Renewal Rates

[Mother Bond]

Will my bond always renew at the same rate I paid the first year?

[Bond Magician]

Originally Posted by Mother Bond

Will my bond always renew at the same rate I paid the first year?

It really depends. If your credit was less than perfect when you first applied, you can certainly contact our office come renewal time and we can pull another soft credit report. If your personal credit has improved, we may be able to get you a better rate or fit you into a standard program. Your best bet would be to contact the rep that was handling your bond.

Hope this helps!

[Mother Bond]

My premium is already pretty low, is there any chance that I'll have to pay more when it's time to renew?

[Surety Queen]

Originally Posted by Mother Bond

My premium is already pretty low, is there any chance that I'll have to pay more when it's time to renew?

It's possible. Surety does a review of your information prior to each renewal. If your credit has seriously deteriorated, there could be additional premium due - if they will renew your bond.

[Mother Bond]

Originally Posted by Surety Queen

It's possible. Surety does a review of your information prior to each renewal. If your credit has seriously deteriorated, there could be additional premium due - if they will renew your bond.

If my credit does deteriorate, could my bond get cancelled?

[Surety Queen]

Originally Posted by Mother Bond

If my credit does deteriorate, could my bond get cancelled?

Absolutely! Surety reviews credit each year and if it doesn't meet their standards, they will non-renew. That doesn't mean we can't place it elsewhere, however.