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Frequently asked questions
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- How does a bond work?
We get asked all the time (how does this work?) The bond business is regulated by the State Insurance Commission and is a lot like any other insurance policy. You pay you insurance agent a non refundable premium to insure your car for a certain amount. That agent does not get to keep all of that premium, a percentage of it goes to the company that is actually insuring your car. He is just the broker, the middle man. Well a bond is no different, the non refundable premium you pay a bail agent to get you out of jail is in fact an insurance policy for the amount designated by the courts to insure that you will show back up for court. A percentage of that premium is paid to the surety company he/she works for and is owed whether you pay them or not. Meaning the minute you walk out of that jail that bondsman owes money for the bond they just wrote for you whether you pay them or not. Your bondman does not get to keep all the money you give them.
- How much does it cost?
The fees and percentages a bondsman has to pay the company he/she writes for is based on 10% of the bond amount. This is why you are charged a 10% premium, that is the base set by the state. However, a bondsman can charge any amount over that if he/she chooses to do so. This is typical on smaller bonds, it's hard to get a bondsman out of bed at 3 am for a $500 bond that would only pay a $50 premium so most bondsmen have a minimum fee of $100 or more. A higher premium is also typical on bonds where the client is from out of state.
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