Bond Amount

[h2o]

The state requires me to obtain a $10K Surety Bond in order to get licensed as a private investigator. Is there any benefit for getting the bond for a larger amount, say $25K, just in case?

[Surety Wizard]

There would not be a benefit to getting a larger bond than is required. The bond is not insurance so it will not do anything for you. It allows you to be licensed for the type of work you are doing and insures you will run your business under the guidelines that the state has set forth. Not to mention that the cost will be considerable higher and the bond could be rejected because it is the incorrect amount.

[Bond Magician]

Originally Posted by Surety Wizard

There would not be a benefit to getting a larger bond than is required. The bond is not insurance so it will not do anything for you. It allows you to be licensed for the type of work you are doing and insures you will run your business under the guidelines that the state has set forth. Not to mention that the cost will be considerable higher and the bond could be rejected because it is the incorrect amount.

Does each different bond form have the bond amount listed on it?

[Surety Wizard]

The bond form may not list an amount on the form itself. It is up to you to make sure you know the correct amount that is required and we will put it on the bond form when completing the bond.

[Bond Magician]

Originally Posted by Surety Wizard

The bond form may not list an amount on the form itself. It is up to you to make sure you know the correct amount that is required and we will put it on the bond form when completing the bond.

What happens if the incorrect bond amount is typed on the bond? Will it be rejected by the State?