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Platinum Bonds Insurance Agency

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Surety Bond

Any person or business entity providing money transmission services in Michigan, including selling or issuing payment instruments or stored value, or receiving money for transmission. Required when: At the time of filing an application for a license under the Money Transmission Services Act. Exemptions: The United Sta…

Bond amount$500,000
State or jurisdictionMichigan
ObligeeMichigan Department of Insurance and Financial Services (DIFS)

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: $500,000. Other available requirements: "$500,000.00 for the first location, plus $10,000.00 for each additional location and authorized delegate, up to a maximum of $1,500,000.00.". 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 business entity providing money transmission services in Michigan, including selling or issuing payment instruments or stored value, or receiving money for transmission. Required when: At the time of filing an application for a license under the Money Transmission Services Act. Exemptions: The United Sta…

Who usually needs it

Any person or business entity providing money transmission services in Michigan, including selling or issuing payment instruments or stored value, or receiving money for transmission.

Pricing & timing

What to expect.

Generic pricing

Miscellaneous commercial bonds cover a wide range of business obligations not fitting other categories. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger 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. Pricing varies by specific bond type and requirements. Some miscellaneous bonds may price higher depending on risk factors. Contact us for a specific quote.

Your quote determines the actual premium.

Typical timeframe

Credit-based approval — varies by bond type

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.

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“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

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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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