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Popular Surety Bonds in Virginia
Fuels Tax Bonds
Fuel tax bonds ensure that fuel sellers pay all taxes, interest, and penalties they owe the state. In Virginia, fuel blenders, distributors, refiners, suppliers, and various others need this bond.
Virginia Department of Transportation Bond
Various authority types must file a surety bond with the DMV, including transportation of passenger brokers, household goods carriers, common carriers, employee haulers, etc.
Nursing Home Facility (Patient Trust Fund) Bond
Long-term care facilities like assisted living centers and nursing homes must obtain a nursing home bond.
Surety Bonds for Contractors
To become a contractor in the state, you must post a contractor license bond ($50,000). Additional bonds may be required in various cities and counties.
Auto Dealer Surety Bond
Franchise and independent auto dealers must submit a $50,000 surety bond to the Virginia Motor Vehicle Dealer Board.
Virginia Probate Bond
If you’re about to be appointed as an administrator or executor, the court or decedent’s will may require a probate bond.
Find Your Virginia Surety Bond
Don’t see the bond you need?
Give us a call at (888) 435-4191 or use our generic form to start your application online. We’ll reach out soon!
What is a surety bond?
A surety bond is a legally binding contract ensuring one party keeps its promise to another. If one party fails to keep their promise, the surety company will compensate the party who experienced the loss. Then, the party at fault for breaching the contract must pay the surety back.
Learn more in our Ultimate Guide to Surety Bonds!
How much does a surety bond cost in Virginia?
The cost of a bond can vary based on a few factors, including the type of bond, the amount required, your credit score, and finances. Your bond premium will be a small percentage of the total bond amount – typically 1-10%.
Generally, the stronger your credit score, the lower your rate will be. However, we do not need to run your credit in some cases. We can issue some bonds instantly at a flat rate.
Virginia Surety Bond Requirements
Various businesses, contractors, and other professionals will need surety bonds to operate legally in Virginia. Many professions that require state, county, or city licenses to work or practice will also require surety bonds.
Here are some examples:
- You may need various construction bonds to work as a contractor.
- You may need a license or permit bond to operate a professional business.
- Or you may need a court bond to fulfill your duties as a fiduciary.
How to Get a Surety Bond in VA
We’ll help you find the bond you need, complete the application, and be off and running. Call us at (888) 435-4191 or email support@zipbonds.com. We also have Live Chat on our website during working hours. Reach out any time!
About ZipBonds.com
Founders Ryan Swalve and Zach Mefferd formed the vision for ZipBonds.com when they realized how overly complicated it was to help clients place surety. The frustration of being unable to incorporate the technology they’d used in other insurance-focused projects left them thinking “there has to be a better way.”
Fast forward a couple of years, and that better way is the impetus of everything we do at ZipBonds. We constantly look for innovative ways to improve the bonding process for our clients and agents. Our team comprises individuals who understand all angles of surety – for companies, agencies, and individuals. Incorporating everyone’s point of view to improve the process while simultaneously integrating cutting-edge technology is what sets our business apart.