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Idaho Auto Dealer Bond

Idaho Auto Dealer Bond

Are you an auto dealer looking to conduct business in the state of Idaho? Then you’ll need an Idaho auto dealer bond.

The Idaho Motor Vehicle Dealer bond is a License Surety Bond that serves to protect Idaho's citizens by providing a path for recourse in situations where an Auto Dealer does not adhere to the laws, rules, and regulations as set in Idaho state legal statutes. An Idaho Motor Vehicle Dealer bond may be required as part of the Motor Vehicle Dealer licensing and/or vehicle registration process.

Requirements for Idaho Auto Dealer Bonds

In Idaho, the required Motor Vehicle Dealer bond amounts are as follows:

  • Idaho, Vehicle Dealer Performance bond requirement - $20,000 Surety Bond
  • Idaho, Motorcycle Dealer bond requirement - $10,000 Surety Bond
  • Idaho, All Terrain Vehicle Dealer bond requirement - $10,000 Surety Bond
  • Idaho, Utility Type Vehicle Dealer bond requirement - $10,000 Surety Bond
  • Idaho, Snow Machine Dealer bond requirement - $10,000 Surety Bond

You should always check with the Idaho Transportation Department, or requesting agency, for the most current required Idaho Motor Vehicle Dealer bond amount as well as the required bond forms.

Viking Bond Service, Inc. writes Idaho Motor Vehicle Dealer bonds. We can assist both clients with good credit, and clients with bad credit. Typically, the worse the credit, the higher the surety bond premium will be. In either case, we always work to get the best quote for you. Viking has partnered with markets that welcome Idaho Motor Vehicle Dealer bond applications and provide competitive quotes for them.

How to Get an Auto Dealer Bond in Idaho

Obtaining an auto dealer bond in Idaho is simple when you have the help of a qualified surety provider. Viking Bond Service is committed to providing a superior level of service when it comes to connecting the dots between contractors and their surety bond requirements. To understand how auto dealer bonds work in Idaho, we have to take a look at the three parties involved:

  • Obligees are the ones who require the bond (in this case, the state of Idaho).
  • Principals are the entities that need to be bonded, such as auto dealers seeking licensure.
  • Sureties are those who serve as underwriters for the bonds.

Viking Bond Service, Inc. serves as your surety of choice by combining the expertise of an industry leader with a knowledge of the local Idaho landscape.

How Much do Auto Dealer Bonds Cost in Idaho?

There is no fixed price for auto dealer bond premiums in Idaho, and there are many factors involved in determining rates. Premiums are calculated based on factors that might impact the likelihood of a claim being made, such as credit, bonding background, and business financial strength.

(See Also: Cost Expectations for Auto Dealer Bonds)

Viking Bond Service aims to provide superior level surety solutions for Idaho auto dealers of all levels. Give us a call at 1-888-278-7389 or request a quote online to connect with an Idaho bond expert today!

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