Indiana
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Indiana surety bonds have become a regular requirement in the service, construction, transportation and motor vehicle industries.
By protecting service recipients from damages suffered as a result of an unfulfilled contract, they make the business industry operate with increased efficiency.
Getting bonded in Indiana serves two important functions in business transactions. First, surety bonds are an extension of credit to the principal. When claims are made by an obligee, the surety company honors the claim and later seeks compensation from the engaged principal. The principal, therefore, does not have to incur hefty out-of-pocket expenses when a claim is made against them.
Secondly, Indiana surety bonds provide insurance to the obligee. When an obligee seeks a service from the principal, they maintain peace of mind knowing that they can claim the bond should the involved principal fail to adhere to the contract. The claim is also fulfilled by a surety company like NFP, giving the obligee assurance that a valid claim will be honored.
Common Indiana Surety Bonds
Indiana surety bonds have become a regular requirement in the service, construction, transportation and motor vehicle industries.
By protecting service recipients from damages suffered as a result of an unfulfilled contract, they make the business industry operate with increased efficiency.
Getting bonded in Indiana serves two important functions in business transactions. First, surety bonds are an extension of credit to the principal. When claims are made by an obligee, the surety company honors the claim and later seeks compensation from the engaged principal. The principal, therefore, does not have to incur hefty out-of-pocket expenses when a claim is made against them.
Secondly, Indiana surety bonds provide insurance to the obligee. When an obligee seeks a service from the principal, they maintain peace of mind knowing that they can claim the bond should the involved principal fail to adhere to the contract. The claim is also fulfilled by a surety company like NFP, giving the obligee assurance that a valid claim will be honored.
Common Indiana Surety Bonds
Contractors Bond
Auto Dealer Bond
Notary Bond
Collection Agency Bond
Mortgage Bond
Public Adjuster Bond
How do I purchase an Indiana surety bond?
NFP, the nation's largest and most reliable surety company, is authorized to issue many different types of surety bonds in Indiana. We can provide the best rates for your bond, as well as the fastest issuance, to get your business off and running.
Our short online application makes it easy. Click below to start the application process today.
Indiana Surety Bond FAQs
Many Indiana professionals and businesses are required by law to carry a surety bond. Common examples include auto dealers, contractors, mortgage professionals, collection agencies and notaries. The bond protects the public by guaranteeing compliance and providing recourse for misconduct.
Surety bond premiums in Indiana typically range from 1 to 10% of the bond’s face value, influenced mostly by the applicant’s credit score and the bond type.
Indiana requires a wide range of bonds, each with its own coverage threshold. Common examples include:
- Auto Dealer Bond – $25,000 for new and used dealers
- Mortgage Broker Bond – typically around $60,000
- Collection Agency Bond – $5,000
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