Professional Bondsmen (individuals or entities engaged in the bonding business who pledge cash or approved securities with the Commissioner) Required when: Required upon application for a professional bondsman license and must be maintained during the period of licensure. Exemptions: Individuals pledging property for …
Overview
What it is.
Professional Bondsmen (individuals or entities engaged in the bonding business who pledge cash or approved securities with the Commissioner) Required when: Required upon application for a professional bondsman license and must be maintained during the period of licensure. Exemptions: Individuals pledging property for …
Who usually needs it
Professional Bondsmen (individuals or entities engaged in the bonding business who pledge cash or approved securities with the Commissioner)
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateWVBond amount$10,000Term lengthContinuousObligeeWest Virginia Offices of the Insurance CommissionerRenewalLicenses renew annually on July 1; however, the financial responsibility deposit must be reconciled with the bondsman's liabilities as of the first day of each month.Bond classLicense BondCategoryProfessional ServicesBondProfessional Bondsman Financial ResponsibilityStatutory referenceW. Va. Code § 51-10-8; W. Va. Code R. § 114-103-8JurisdictionState
