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Platinum Bonds Insurance Agency

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Corporate surety or cash bond

Any person or entity operating as a collection agency or repossession agency in Michigan. Required when: Required as a condition for obtaining and maintaining a collection agency license. Exemptions: Entities such as banks, trust companies, savings and loan associations, real estate brokers, and attorneys are generall…

Bond amount"The initial bond amount for a new collection agency is $5,000. For subsequent …
State or jurisdictionMichigan
ObligeeMichigan Department of Licensing and Regulatory Affairs, Bureau of Professional Licensing

Essential point: Pin down whether this is your bond, then start the application. Ava can confirm the right state and license type if you are not sure.

Amounts can vary

Selected requirement: "The initial bond amount for a new collection agency is $5,000. For subsequent …. Other available requirements: "The initial bond amount for a new collection agency is $5,000. For subsequent years, the Department of Licensing and Regulatory Affairs determines the bond amount based on the agency's average monthly business as reported on its annual re…. Exact options still depend on the obligee, state, and underwriting.

Google icon5.0 ★★★★★Google review profileBBB iconBBB A+ AccreditedView the agency profile
2323 yearsHelping clients and agents
Overview

What it is.

Any person or entity operating as a collection agency or repossession agency in Michigan. Required when: Required as a condition for obtaining and maintaining a collection agency license. Exemptions: Entities such as banks, trust companies, savings and loan associations, real estate brokers, and attorneys are generall…

Who usually needs it

Any person or entity operating as a collection agency or repossession agency in Michigan.

Pricing & timing

What to expect.

Generic pricing

Miscellaneous surety bonds cover a wide variety of obligations that don't fit neatly into other categories. Typical Pricing:. • Small bonds: May be available as flat-fee premiums starting around $100–$250. • Larger bonds: Commonly around 1–5% of the bond amount, though rates vary significantly by bond type. • Underwriting: Requirements vary — some bonds qualify for instant approval, others require full underwriting. Pricing varies significantly by the specific bond type, jurisdiction, and requirements. Contact us for a specific quote tailored to your bond needs.

Your quote determines the actual premium.

Typical timeframe

Varies by bond type — contact for details

Timing can change when underwriting needs more information.
Application details

How it works.

  1. Start the application

    Confirm the bond and provide applicant and business details.

  2. Review the quote

    See the terms and premium before deciding to continue.

  3. Pay and sign

    Complete the required payment and signatures.

  4. Receive the bond

    Get the issued bond and filing or delivery instructions.

Platinum Bonds

Experience behind every bond.

Helpful guidance, a real agency team, and a clear path from research to application.

Google icon5.0★★★★★Google reviews

“Finally a company that understands what customer service is supposed to be.”

★★★★★

“My bond application was processed and received very quickly.”

★★★★★

“I highly recommend you do business with these folks.”

★★★★★
BBB A+ Accredited Business seal for Platinum Bonds Insurance Agency

BBB A+ Accredited

Open the Platinum Bonds Insurance Agency BBB profile.

23 years

Offering service to clients and agents alike.

Next step

Ready to move forward?

Start the secure application with this bond already selected, or ask Ava a question before you begin.

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