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Surety Bonds in Michigan

Surety Bonds in Michigan

Viking Bond Service offers fast, affordable and friendly service to help you find a surety bond in Michigan. Our team has been helping Michigan business owners find surety bonds for many years, making us a top choice for all of your bond needs. We understand how important it is for your business to get your state required bond at an affordable price, which is why we offer expert services for all types of bonds including both commercial and contract bonds.

How to get a Surety Bond in Michigan

Michigan surety bonds are acquired through a surety bond company. Viking Bond Services makes the application process easy with many commercial and license bonds obtainable through our online application. Contract performance bond applications require a more detailed application through a Viking Bond agent. All applications will also need to include some additional documentation that’s used to provide detailed premium quotes and complete the underwriting process. Most applications submitted to Viking Bond Service receive a quote within the same day and bond underwriting can be accomplished very quickly once the application is completed.

The Cost of Michigan Surety Bonds

Your surety bond premium cost is determined by a number of key factors including the bond amount and type. Many people are surprised to learn that their credit score, experience, and business financial records also play a significant role in determining premium cost. When calculating the premium, bond companies use the information in your application and the supporting financial documentation to predict the odds of the bond being claimed against. People with poor credit scores and little business experience will often pay a higher premium to secure a bond. Viking Bond Service producers are specialists at helping all businesses, whatever their credit history, secure an affordable surety bond in Michigan.

Common Michigan Surety Bonds

Surety bonds in Michigan come in many forms but there are two main types: contract and commercial bonds. Viking Bond Service agents are experts in all of the common Michigan surety bonds.

It’s not uncommon for state regulations to require businesses to maintain an active commercial surety bond. Our commercial bond experts can help with all of your license and permit bond needs including auto dealer bonds, mortgage broker bonds, and private school bonds.

Contract bonds provide the parties involved in a contract with a form of financial recompense should the contract terms not be fulfilled to a satisfactory level. Contract bonds are commonly used in the construction industry to ensure that projects are completed. There are four common types of contract bonds: bid bonds, performance bonds, maintenance bonds, and payment bonds. We offer expertise in all types of contract bonds.

Michigan Surety Bonds by Viking Bond Service

The team at Viking Bond Service can help your business secure the right bond at an affordable price. We’re here to help with all of your Michigan surety bond needs. Call, email or fill in an online application to request your bond premium quote today.

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