate closely with numerous A-rated and T-listed sureties, which means we have access to a wide variety of bonding programs. We can get you bonded whatever your credit situation is– and offer you the the best value for your money.
In terms of security, we give you rock-solid backing of your Louisiana surety bond, provided by Liberty Mutual Insurance, Washington International insurance Company, International Fidelity Insurance Company, and the rest of our trusted partners.