Private Investigator Surety Bonds
A private Investigator bond (also referred to as a detective bond) is protects customers who employ the services of a private investigator they have to be licensed by PIB. The amount of the bond is determined by the authority that issues the applicable license.
A private investigator bond is a contract between three parties: the private investigator business, the local or state authority, and the bond underwriter. The required amount for the bond varies by state. Private investigator bonds act as the guarantor to licensing authorities by making sure that the bonded party meets its responsibilities according to the law.
How do I get my private investigator license?
To get the license from the state or local authority, you have to obtain a form and provide the required details before submitting it to the organization. Once approved by the organization, the private investigators contribute premium bonds to the organization. This amount varies from place to place as there is no set amount by the organizations that specialize in this type of service.
A private investigator has to consult with the relevant authorities and comply with the requirements for before licensing. Investigative assistants, private investigation agencies, private and protective security agencies, security guards and agencies and other related organization must be bonded.
What is the cost of the private investigator bond?
The bond cost varies by state/region and depends on requirement where you are doing business. It also depends on whether you require it individually or as a group where normally the charges for more than one person are high. Actual costs are expressed as a percentage of the total bond amount.
The amount paid also depends on the strength of your personal and business finances.
The best way to determine the exact bond for you is by consulting with the local or state authorities. In some of the markets, the premiums range from 1percent to 3 percent of the required bond amount.
Can I get a bond if I have bad credit?
The term bad credit typically means low credit scores, tax liens, lack of money and/or civil judgments. Obtaining a bond is possible, but the premium will increase, typically to between 4 percent and 15 percent.
How do I get a private investigator bond?
The detective bond is easy to obtain. One can apply investigator bonds online anywhere and anytime. This is attained by downloading their form online. NFP has been the leader in surety bonds since 1984 and we can help you apply in just minutes.
After sending us all the required information, we submit your information to one of our carriers. This form is of great importance because it will help us get information on the exact services you provide so you have the right bond in place.
Please complete our online or downloadable application, or call 800.863.3210 for more information about private investigator surety bonding.