Indiana Surety Bond
Apply for an Indiana Surety Bond today! Absolute Surety is a leading Indiana surety bond company. Apply easily online and take advantage of lowest rates. Quickly browse the bonds we offer in this state, or contact us for a full list.
What Surety Bonds Are Needed In Indiana?
There are three broad categories of mandatory Indiana surety bonds:
- License & Permit Bonds are required for certain individuals and businesses applying for or renewing a license to do business in Indiana.
- Contractor Bonds are required by certain Indiana municipalities before a contractor can bid or work on public construction projects in those jurisdictions.
- Court Bonds may be required for those appealing a court decision or serving as executor of an estate or guardian or custodian of another person, and in certain other instances.
It’s up to you to obtain any required bond, renew it when necessary, and repay the surety company any money paid out for a valid claim.
Indiana License & Permit Bonds
License and permit bonds are typically a statewide requirement imposed by a state agency, such as the:
- Indiana Alcoholic Beverage Commission, which requires a $1,000 permit and license bond for vintners, a $10,000 bond for brewers, distillers and liquor wholesalers, and a $15,000 bond for rectifiers.
- State of Indiana Dealer Division, which requires a $25,000 surety bond as a condition of obtaining and renewing a license to sell used autos and mobile homes.
- Indiana Family and Social Services Administration, Office of Medicaid Policy and Planning, which requires a surety bond to be posted as part of the process for enrolling in the Indiana Health Coverage programs and offering services to patients insured by Medicaid.
Indiana agencies that require license and permit bonds do so as a guarantee that licensees will comply with all relevant state regulations. Use our tool to search for any bond(s) that you may be required to obtain to operate your business in the state of Indiana.
Contractor Bonds In Indiana
Some Indiana cities and municipalities require contractors to obtain a contractor bond. Certain cities or municipalities require contractors to obtain various types of surety bonds in order to bid, win, or work on public construction projects within the jurisdiction.
Indiana Court Bonds
Indiana courts may require surety bonds from people who are appealing a court decision or seeking approval as the executor of an estate, guardian of a minor, or custodian of an incompetent adult, or who are acting in any other fiduciary capacity.
Indiana Bond Costs
The cost of a surety bond is calculated by multiplying the total bond amount by the applicable premium rate. People with good credit may pay a premium rate as low as 1% to 3%, while people with poor credit may pay a premium rate as high as 15%.