How To Speed Up Your Surety Bond Application Process

If you’re in the market for a surety bond, you may find yourself filling out a short form, waiting for a surety bond agent to contact you, waiting for them to send a longer specific surety bond application, and after you’ve signed and returned this application, they’ll take up to 24 hours to make a decision, and only then will you receive a firm quote. This doesn’t have to be your surety bond shopping experience—choose a surety bond provider who’ll accelerate and simplify the bond application process for you.





Skip the Quick Quotes, Especially if You Have Bad Credit: If you’re searching for surety bonds on the Internet, you may find agents and providers offering "quick quotes", or quick surety bond quotes meant give you an idea of surety bond pricing options. Unfortunately, these quick quotes are only meant for IDEAL applicants—individuals with very good credit. Quick quotes are in no way a firm offer, just an estimation of surety bond pricing—in order to receive your surety bond you must qualify for a specified rate and complete an application. In many instances, fast surety quotes are inconvenient as they exclude many bonds. If you’re like the majority of surety bond applicants and do not have perfect credit, you’ll want to skip the "quick quotes" step altogether. (If you have an excellent credit score, chances are you can expect good pricing on your surety bond. If not, chances are you’ll still be able to obtain a bond but will have to pay a higher rate). Eventually, after completing the quote an agent will contact you, have you fill out a real application, and then you’ll wait for your actual quote. There’s no way of knowing the actual price of your surety bond until your application is reviewed by an underwriter.





Choose a Company With Fast and Efficient In House Underwriters: If you can, work with a surety bond company who makes underwriting decisions in house, eliminating the need for a wholesale broker to get involved. In most cases, this is a huge time saver for applicants and enables you to get your quote within an hour in most cases.





There are thousands of surety bonds available and these vary greatly depending on the state you’re applying in and the type of bond you’re looking to get. Don’t waste time receiving an inaccurate surety bond quote—contact an agent who can help you find the exact bond you need. Fill out a specific application and submit it electronically—you’ll receive a firm quote and form to be signed. You have the option to email or fax the signed form along with your check, and receive the bond you need the same day.





It’s important to note that there is a growing market for high-risk surety bonds with lower rates for individuals who have less than perfect credit. A good surety bond provider will specialize in offering applicants the lowest rates possible for their specific credit scenario, and issue a surety bond after consideration of more than just a credit score. Contact a surety specialist to learn more about how almost all applicants qualify for a bond.