Can you explain
surety bonds to me please? For example in Ohio motorists can obtain a
surety bond instead of auto insurance. According to the OH FR laws a
surety bond of $30,000 issued by an authorized surety or insurance company can be used instead of an auto insurance policy. So if you are covered under a bond and you use it, do you have to pay back the portion of the bond that you used? For example if you have liability loss of $20,000 and you use your bond to cover the $20,000 do you know have to pay back the $20,000? Thanks for the help.